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Sonic 1655 W Main St 1,713 SF Retail Building Centre, AL 35960 $3,322,290 CAD ($1,939.46 CAD/SF) 6.05% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-Year Sale-Leaseback | Experienced Operator (191+ Units) | Options to Extend | Established Location
- Near Ingles Anchored Center | Primary Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, guaranteed by Soar QSR (191+ unit operator) Sonic investment property located in Centre, Alabama. Soar QSR is the 3rd largest Sonic franchisee and will sign a brand new, 20-year
lease at the close of escrow (sale-leaseback) with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
lease at the close of escrow (sale-leaseback) with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,713 SF
Building Class
C
Year Built
2005
Price
$3,322,290 CAD
Price Per SF
$1,939.46 CAD
Cap Rate
6.05%
NOI
$200,999 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.38 AC
Opportunity Zone
Yes
Zoning
Highway Commercial
Parking
32 Spaces (18.68 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Pylon Sign
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 14-04-17-4-000-016.000 | Improvements Assessment | $21,145 CAD |
| Land Assessment | $5,958 CAD | Total Assessment | $27,103 CAD |
PROPERTY TAXES
Parcel Number
14-04-17-4-000-016.000
Land Assessment
$5,958 CAD
Improvements Assessment
$21,145 CAD
Total Assessment
$27,103 CAD
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Sonic | 1655 W Main St
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