Property details

NNN Sonic For Sale, Southeast Region

Property Description

NNN Sonic For Sale

Across from Kroger and large municipal ball field complex. Down the street from Walmart Supercenter, hotels, interstate, etc.

Other property related to NNN Sonic For Sale

Latest Multi-Family Arrivals

About the Tenant

SONIC, America's Drive-In (NASDAQ: SONC) is the nation's largest chain of drive-in restaurants. SONIC started as a hamburger and root beer stand in 1953 in Shawnee, Okla., called Top Hat Drive-In, and then changed its name to SONIC in 1959. The first drive-in to adopt the SONIC name is still serving customers in Stillwater, Okla. As the nation's largest chain of drive-in restaurants, SONIC has more than 3,500 drive-ins coast to coast and serves approximately 3 million customers every day. With more drink combinations than any other quick-service restaurant - more than 398,929 - SONIC is Your Ultimate Drink Stop.

Images

Highlights

Status:: Sold
Price:: $1,125,000
PSF:: $837
Cap Rate:: 6.75%
Annual Rent:: $75,900
Rent Increases:: 10% every 5 years, including option renewals.

Property Information

Building Size:: 1,344 sq.ft.
Property Type:: Net Lease
Industry Type:: Restaurant
Units/Spaces:: 1
Land Area:: 38,866 sq.ft.
Purchase Tenure:: Fee Simple

Lease information

Tenant:: Sonic
Lease Type:: NNN
Lease Commencement:: 10/01/2006
Lease Expiration:: 10/31/2021
Lease Term:: 15 years
Lease Remaining:: -3.4 years
Landlord Responsibilities:: There are no Landlord expenses.
Options:: Three (3) five (5) year options to renew.

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.