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Restaurant

Sonic

30939 Mill Ln, Spanish Fort, AL 36527

Listing Price: $2,200,000

Cap Rate
4.75%
Tenant Name
Quality Drive-In I
Guarantor
Franchisee Guarantee
Rentable SF
1,463
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$71.43

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.

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: $2,200,000

Cap Rate
4.75%
Tenant Name
Quality Drive-In I
Guarantor
Franchisee Guarantee
Rentable SF
1,463
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$71.43

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

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

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