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Restaurant

Sonic

2910 Lurleen B Wallace Blvd, Northport, AL 35476

Listing Price: $1,756,385

Cap Rate
4.75%
Tenant Name
Quality Drive-In I
Guarantor
Franchisee Guarantee
Rentable SF
1,212
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$68.83

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 2910 Lurleen B Wallace Blvd in Northport, AL. The site will consist of roughly 1,212 rentable square feet of building space on estimated 1.98-acre parcel of land. The Sonic is subject to a 20-year absolute triple-net (NNN) sale-leaseback, which will commence upon close of escrow. The initial annual rent will be $83,428 and is scheduled to increase by one-and-a-half percent (1.50%) annually starting year two (2) throughout the base term and in each of the four (4), five (5)-year renewal options.

Investment Highlights

  • 20-Year Absolute Triple-Net (NNN) Sale-leaseback
  • Franchisee Guarantee from Quality Huts Drive-In (74-units)
  • 1.50% Annual Rental Increases Starting Year Two

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Financing By

Listing Price: $1,756,385

Cap Rate
4.75%
Tenant Name
Quality Drive-In I
Guarantor
Franchisee Guarantee
Rentable SF
1,212
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$68.83

Investment Highlights

  • 20-Year Absolute Triple-Net (NNN) Sale-leaseback
  • Franchisee Guarantee from Quality Huts Drive-In (74-units)
  • 1.50% Annual Rental Increases Starting Year Two

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 2910 Lurleen B Wallace Blvd in Northport, AL. The site will consist of roughly 1,212 rentable square feet of building space on estimated 1.98-acre parcel of land. The Sonic is subject to a 20-year absolute triple-net (NNN) sale-leaseback, which will commence upon close of escrow. The initial annual rent will be $83,428 and is scheduled to increase by one-and-a-half percent (1.50%) annually starting year two (2) throughout the base term and in each of the four (4), five (5)-year renewal options.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

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