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Sonic | New 20yr Abs NNN | 2024 Construction 1815 Expressway 83 1,227 SF Retail Building Penitas, TX 78576 $3,279,016 CAD ($2,672.38 CAD/SF) 6.15% Cap Rate

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INVESTMENT HIGHLIGHTS

Brand New 20-Year Lease | New Construction | Scheduled Rental Increases | Experienced Operator
Outparcel to Walmart Supercenter | Villas at Penitas Apartments |Developing Fast Food Area | 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, freestanding, Sonic investment property located in Penitas, Texas. The tenant, Crush TX, LLC recently signed a brand new 20-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases every 5 years throughout the lease 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. The asset was recently constructed and is now open for business. The operator, Crush TX, LLC (Information Here), has built and developed over 14 Sonic Drive-Ins in South Texas. The company is currently implementing a $28 Million Sonic Drive-In re-introduction to the Rio Grande Valley.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Fast Food

Building Size

1,227 SF

Building Class

Year Built

2024

Price

$3,279,016 CAD

Price Per SF

$2,672.38 CAD

Cap Rate

6.15%

NOI

$201,707 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.03

Lot Size

1.05 AC

Opportunity Zone

Yes

Zoning

C-1 - Commercial

Parking

49 Spaces (39.93 Spaces per 1,000 SF Leased)

Restaurant

Signage

Drive Thru

Accommodation and Food Services
99,999 SF
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For more than 60 years, SONIC, America’s Drive-In has built a dominant position in the drive-in restaurant business. SONIC did it by sticking to what made drive-ins so popular in the first place: made-to-order American classics, signature menu items, speedy service from friendly Carhops and heaping helpings of fun and personality. SONIC is part of the Inspire Brands family of restaurants.