Sonic Drive-In

209 Texas 332, Lake Jackson, Texas 77566

$2,488,117

Cap Rate 6.00%

Views: 21 DOM: 34 Updated: 09.12.24 Posted: 08.13.24 Status: Active

Summary

Price $2,488,117	Built/Renov 1994	Tenant Sonic Drive-In
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,518	Lease Start 12-03-2021	#Units 54
Price/SF $1,639.08	Expiration 12-31-2036	Tenant Type Fast Casual/Rest.
NOI $149,287	R. Term 12.3	Ownership Fee Simple
Rent/SF $98.34	Increases 10.0%/5/yrs	Pop 5Mi 50,808
Lot/AC 0.64	Options 3/5yrs/10%	AHHI 5Mi $101,250

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 escalations 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 Highway 332, with access to 16,817 vehicles passing by daily. The property is surrounded by well-known national tenants, including Planet Fitness, Tractor Supply, Kohl’s, Hobby Lobby, TJ Maxx, Best Buy, and more. The 5-mile trade area supports a population of 50,808 residents with an affluent average household income of $101,250. Lake Jackson is a...

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Key Features

Build to suit
Dense retail corridor
Highway location
Strong tenant synergy
Top 100 MSA
Affluent AHHI $100K 5 Mi
Income tax free state
Absolute NNN
Long 10+ yr lease
50+ unit franchisee backed

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Links

Sonic Drive-In Wikipedia Sonic Drive-In Wikipedia Lake Jackson, Texas Zip Code 77566 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Sonic Drive-In
Guarantor:Franchisee
Company:Emerge, Inc.
# Units:54
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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Listing Broker

Jordan Mulloy

Sands Investment Group

Contact

22 Listings
668 Views
0 Sold

Max Freedman

Sands Investment Group

Contact

56 Listings
2213 Views
0 Sold

Jordan Mulloy

Investment Advisor at Sands Investment Group (SIG), a Commercial Real Estate Investment Brokerage Company based in Santa Monica, California. With offices nationwide, SIG is focused on investment sales of single tenant net leased retail properties. Jordan represents clients from Private Capital to Institutional Investors with a specialization in retail investment property sales. Jordan's focus is in the restaurant sector and he serves as an outsourced real estate arm for growing franchisees arou

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Max Freedman

Max Freedman is a recognized industry leader focused on the Restaurant/C-Store real estate, heads the Austin office and the SIG Restaurant Group. Max is a founding partner and opened the first SIG office in Santa Monica, CA in 2009, with Chris Sands. He has excelled in building the company’s team culture and strategies you see today. Max has a strong team mentality and has had an integral part in recruiting several agents to Sands Investment Group. SIG’s restaurant group consists of nine agen

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Will Schuhmacher

Sands Investment Group

Contact

24 Listings
993 Views
0 Sold

Will Schuhmacher

Investment Advisor at Sands Investment Group (SIG), a Commercial Real Estate Investment Brokerage Company based in Santa Monica, California. With offices nationwide, SIG is focused on investment sales of single tenant net leased retail properties. Will represents clients from Private Capital to Institutional Investors with a specialization in retail investment property sales. Will's focus is in the restaurant sector and he serves as an outsourced real estate arm for growing franchisees around t

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