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Views: 37 DOM: 93 Updated: 11.11.24 Posted: 08.13.24 Status: Active

Summary

Price $1,302,583
Built/Renov 2008
Tenant Sonic Drive-In
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,712
Lease Start 12-03-2021
#Units 54
Price/SF $760.85
Expiration 12-31-2036
Tenant Type Fast Casual/Rest.
NOI $78,155
R. Term 12.1
Ownership Fee Simple
Rent/SF $45.65
Increases 10.0%/5/yrs
Pop 5Mi 32,820
Lot/AC 0.45
Options 3/5yrs/10%
AHHI 5Mi $73,246

Lease Highlights

  • Sonic Drive-In has 12+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Emerge, Inc. (54 units backed)

Location Description

Sonic Drive-In is strategically located on N Brazosport Boulevard, with access to a daily traffic count of 28,263 vehicles. The property is situated just down the road from Brazosport College, which has over 4,300 students and faculty. Additionally, it is adjacent to the Brazos River, a popular destination for outdoor enthusiasts engaged in activities such as camping, fishing, hunting,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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
2029 Total Population : 3,919 10,858 29,402
2024 Total Population : 3,921 10,853 29,340
2024 Employed Civilian Pop : 1,461 4,468 13,507
2024 Total Businesses : 192 463 1,152
2024 Average Household Income : $ 56,273 $ 64,717 $ 86,210
2024 Total Consumer Spending : $ 71 M $ 218 M $ 842 M
2024 Median Age : 34 34 35
2024 Total Households : 1,404 3,743 10,908
2024 Pop Age 25+: Bachelor's Degree : 96 373 2,104
2024 Average Home Value : $ 146,622 $ 183,035 $ 218,025
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Ave I Sweeney St 2006 910 0.16 mi
Yellowstone St N Ave J 2006 1,120 0.17 mi
Sweeny St 2006 4,670 0.19 mi
Yellowstone St N Ave L 2006 2,760 0.24 mi
H Ave Travis St 2006 520 0.29 mi
N Ave J Skinner St 2006 2,210 0.30 mi
N Brazosport Blvd G Ave 2013 22,234 0.33 mi
Skinner St N Ave J 2006 2,330 0.35 mi
J Ave Quintana St 2006 3,680 0.38 mi
N Ave O Uvalde St 2006 460 0.41 mi

Listing Broker

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