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Sonic 601 N Central Ave 1,264 SF Retail Building Avondale, AZ 85323 $2,093,880 CAD ($1,656.55 CAD/SF) 6.14% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Triple Net (NNN) Lease: The property has an absolute NNN lease, eliminating all landlord responsibilities, including taxes, insurance, and ma
- Strong Operating History: The site has functioned continuously as a Sonic Drive-In for 48+ years, underscoring the location’s long-term viability and
- Strategic Location Near Phoenix: Positioned in the Phoenix metropolitan area, the property leverages access to one of the fastest-growing major market
- Established Franchise Operator: The tenant, SW Karma, LLC, is a proven Sonic Drive-In franchisee operating 28+ locations across the region. The Merrit
- Robust Demographic Growth: The surrounding area has a population of ±209,886 within a ±5-mile radius. The ±3-mile radius has experienced a historical
EXECUTIVE SUMMARY
Broker of Record
David Harrington
License # CO701910000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
David Harrington
License # CO701910000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,264 SF
Building Class
C
Year Built
1997
Price
$2,093,880 CAD
Price Per SF
$1,656.55 CAD
Cap Rate
6.14%
NOI
$128,647 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.49 AC
Opportunity Zone
Yes
Zoning
C-2
Parking
60 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
94’ on N Central Ave
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- -
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.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 500-18-034G | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $64,512 CAD |
PROPERTY TAXES
Parcel Number
500-18-034G
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$64,512 CAD
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Sonic | 601 N Central Ave
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