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Sonic (GL)
900 W John Carpenter Fwy, Irving, TX 75039
$1,886,457
Cap Rate 6.35%
Summary
| Price $1,886,457 | Built/Renov 2008 | Tenant Sonic (GL) |
| Cap Rate 6.35% | Lease Type
Abs NNN | Guarantor Corp Rated |
| Size/SF
2,450
| Lease Start
03-21-2008
| #Units
3,551
|
| Price/SF $769.98 | Expiration
03-20-2028
| Tenant Type Fast Casual/Rest. |
| NOI $119,790 | R. Term 4.3 | Ownership Ground Lease |
| Rent/SF
$48.89
| Increases 10.0%/5/yrs | Pop 5Mi 241,509 |
| Lot/AC 1.19 | Options 2/5yrs/10% | AHHI 5Mi $108,938 |
| | |
Lease Highlights
- Sonic has been operating in this location sine 2008
- Tenant has over 4 years remaining on the current lease term with 2 (5-year) options to extend
- Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
- Absolute NNN ground lease | Zero landlord responsibilities
- Corporate guaranteed lease
Location Description
Sonic is strategically located along West John Carpenter Freeway with access to over 131,460 vehicles per day. The subject is strategically placed near a large concentration of office properties that feed the area’s daytime population. Some of which include US Bank, CVS Caremark Corporate, Gainwell Technologies, and Boy Scouts of America. Additionally, the property is less than 5 minutes north...
...Features
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In location for years
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High traffic 50M+ VPD
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Dense retail corridor
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Near major nationals
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Top 100 MSA
-
Income tax free state
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Long operation history
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Absolute NNN
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Corporate Guarantee
-
Credit rated company
...
Maps
Tenant
- Tenant: Sonic
- Guarantor:Corp Rated
- Company:Inspire Brands
- # Units:3,551
- Tenant S&P: B+
- Moody’s: B2
- Stock:Private
About Tenant
Sonic Corporation, founded as Sonic Drive-In and more commonly known as Sonic or "The Drive-In," is an American drive-in fast food restaurant chain owned by Inspire Brands, the parent company of...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 11,096 | 114,740 | 245,417 |
| 2023 Total Population : | 11,149 | 112,001 | 241,509 |
| 2023 Employed Civilian Pop : | 6,315 | 70,207 | 143,235 |
| 2023 Total Businesses : | 1,082 | 5,721 | 15,458 |
| 2023 Average Household Income : | $ 116,884 | $ 122,210 | $ 108,938 |
| 2023 Total Consumer Spending : | $ 462 M | $ 5101 M | $ 8965 M |
| 2023 Median Age : | 31 | 34 | 34 |
| 2023 Total Households : | 4,580 | 48,186 | 94,531 |
| 2023 Pop Age 25+: Bachelor's Degree : | 3,298 | 29,415 | 49,546 |
| 2023 Average Home Value : | $ 540,598 | $ 430,757 | $ 365,223 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| W Johnson W Carpenter Fwy | N Macarthur Blvd | 2004 | 2,914 | 0.08 mi |
| W John Carpenter Fwy | N Macarthur Blvd | 2004 | 2,722 | 0.13 mi |
| W Johnson W Carpenter Fwy | W Walnut Hill Ln | 2009 | 120,810 | 0.15 mi |
| N Macarthur Blvd | W Walnut Hill Ln | 2011 | 52,000 | 0.20 mi |
| W Walnut Hill Ln | White Hall St | 2011 | 12,700 | 0.23 mi |
| N Macarthur Blvd | Oxbow Dr | 2010 | 33,500 | 0.32 mi |
| N Macarthur Blvd | W John Carpenter Fwy | 2011 | 49,000 | 0.33 mi |
| W Walnut Hill Ln | Executive Dr | 2005 | 14,775 | 0.34 mi |
| Love Dr | W Walnut Hill Ln | 2009 | 9,940 | 0.36 mi |
| SH 114 TEXpress | Hwy 161 Svc Rd | 2021 | 96,232 | 0.36 mi |
