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Views: 154 DOM: 476 Updated: 10.15.24 Posted: 08.05.23 Status: Active

Summary

Price $2,002,000
Built/Renov 2005
Tenant Sonic Drive-In
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,490
Lease Start 08-01-2009
#Units 32
Price/SF $1,343.62
Expiration 01-15-2033
Tenant Type Fast Casual/Rest.
NOI $120,148
R. Term 8.1
Ownership Fee Simple
Rent/SF $80.64
Increases 0.0%/0/yrs
Pop 5Mi 20,161
Lot/AC 1.60
Options 2/5yrs
AHHI 5Mi $80,980

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 $8,600 or 7% of net monthly sales
  • Absolute NNN lease | Zero landlord responsibilities
  • Personal guarantee from experienced operator with 32 units

Location Description

Sonic is strategically located with frontage on U.S. Highway 231/431 with access to 27,408 vehicles passing by daily. Hazel Green High School, Hazel Green Elementary School, and two childcare/development centers are all within a half mile. Other restaurants and retailers in the vicinity include Walmart Supercenter, Walgreens, O’Reilly Auto Parts, Foodland, Subway, Burger King, Zaxby’s, Taco...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sonic Drive-In
  • Guarantor:Franchisee
  • Company:SDI Hazel Green, AL, 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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
US Hwy 231 Kristen Ln 2017 22,380 0.54 mi
Beechwood Street W Limestone Rd 2014 3,500 0.80 mi
West Limestone Road Beechwood St 2021 3,120 0.82 mi
West Limestone Road Charles Dr 2020 3,120 0.82 mi
US 231;US 431 Grimwood Rd 2020 26,721 1.00 mi
US 231;US 431 Grimwood Rd 2021 26,721 1.00 mi
US Hwy 231 Kinnard Mill Rd 2019 27,408 1.04 mi
Joe Quick Road Gerald Dr 2021 3,715 1.52 mi
Old Highway Bobo Section Rd 2014 1,530 2.07 mi
Grimwood Road Hwy 231 2021 2,801 2.50 mi

Listing Broker

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