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Views: 178 DOM: 505 Updated: 10.15.24 Posted: 08.05.23 Status: Active

Summary

Price $2,861,000
Built/Renov 2007
Tenant Sonic Drive-In
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,225
Lease Start 08-01-2009
#Units 32
Price/SF $2,335.51
Expiration 01-15-2033
Tenant Type Fast Casual/Rest.
NOI $157,331
R. Term 8.0
Ownership Fee Simple
Rent/SF $128.43
Increases 0.0%/0/yrs
Pop 5Mi 16,398
Lot/AC 0.99
Options 2/5yrs
AHHI 5Mi $75,197

Lease Highlights

  • Sonic Drive-In has been operating in this location since 2009
  • Tenant has over 8 years remaining on its current lease with 2 (5-year) options to extend
  • Monthly base rent is the greater of $10,500 or 7% of net monthly sales
  • Absolute NNN | Zero Landlord Responsibilities
  • Personal guarantee from experienced operator with 32 units

Location Description

Sonic Drive-In is ideally located on Highway 46 averaging more than 26,600 vehicles passing by daily and just one-third of a mile south of Interstate 40 averaging more than 39,400 vehicles passing by daily. A single, freestanding building situated on just under one acre, it offers outside seating, curbside pickup, take-out, drive-through, and delivery service. Neighboring businesses include...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sonic Drive-In
  • Guarantor:Franchisee
  • Company:SDI Dickson, TN, LLC
  • # 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 : 72 1,009 3,433
2023 Total Population : 73 1,000 3,386
2023 Employed Civilian Pop : 32 438 1,466
2023 Total Businesses : 2 9 31
2023 Average Household Income : $ 95,027 $ 93,770 $ 90,269
2023 Total Consumer Spending : $ 1 M $ 29 M $ 101 M
2023 Median Age : 42 43 43
2023 Total Households : 24 354 1,281
2023 Pop Age 25+: Bachelor's Degree : 6 79 273
2023 Average Home Value : $ 265,278 $ 260,018 $ 260,184
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Nubbin Ridge Road Edgewood Cemetery Rd 2022 268 1.95 mi
Yellow Creek Road Gilliam Hollow Rd 2022 2,660 2.24 mi
Maysville Road Reid Denny Rd 2022 133 2.53 mi
Gilliam Hollow Road Gilliam Ln 2022 307 2.81 mi

Listing Broker

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