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| Price $1,991,750 | Built/Renov 2009 | Tenant Sonic Drive-In |
| Cap Rate 6.00% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
1,781
| Lease Start
12-03-2021
| #Units
54
|
| Price/SF $1,118.33 | Expiration
12-31-2036
| Tenant Type Fast Casual/Rest. |
| NOI $119,505 | R. Term 12.0 | Ownership Fee Simple |
| Rent/SF
$69.34
| Increases 10.0%/5/yrs | Pop 5Mi 65,817 |
| Lot/AC 0.89 | Options 3/5yrs/10% | AHHI 5Mi $69,107 |
| | |
Sonic Drive-In is strategically located on Palmer Highway, a major retail corridor with access to 32,150 vehicles passing by daily. The property is surrounded by well-known national tenants, including Walgreens, KFC, Shell, HEB, Subway, and more. Additionally, it is just 20 minutes from Texas A&M University, which serves over 2,700 students and staff, and 30 minutes from the NASA Space Center....
...Hard corner intersection
Dense retail corridor
Near major nationals
Highway location
Top 100 MSA
Income tax free state
Strong sales history
Absolute NNN
Long 10+ yr lease
50+ 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 company of...
| 1 Miles | 3 Miles | 5 Miles | |
| 2029 Total Population : | 8,454 | 43,096 | 68,113 |
| 2024 Total Population : | 8,629 | 43,229 | 66,614 |
| 2024 Employed Civilian Pop : | 4,013 | 18,643 | 29,487 |
| 2024 Total Businesses : | 417 | 1,342 | 1,862 |
| 2024 Average Household Income : | $ 60,355 | $ 74,240 | $ 81,541 |
| 2024 Total Consumer Spending : | $ 200 M | $ 1097 M | $ 1875 M |
| 2024 Median Age : | 39 | 39 | 40 |
| 2024 Total Households : | 3,732 | 16,617 | 25,959 |
| 2024 Pop Age 25+: Bachelor's Degree : | 564 | 4,183 | 7,144 |
| 2024 Average Home Value : | $ 184,636 | $ 252,885 | $ 290,786 |
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Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
