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Restaurant

Sonic

704 E Geoffrey St, St. Augustine, FL 32086

Listing Price: $2,105,263

Cap Rate
4.75%
Tenant Name
Quality Dine-In
Guarantor
Corporate Guarantee
Rentable SF
3,379
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.59

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 704 E Geoffrey Street in Saint Augustine, FL. The site will consist of roughly 3,379 rentable square feet of building space on estimated 0.78-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 $100,000 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

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Listing Price: $2,105,263

Cap Rate
4.75%
Tenant Name
Quality Dine-In
Guarantor
Corporate Guarantee
Rentable SF
3,379
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.59

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 704 E Geoffrey Street in Saint Augustine, FL. The site will consist of roughly 3,379 rentable square feet of building space on estimated 0.78-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 $100,000 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

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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