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Restaurant

Sonic

707 E Main St, Allen, TX 75002

Listing Price: $2,763,511

Cap Rate
5.00%
Tenant Name
AFG SR Allen, LLC
Years Remaining On Lease
19.8
Guarantor
Franchisee Guarantee
Rentable SF
1,164
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$118.71

Investment Overview

INVESTMENT SUMMARY Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 707 East Main Street in Allen, TX. The site will consist of roughly 1,164 rentable square feet of building space on estimated 0.99-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 $138,176 and is scheduled to increase by one-and-a-half percent (1.50%) annually starting year six (6) 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 AFG SR OP I, LLC (25 Units)
  • 1.50% Annual Rental Increases Starting Year Six (6)

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Listing Price: $2,763,511

Cap Rate
5.00%
Tenant Name
AFG SR Allen, LLC
Years Remaining On Lease
19.8
Guarantor
Franchisee Guarantee
Rentable SF
1,164
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$118.71

Investment Highlights

  • 20-Year Absolute Triple-Net (NNN) Sale-leaseback
  • Franchisee Guarantee from AFG SR OP I, LLC (25 Units)
  • 1.50% Annual Rental Increases Starting Year Six (6)

Investment Overview

INVESTMENT SUMMARY Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 707 East Main Street in Allen, TX. The site will consist of roughly 1,164 rentable square feet of building space on estimated 0.99-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 $138,176 and is scheduled to increase by one-and-a-half percent (1.50%) annually starting year six (6) throughout the base term and in each of the four (4), five (5)-year renewal options.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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