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Restaurant

Sonic

420 Merhar Ave, Fairbanks, AK 99701

Listing Price: $2,574,533

Cap Rate
6.00%
Tenant Name
Fairbanks Drive-In, LLC
Years Remaining On Lease
8.2
Guarantor
Franchisee Guarantee
Rentable SF
3,530
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.76

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Sonic located at 420 Merhar Avenue in Fairbanks, Alaska. The site consists of roughly 3,530 rentable square feet of building space on estimated 0.92-acre parcel of land. This Sonic is subject to a 10-year absolute triple-net (NNN) lease, which commenced September 1st, 2020. The current annual rent is $152,189 and is scheduled to increase by 1.50%annually throughout the base term.

Investment Highlights

  • Original 10-Year Absolute Triple Net (NNN) Lease
  • Over 8 Years of Remaining on the Base Term of the Lease
  • One- and One-Half Percent (1.50%) Rental Increases Occurring Annually

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Carlton Smith

    Broker Of Record

    (907) 463-4800

    License(s) REC B 10266

    Alaska

Listing Price: $2,574,533

Cap Rate
6.00%
Tenant Name
Fairbanks Drive-In, LLC
Years Remaining On Lease
8.2
Guarantor
Franchisee Guarantee
Rentable SF
3,530
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.76

Investment Highlights

  • Original 10-Year Absolute Triple Net (NNN) Lease
  • Over 8 Years of Remaining on the Base Term of the Lease
  • One- and One-Half Percent (1.50%) Rental Increases Occurring Annually

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Sonic located at 420 Merhar Avenue in Fairbanks, Alaska. The site consists of roughly 3,530 rentable square feet of building space on estimated 0.92-acre parcel of land. This Sonic is subject to a 10-year absolute triple-net (NNN) lease, which commenced September 1st, 2020. The current annual rent is $152,189 and is scheduled to increase by 1.50%annually throughout the base term.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Carlton Smith

    Broker Of Record

    (907) 463-4800

    License(s): REC B 10266

    Alaska

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