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Restaurant

Sonic Drive-In

194 Brownswitch Rd, Slidell, LA 70458

Listing Price: $1,514,000

Cap Rate
5.50%
Tenant Name
North Florida Restaurant Group, Inc.
Years Remaining On Lease
18.5
Guarantor
Regional Franchisee
Rentable SF
1,455
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$57.24

Investment Overview

Marcus & Millichap is pleased to present Sonic Drive-In, a rare opportunity for an investor to purchase a truly iconic brand with a proven track record of success in the submarket of Slidell, Louisiana. The NNN lease is backed by Panhandle Restaurant Group's corporate entity, which has 10 units operational, 5 more units opening in the next several months, and another 10 locations targeted for construction to open in the next 12 months. This is an opportunity to invest in a guarantee that is slated to grow significantly over the next several years allowing the new owner to inherit a stronger guarantee with each new location they open. This location also includes a drive-thru along with stalls which positions it to handle significant guest volume. Finally, the subject property has been identified by the operator as a local staple, which is why they employ grassroots marketing campaigns to build relationships with the surrounding community making this location a hot-spot for family gatherings.

Investment Highlights

  • Long Term Lease - Over 18 Years Remaining
  • NNN Lease - No Landlord Responsibility
  • Recession & E-Commerce Proof
  • Strong Unit Sales with Healthy Rent to Sales Ratio
  • 2% Annual Increases Make the Average Cap Rate Over Base Term 6.61%
  • Population Density: 86,000+ Within 5-Mile Radius
  • Average Household Income: $74,830
  • Includes Both Stalls and Drive-Thru

Exclusively Listed By

Listing Price: $1,514,000

Cap Rate
5.50%
Tenant Name
North Florida Restaurant Group, Inc.
Years Remaining On Lease
18.5
Guarantor
Regional Franchisee
Rentable SF
1,455
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$57.24

Investment Highlights

  • Long Term Lease - Over 18 Years Remaining
  • NNN Lease - No Landlord Responsibility
  • Recession & E-Commerce Proof
  • Strong Unit Sales with Healthy Rent to Sales Ratio
  • 2% Annual Increases Make the Average Cap Rate Over Base Term 6.61%
  • Population Density: 86,000+ Within 5-Mile Radius
  • Average Household Income: $74,830
  • Includes Both Stalls and Drive-Thru

Investment Overview

Marcus & Millichap is pleased to present Sonic Drive-In, a rare opportunity for an investor to purchase a truly iconic brand with a proven track record of success in the submarket of Slidell, Louisiana. The NNN lease is backed by Panhandle Restaurant Group's corporate entity, which has 10 units operational, 5 more units opening in the next several months, and another 10 locations targeted for construction to open in the next 12 months. This is an opportunity to invest in a guarantee that is slated to grow significantly over the next several years allowing the new owner to inherit a stronger guarantee with each new location they open. This location also includes a drive-thru along with stalls which positions it to handle significant guest volume. Finally, the subject property has been identified by the operator as a local staple, which is why they employ grassroots marketing campaigns to build relationships with the surrounding community making this location a hot-spot for family gatherings.

Exclusively Listed By

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