Restaurant
Sonic
30939 Mill Ln, Spanish Fort, AL 36527
Listing Price: $1,953,271
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 30939 Mill Lane in Spanish Fort, AL. The site will consist of roughly 1,463 rentable square feet of building space on estimated 1.01-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 $104,500 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
Financing By
Listing Price: $1,953,271
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 30939 Mill Lane in Spanish Fort, AL. The site will consist of roughly 1,463 rentable square feet of building space on estimated 1.01-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 $104,500 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
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Eddie Greenhalgh
Senior Vice President Investments
Financing By
