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Views: 150 DOM: 476 Updated: 10.15.24 Posted: 08.05.23 Status: Active

Summary

Price $2,024,000
Built/Renov 2009
Tenant Sonic Drive-In
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,273
Lease Start 08-01-2009
#Units 32
Price/SF $1,589.95
Expiration 01-15-2033
Tenant Type Fast Casual/Rest.
NOI $121,428
R. Term 8.1
Ownership Fee Simple
Rent/SF $95.39
Increases 0.0%/0/yrs
Pop 5Mi 5,005
Lot/AC 1.00
Options 2/5yrs
AHHI 5Mi $59,364

Lease Highlights

  • Sonic Drive-in has over 8+ years remaining on thier current lease with 2 (5-year) options to extend
  • Monthly base rent is the greater of $6,500 or 7% of net monthly sales
  • Absolute NNN lease | Zero landlord responsibilities
  • Personal guarantee from experienced operator with 32 units

Location Description

Sonic Drive-In is strategically located on Dexter L Woods Memorial Boulevard (9,980 VPD) at the busy intersection of U.S. Highway 64, just a half mile from the downtown Court Square. Adjacent to the site is Wayne Medical Center, part of Maury Regional Health. It is a 25-bed community hospital offering a range of comprehensive inpatient and outpatient services as well as a 24-hour emergency...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sonic Drive-In
  • Guarantor:Franchisee
  • Company:SDI Waynesboro, TN, LLC for
  • # Units:32
  • 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 : 1,463 3,573 4,521
2023 Total Population : 1,478 3,611 4,576
2023 Employed Civilian Pop : 588 1,441 1,850
2023 Total Businesses : 165 212 227
2023 Average Household Income : $ 80,335 $ 80,300 $ 77,508
2023 Total Consumer Spending : $ 39 M $ 107 M $ 133 M
2023 Median Age : 43 43 44
2023 Total Households : 551 1,484 1,911
2023 Pop Age 25+: Bachelor's Degree : 177 404 467
2023 Average Home Value : $ 218,810 $ 218,364 $ 216,775
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Dexter L Woods Memorial Blvd Brewer Dr 2003 9,980 0.18 mi
Waynesboro Hwy 2022 4,773 0.24 mi
Thompson St N High St 2003 2,650 0.30 mi
Hill Street Hill St 2022 8,313 0.34 mi
North High Street W Public Sq 2022 1,975 0.36 mi
North Main Street Hill St 2022 5,493 0.37 mi
West Public Square State Hwy13 2022 7,412 0.39 mi
Waynesboro Highway Elgie Dugger Ln 2022 2,068 0.39 mi
TN 13 Hwy 64 2021 2,274 0.39 mi
Hollis St W Public Sq 2003 6,430 0.40 mi

Listing Broker

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