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Restaurant

Sonic Drive-In

1968 Gause Blvd E, Slidell, LA 70461

Listing Price: $1,910,000

Cap Rate
5.00%
Tenant Name
Panhandle Restaurant Group
Years Remaining On Lease
17.4
Guarantor
Regional Franchisee
Rentable SF
1,135
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$84.15

Investment Overview

Marcus & Millichap is pleased to present Sonic Drive-In, a rare opportunity for an investor to purchase a truly iconic brand with a proven track record of success in the submarket of Slidell, LA. This NNN Lease is backed by Panhandle Restaurant Group's corporate entity, which will have 20+ units operational by the end of the year and another 10-20 locations targeted for construction to open in the next 12 months. In addition, the deal is backed by Personal Guarantee's by the operators with a combined net worth of over $20MM. The property location is densely populated and has several employers within walking distance, which allows for walk up lunch rush traffic and a built-in customer base to drive consistent sales numbers. Finally, this market has been identified by the operator as similar to their other successful markets, which is why they employ grassroots marketing campaigns to build relationships with the surrounding community making this location a hot-spot for family gatherings.

Investment Highlights

  • Strong Historical Unit Sales and Operating History
  • The lease is backed by Panhandle Restaurant Group's corporate entity, which will have 20+ units operational by the end of the year and another 10-20 locations targeted for construction.
  • Recent Improvements: Tenant recently acquired these locations and has improved sales significantly at this location since putting money into the site.
  • Sonic Drive-In is an established quick service restaurant concept operating since the 1950s. As of 2020, 3,491 Sonic restaurants are located in 46 U.S. States.
  • 2% Annual Increases
  • Community and Family Focused Operator: They employ grassroots marketing campaigns to build relationships with the surrounding community making this location a hot-spot for family gatherings.

Exclusively Listed By

Financing By

Restaurant

Sonic Drive-In

Listing Price: $1,910,000

Cap Rate
5.00%
Tenant Name
Panhandle Restaurant Group
Years Remaining On Lease
17.4
Guarantor
Regional Franchisee
Rentable SF
1,135
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$84.15

Investment Highlights

  • Strong Historical Unit Sales and Operating History
  • The lease is backed by Panhandle Restaurant Group's corporate entity, which will have 20+ units operational by the end of the year and another 10-20 locations targeted for construction.
  • Recent Improvements: Tenant recently acquired these locations and has improved sales significantly at this location since putting money into the site.
  • Sonic Drive-In is an established quick service restaurant concept operating since the 1950s. As of 2020, 3,491 Sonic restaurants are located in 46 U.S. States.
  • 2% Annual Increases
  • Community and Family Focused Operator: They employ grassroots marketing campaigns to build relationships with the surrounding community making this location a hot-spot for family gatherings.

Investment Overview

Marcus & Millichap is pleased to present Sonic Drive-In, a rare opportunity for an investor to purchase a truly iconic brand with a proven track record of success in the submarket of Slidell, LA. This NNN Lease is backed by Panhandle Restaurant Group's corporate entity, which will have 20+ units operational by the end of the year and another 10-20 locations targeted for construction to open in the next 12 months. In addition, the deal is backed by Personal Guarantee's by the operators with a combined net worth of over $20MM. The property location is densely populated and has several employers within walking distance, which allows for walk up lunch rush traffic and a built-in customer base to drive consistent sales numbers. Finally, this market has been identified by the operator as similar to their other successful markets, which is why they employ grassroots marketing campaigns to build relationships with the surrounding community making this location a hot-spot for family gatherings.

Exclusively Listed By

Financing By

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