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Sonic 5680 Us Highway 278 E 1,512 SF Retail Building Gadsden, AL 35903 $2,423,317 CAD ($1,602.72 CAD/SF) 6.05% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-Year Sale-Leaseback | Experienced Operator (191+ Units) | Options to Extend
- Close Proximity To Coosa Town 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 Hokes Bluff, 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.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,512 SF
Building Class
C
Year Built
2000
Price
$2,423,317 CAD
Price Per SF
$1,602.72 CAD
Cap Rate
6.05%
NOI
$146,572 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.74 AC
Zoning
B-2 - General Business
Parking
41 Spaces (27.12 Spaces per 1,000 SF Leased)
AMENITIES
- Pylon Sign
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 14-06-14-0-001-254.002 | Improvements Assessment | $55,763 CAD |
| Land Assessment | $5,731 CAD | Total Assessment | $61,493 CAD |
PROPERTY TAXES
Parcel Number
14-06-14-0-001-254.002
Land Assessment
$5,731 CAD
Improvements Assessment
$55,763 CAD
Total Assessment
$61,493 CAD
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Sonic | 5680 Us Highway 278 E
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