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Views: 48 DOM: 148 Updated: 04.22.24 Posted: 12.20.23 Status: Active

Summary

Price $2,345,000
Built/Renov 2024
Tenant Sonic Drive-In (GL)
Cap Rate 5.65%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 1,200
Lease Start 01-01-2024
#Units 3,551
Price/SF $1,954.17
Expiration 01-01-2039
Tenant Type Fast Casual/Rest.
NOI $132,500
R. Term 14.7
Ownership Ground Lease
Rent/SF $110.42
Increases 10.0%/5/yrs
Pop 5Mi 83,272
Lot/AC 0.69
Options 4/5yrs/10%
AHHI 5Mi $100,590

Lease Highlights

  • Brand-new 2024 construction
  • Sonic recently signed a brand-new 15-year ground lease with 4 (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 | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Sonic is strategically located on Glynn Street, with access to 34,700 vehicles passing by daily. The property serves as an outparcel to Banks Station Shopping Center, a neighborhood shopping center anchored by Ollie’s, Staples, and Food Depot. The primary retail corridor in the vicinity boasts national/credit tenants such as Kroger, Michaels, and more. Situated one mile south of Fayette...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sonic Drive-In
  • 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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,319 29,304 85,955
2023 Total Population : 4,297 27,972 83,272
2023 Employed Civilian Pop : 2,197 12,978 39,416
2023 Total Businesses : 580 2,040 2,902
2023 Average Household Income : $ 91,585 $ 101,522 $ 100,590
2023 Total Consumer Spending : $ 129 M $ 917 M $ 2536 M
2023 Median Age : 49 46 41
2023 Total Households : 1,655 10,534 29,377
2023 Pop Age 25+: Bachelor's Degree : 849 4,916 12,743
2023 Average Home Value : $ 285,007 $ 283,203 $ 285,527
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Jeff Davis Drive Hillsdale Dr 2021 16,900 0.31 mi
Glynn Street North Northpark Dr 2019 33,300 0.34 mi
Glynn Street North Georgia Ave E 2021 34,700 0.34 mi
West Fayetteville Road 2019 22,400 0.41 mi
GA 314 W Fayetteville Rd 2021 20,800 0.41 mi
West Fayetteville Road W Fayetteville Rd 2018 20,600 0.41 mi
Forrest Ave Stratford Way 2013 7,720 0.60 mi
Forrest Avenue Madison Pl 2021 11,000 0.64 mi
Forrest Avenue Kelly Dr 2018 9,450 0.64 mi
Forrest Avenue 2019 9,520 0.64 mi

Listing Broker

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