Restaurant
Sonic Drive-In Ground Lease
8915 Fry Rd, Cypress, TX 77433
Listing Price: $1,790,000
Cap Rate
5.92%
Tenant Name
Sonic Drive-In
Years Remaining On Lease
6.0
Guarantor
Franchisee Guarantee
Rentable SF
1,483
Lease Type
NNN Ground Lease
Rent Per Square Feet
$71.39
Investment Overview
The subject property is a single tenant Sonic Drive-In ground lease opportunity in the desirable Cypress, Texas market.
Sonic Drive-In Ground Lease
Investment Highlights
- Experienced Tenant and Lease Guarantor - Established multi-brand franchisee with over 33 years of experience, with a personal guarantee
- Absolute Triple Net (NNN) Ground Lease - No Landlord expense or maintenance responsibilities
- Fixed Rental Increases - 10% Rental Increases every 5 years
- Attractive Pricing with Replaceable Rent - Lower priced ground lease with a major national brand at a below market rent
- Desirable Retail Location - Situated within Miramesa Town Center, a Walmart Supercenter with Gas anchored center with surrounding retail including McDonald's, Taco Bell, Whataburger, Panda Express, AutoZone, Express Oil & Tire Engineers, Murphy USA, Star CinemaGrill, Christian Brothers Automotive, Quick Quack Car Wash and numerous other retailers and businesses in the area
- Bridgeland Community - Located to the north, Bridgeland is a master-planned community spread over 11,400-acres and planned for +/- 20,000 homes with approx. 65,000 residents. New retail continues to come online in the area, including a new H-E-B and numerous other retailers
- Strong Demographics - Average Household Income of $144,322 and over 96,835 residents in a 3-mile radius
Exclusively Listed By
Broker of Record
-
Tim Speck
Executive Managing Director, Chief Revenue Officer -Texas/Mountain States/Pacific Northwest Division
Financing By
Listing Price: $1,790,000
Cap Rate
5.92%
Tenant Name
Sonic Drive-In
Years Remaining On Lease
6.0
Guarantor
Franchisee Guarantee
Rentable SF
1,483
Lease Type
NNN Ground Lease
Rent Per Square Feet
$71.39
Investment Highlights
- Experienced Tenant and Lease Guarantor - Established multi-brand franchisee with over 33 years of experience, with a personal guarantee
- Absolute Triple Net (NNN) Ground Lease - No Landlord expense or maintenance responsibilities
- Fixed Rental Increases - 10% Rental Increases every 5 years
- Attractive Pricing with Replaceable Rent - Lower priced ground lease with a major national brand at a below market rent
- Desirable Retail Location - Situated within Miramesa Town Center, a Walmart Supercenter with Gas anchored center with surrounding retail including McDonald's, Taco Bell, Whataburger, Panda Express, AutoZone, Express Oil & Tire Engineers, Murphy USA, Star CinemaGrill, Christian Brothers Automotive, Quick Quack Car Wash and numerous other retailers and businesses in the area
- Bridgeland Community - Located to the north, Bridgeland is a master-planned community spread over 11,400-acres and planned for +/- 20,000 homes with approx. 65,000 residents. New retail continues to come online in the area, including a new H-E-B and numerous other retailers
- Strong Demographics - Average Household Income of $144,322 and over 96,835 residents in a 3-mile radius
Investment Overview
The subject property is a single tenant Sonic Drive-In ground lease opportunity in the desirable Cypress, Texas market.
Exclusively Listed By
Broker of Record
-
Tim Speck
Executive Managing Director, Chief Revenue Officer -Texas/Mountain States/Pacific Northwest Division
Financing By
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