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Restaurant

Sonic

1529 W Floyd Baker Blvd, Gaffney, SC 29341

Listing Price: $1,366,131

Cap Rate
5.15%
Tenant Name
AFG SR Gaffney, LLC
Years Remaining On Lease
19.8
Guarantor
Franchisee Guarantee
Rentable SF
1,493
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$47.12

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 1529 W Floyd Baker Blvd, in Gaffney, SC . The site will consist of roughly 1,493 rentable square feet of building space on estimated 0.60-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 $70,356 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 II, LLC (18 Units)
  • 1.50% Annual Rental Increases Starting Year Six (6)

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Financing By

Listing Price: $1,366,131

Cap Rate
5.15%
Tenant Name
AFG SR Gaffney, LLC
Years Remaining On Lease
19.8
Guarantor
Franchisee Guarantee
Rentable SF
1,493
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$47.12

Investment Highlights

  • 20-Year Absolute Triple-Net (NNN) Sale-leaseback
  • Franchisee Guarantee from AFG SR OP II, LLC (18 Units)
  • 1.50% Annual Rental Increases Starting Year Six (6)

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 1529 W Floyd Baker Blvd, in Gaffney, SC . The site will consist of roughly 1,493 rentable square feet of building space on estimated 0.60-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 $70,356 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

  • Benjamin Yelm

    Regional Manager

    (843) 952-2300

    License(s): SC: 86628

    South Carolina

Financing By

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