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| Price $2,110,000 | Built/Renov 2009 | Tenant Sonic Drive-In |
| Cap Rate 6.25% | Lease Type
Abs NNN | Guarantor Corp Rated |
| Size/SF
1,622
| Lease Start
11-16-2014
| #Units
3,514
|
| Price/SF $1,300.86 | Expiration
11-30-2034
| Tenant Type Fast Casual/Rest. |
| NOI $131,880 | R. Term 9.20 | Ownership Fee Simple |
| Rent/SF
$81.31
| Increases 1.5%/2/yrs | Pop 5Mi 90,375 |
| Lot/AC 0.80 | Options 4/5yrs/1.5% | AHHI 5Mi $126,733 |
| | |
Sonic Drive-In built in 2009 with long-term operating history in Ashland VA
Absolute NNN lease with tenant responsible for all expenses including roof and structure
Lease runs through November 2034 with four five-year renewal options
1.5% annual rent increases provide steady income growth for investors
Operated by Saja Restaurant Group, a top Sonic franchisee with 150+ locations
Prime hard corner location at Sliding Hill Road and Washington Highway near I-95
Five-mile trade area includes 90,375 residents with $126,733 average household income
Offered at $2,110,000 with NOI of $131,880 and 6.25% cap rate
Sonic Drive-In is strategically located along Sliding Hill Road at Washington Highway in Ashland, Virginia, with access to a daily traffic count of approximately 46,000 vehicles, and 132,000 vehicles along nearby I-95. The site is surrounded by major national retailers including Walmart, Lowe’s, Starbucks, McDonald’s, etc., driving consistent consumer traffic to the area. The property is...
...Signalized intersection
Hard corner intersection
Major thoroughfare
Strategically located
Top 100 MSA
Strong demographics
Long operation history
Absolute NNN
Over 2000 units backed
100+ unit franchisee backed
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...
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Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
