Restaurant

Sonic

1319 State St, White Pine, TN 37890

Listing Price: $1,050,000

Cap Rate
5.71%
Years Remaining On Lease
9.3
Gross SF
2,634
Rentable SF
2,634
Price/Gross SF
$398.63
Rent Per Square Feet
$22.78

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Sonic Drive-In located in White Pine, TN. This property is subject to a long-term Triple-Net (NNN) lease with more than 9 years remaining on the base term and features a corporate tenant in SRI Operating Company. The offering consists of 2,634 rentable square feet of building space and sits on approximately 0.43 acres of land. The initial annual rent is $60,000 and will be subject to 5% rental increases in each of the four (4), five (5)-year tenant renewal option periods.

Investment Highlights

  • Long Term Absolute Triple-Net (NNN) Lease | 9+ Years Remaining
  • Strong Inflation Hedge | 5% Rental Increases In Each Option Period
  • Four (4), Five (5)-Year Tenant Renewal Option Periods

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

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

Listing Price: $1,050,000

Cap Rate
5.71%
Years Remaining On Lease
9.3
Gross SF
2,634
Rentable SF
2,634
Price/Gross SF
$398.63
Rent Per Square Feet
$22.78

Investment Highlights

  • Long Term Absolute Triple-Net (NNN) Lease | 9+ Years Remaining
  • Strong Inflation Hedge | 5% Rental Increases In Each Option Period
  • Four (4), Five (5)-Year Tenant Renewal Option Periods

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Sonic Drive-In located in White Pine, TN. This property is subject to a long-term Triple-Net (NNN) lease with more than 9 years remaining on the base term and features a corporate tenant in SRI Operating Company. The offering consists of 2,634 rentable square feet of building space and sits on approximately 0.43 acres of land. The initial annual rent is $60,000 and will be subject to 5% rental increases in each of the four (4), five (5)-year tenant renewal option periods.

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

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

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