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Restaurant

Sonic Drive-In

1600 S Main St, London, KY 40741

Listing Price: $3,249,553

Cap Rate
4.85%
Tenant Name
Sonic Drive-In
Guarantor
Franchisee Guarantee
Rentable SF
1,417
Lease Type
Absolute Net
Rent Per Square Feet
$111.22

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Sonic Drive-In a single-tenant property located at 1600 South Main Street, London, Kentucky 40741. The subject property is comprised of 1,417 square feet, built-in 2003 and remodeled in 2017. Sonic Drive-In is surrounded by national tenants and located on South Main Street and just off KY-129 for a combined 40,144 vehicles per day. ½ mile from Sonic sits South Laurel Middle School and South Laurel High School for a combined 2,279 students. SONIC is the nation’s largest drive-in restaurant chain serving more than 3 million customers every day. Nearly 90 percent of SONIC’s 3,500 drive-in locations are owned and operated by local business men and women. SONIC has delighted guests with signature menu items, more than 1.3 million drink combinations and friendly service by iconic Carhops. Based out of Dallas, Texas - CMG Companies is a Franchise Times top 25 multi-unit franchise operator of restaurants, retail, and hotels. CMG operates in 30+ states with approximately 350+ restaurants, 110+ retail units and hotels, along with interests in real estate and other commercial investments. Their humble backgrounds and roots are centered in the hospitality space, operating restaurants since 2001 and hotels since 2010. Brands that CMG are currently involved with are KFC, Taco Bell, Marriott, Hilton, IHG, Genghis Grill, Sonic, Little Caesars, Rent-A-Center and Ace Hardware to name a few.

Investment Highlights

  • Absolute-Net (Zero Landlord Responsibilities): New 20 Year Lease with Attractive 1.5% Rental Increases Annually to Hedge Against Inflation.
  • Strong Existing Operating Entity: SOAR Restaurants II, LLC Operates 95 Units and Will Continue to Grow Over Time.
  • High Performing Store: Existing above National Average Store Sales with Continued Upside Through New Operator Ownership.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KY: 242197

    Kentucky

Restaurant

Sonic Drive-In

Listing Price: $3,249,553

Cap Rate
4.85%
Tenant Name
Sonic Drive-In
Guarantor
Franchisee Guarantee
Rentable SF
1,417
Lease Type
Absolute Net
Rent Per Square Feet
$111.22

Investment Highlights

  • Absolute-Net (Zero Landlord Responsibilities): New 20 Year Lease with Attractive 1.5% Rental Increases Annually to Hedge Against Inflation.
  • Strong Existing Operating Entity: SOAR Restaurants II, LLC Operates 95 Units and Will Continue to Grow Over Time.
  • High Performing Store: Existing above National Average Store Sales with Continued Upside Through New Operator Ownership.

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Sonic Drive-In a single-tenant property located at 1600 South Main Street, London, Kentucky 40741. The subject property is comprised of 1,417 square feet, built-in 2003 and remodeled in 2017. Sonic Drive-In is surrounded by national tenants and located on South Main Street and just off KY-129 for a combined 40,144 vehicles per day. ½ mile from Sonic sits South Laurel Middle School and South Laurel High School for a combined 2,279 students. SONIC is the nation’s largest drive-in restaurant chain serving more than 3 million customers every day. Nearly 90 percent of SONIC’s 3,500 drive-in locations are owned and operated by local business men and women. SONIC has delighted guests with signature menu items, more than 1.3 million drink combinations and friendly service by iconic Carhops. Based out of Dallas, Texas - CMG Companies is a Franchise Times top 25 multi-unit franchise operator of restaurants, retail, and hotels. CMG operates in 30+ states with approximately 350+ restaurants, 110+ retail units and hotels, along with interests in real estate and other commercial investments. Their humble backgrounds and roots are centered in the hospitality space, operating restaurants since 2001 and hotels since 2010. Brands that CMG are currently involved with are KFC, Taco Bell, Marriott, Hilton, IHG, Genghis Grill, Sonic, Little Caesars, Rent-A-Center and Ace Hardware to name a few.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KY: 242197

    Kentucky

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