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Sonic | Absolute NNN 209 Highway 332 W 1,518 SF Retail Building Lake Jackson, TX 77566 $4,803,084 CAD ($3,164.09 CAD/SF) 5.70% Cap Rate
Investment Highlights
- 13+ Years Remaining | Scheduled Rental Increases | Strong Operator (53 units) | Established Brand
- Along Hwy 332 | Nolan Ryan Expy | Dense Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes
Executive Summary
• The tenant currently has 13+ years remaining on their initial lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years during the initial lease term and at the beginning of each option, growing NOI and hedging inflation
• Lease is guaranteed by the Sonic entity. Parent company here is Emerge!Restaurant Group with nearly 200 restaurants across all their brands
• The lease features 10% rental increases every 5 years during the initial lease term and at the beginning of each option, growing NOI and hedging inflation
• Lease is guaranteed by the Sonic entity. Parent company here is Emerge!Restaurant Group with nearly 200 restaurants across all their brands
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,518 SF
Building Class
C
Year Built/Renovated
1994/1997
Price
$4,803,084 CAD
Price Per SF
$3,164.09 CAD
Cap Rate
5.70%
NOI
$273,758 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.64 AC
Parking
30 Spaces (19.76 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 6292-0100-150 | Improvements Assessment | $1,452,397 CAD |
| Land Assessment | $184,091 CAD | Total Assessment | $1,636,488 CAD |
Property Taxes
Parcel Number
6292-0100-150
Land Assessment
$184,091 CAD
Improvements Assessment
$1,452,397 CAD
Total Assessment
$1,636,488 CAD
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Sonic | Absolute NNN | 209 Highway 332 W
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