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Restaurant

Sonic

415 Magnolia Ave, Auburndale, FL 33823

Listing Price: $2,200,000

Cap Rate
4.25%
Tenant Name
Quality Drive-In I
Guarantor
Franchisee Guarantee
Rentable SF
1,612
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$58.00

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 415 Magnolia Ave in Auburndale, FL. The site will consist of roughly 1,612 rentable square feet of building space on estimated 0.91-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 $93,500 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

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

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Listing Price: $2,200,000

Cap Rate
4.25%
Tenant Name
Quality Drive-In I
Guarantor
Franchisee Guarantee
Rentable SF
1,612
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$58.00

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 415 Magnolia Ave in Auburndale, FL. The site will consist of roughly 1,612 rentable square feet of building space on estimated 0.91-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 $93,500 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.

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

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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