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Restaurant

Sonic Greer

119 S Buncombe Rd, Greer, SC 29650

Listing Price: $2,080,000

Cap Rate
4.62%
Tenant Name
Sonic
Years Remaining On Lease
11.3
Gross SF
1,717
Guarantor
Franchisee Guarantee
Rentable SF
1,717
Price/Gross SF
$1,211.42
Lease Type
Absolute Net
Rent Per Square Feet
$55.91

Investment Overview

Marcus & Millichap is pleased to present a South Carolina absolute NNN fee-simple Sonic drive-thru opportunity on the high traffic corridor of West Wade Hampton Boulevard and South Buncombe Road in the City of Greer, South Carolina. 119 South Buncombe Road presents investors with a long term leased absolute NNN fee-simple lease. The “essential use” operator has over 11 years remaining on their initial 15 year term with favorable seven percent increases every five years through the term and options. The site benefits from its signalized hard corner location on West Wade Hampton Boulevard and South Buncombe Road that sees over 58,000 cars per day on the substantial retail corridor. The site is located just five miles south of the Greenville-Spartanburg International Airport which saw 2.61 million passengers in 2019 and the only BMW Manufacturing facility in North America which employs over 11,000 people. The location benefits from a captive population of over 102,727 people and average household income of over $83,516 in a five-mile radius. Other surrounding tenants include Target, Walmart, Home Depot, Lowes, Tractor Supply Company, Aldi, Food Lion, Kohl’s, Hobby Lobby, Dollar Tree, Harbor Freight Tools, Goodwill, Ross, Five Below, Belk, Planet Fitness, Golds Gym, CVS, Walgreens, Wells Fargo, McDonald’s, Chick-Fil-A, Burger King, Fuddruckers, Dairy Queen, KFC, Arby’s, Taco Bell, Popeye’s, Wendy’s, Starbucks, Dunkin’, Jiffy Lube, Firestone Auto Repair, and many more.

Investment Highlights

  • Over 11 Years Remaining on Fee-Simple Absolute NNN Lease with Zero Landlord Responsibilities
  • Essential Use – Pandemic & Recession Resistant
  • Attractive 7 Percent Increases During Five Year Options – Healthy Hedge Against Inflation
  • Excellent Visibility on South Buncombe Road with Ideal Access, Drive-Thru, and Drive-In Use
  • Excellent 1031 Exchange Property – Low Price Point
  • Four Miles from Greenville-Spartanburg International Airport, South Carolina's Second Busiest Airport that Saw 2.61 Million Passengers in 2019
  • 5.3 Miles North of BMW Spartanburg which is BMW Group's Only Assembly Facility in the United States that Employs Over 11,000 People

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Financing By

Restaurant

Sonic Greer

Listing Price: $2,080,000

Cap Rate
4.62%
Tenant Name
Sonic
Years Remaining On Lease
11.3
Gross SF
1,717
Guarantor
Franchisee Guarantee
Rentable SF
1,717
Price/Gross SF
$1,211.42
Lease Type
Absolute Net
Rent Per Square Feet
$55.91

Investment Highlights

  • Over 11 Years Remaining on Fee-Simple Absolute NNN Lease with Zero Landlord Responsibilities
  • Essential Use – Pandemic & Recession Resistant
  • Attractive 7 Percent Increases During Five Year Options – Healthy Hedge Against Inflation
  • Excellent Visibility on South Buncombe Road with Ideal Access, Drive-Thru, and Drive-In Use
  • Excellent 1031 Exchange Property – Low Price Point
  • Four Miles from Greenville-Spartanburg International Airport, South Carolina's Second Busiest Airport that Saw 2.61 Million Passengers in 2019
  • 5.3 Miles North of BMW Spartanburg which is BMW Group's Only Assembly Facility in the United States that Employs Over 11,000 People

Investment Overview

Marcus & Millichap is pleased to present a South Carolina absolute NNN fee-simple Sonic drive-thru opportunity on the high traffic corridor of West Wade Hampton Boulevard and South Buncombe Road in the City of Greer, South Carolina. 119 South Buncombe Road presents investors with a long term leased absolute NNN fee-simple lease. The “essential use” operator has over 11 years remaining on their initial 15 year term with favorable seven percent increases every five years through the term and options. The site benefits from its signalized hard corner location on West Wade Hampton Boulevard and South Buncombe Road that sees over 58,000 cars per day on the substantial retail corridor. The site is located just five miles south of the Greenville-Spartanburg International Airport which saw 2.61 million passengers in 2019 and the only BMW Manufacturing facility in North America which employs over 11,000 people. The location benefits from a captive population of over 102,727 people and average household income of over $83,516 in a five-mile radius. Other surrounding tenants include Target, Walmart, Home Depot, Lowes, Tractor Supply Company, Aldi, Food Lion, Kohl’s, Hobby Lobby, Dollar Tree, Harbor Freight Tools, Goodwill, Ross, Five Below, Belk, Planet Fitness, Golds Gym, CVS, Walgreens, Wells Fargo, McDonald’s, Chick-Fil-A, Burger King, Fuddruckers, Dairy Queen, KFC, Arby’s, Taco Bell, Popeye’s, Wendy’s, Starbucks, Dunkin’, Jiffy Lube, Firestone Auto Repair, and many more.

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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