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Restaurant

Sonny's BBQ Sale-Leaseback | High-Volume Location | Freshly Renovated Site

1001 Center Dr, Richmond, KY 40475

Listing Price: $3,190,420

Cap Rate
5.00%
Tenant Name
Sonny's BBQ
Guarantor
Franchisee Guarantee
Rentable SF
5,932
Lease Type
Absolute Net
Rent Per Square Feet
$26.89

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Sonny's BBQ restaurant located at 1001 Center Dr, in Richmond, KY. The site (recently renovated in 2021), consists of 5,932 total square feet of building space and sits on 1.3 acres of land. The site will be subject to a 15-year sale-leaseback with ACG BBQ, LLC. Starting in year one, the base rent shall be $159,521. The lease will call for 1.0% annual rental escalations during the base term and throughout the six, five-year renewal option periods (45-year total term). The subject property benefits from being located in a strong retail corridor surrounded by national and local tenants, shopping centers and hospitality accommodations. Located on a hard-corner with a signalized intersection, the subject property is surrounded with the following major tenants in the immediate area; Kroger, Walmart, Lowes, Hobby Lobby, Harbor Freight Tools, Walgreens, Dollar Tree, GameStop as well as many more. This Sonny's BBQ also benefits from its proximity to the Baptist Health Richmond Campus, Sherwin-Williams Distribution Center and Kentucky's Department of Criminal Justice Training Campus. Richmond serves as home to Eastern Kentucky University, a public university that holds over 14,000 students; adding additional layers of economic support to the market. The City of Richmond is comprised of a network of major highways that makes the subject property easily accessible from all parts of Kentucky and surrounding states.

Investment Highlights

  • Freshly renovated/remodeled historical performing store with a hard-corner, signalized intersection and drive-thru contributing to performance.
  • New 15-Year Absolute NNN Lease with Zero Landlord Responsibilities.
  • Access to Interstate 75 (I-75) with over 66,000+ AADT.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KY: 242197

    Kentucky

Financing By

Restaurant

Sonny's BBQ Sale-Leaseback | High-Volume Location | Freshly Renovated Site

Listing Price: $3,190,420

Cap Rate
5.00%
Tenant Name
Sonny's BBQ
Guarantor
Franchisee Guarantee
Rentable SF
5,932
Lease Type
Absolute Net
Rent Per Square Feet
$26.89

Investment Highlights

  • Freshly renovated/remodeled historical performing store with a hard-corner, signalized intersection and drive-thru contributing to performance.
  • New 15-Year Absolute NNN Lease with Zero Landlord Responsibilities.
  • Access to Interstate 75 (I-75) with over 66,000+ AADT.

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Sonny's BBQ restaurant located at 1001 Center Dr, in Richmond, KY. The site (recently renovated in 2021), consists of 5,932 total square feet of building space and sits on 1.3 acres of land. The site will be subject to a 15-year sale-leaseback with ACG BBQ, LLC. Starting in year one, the base rent shall be $159,521. The lease will call for 1.0% annual rental escalations during the base term and throughout the six, five-year renewal option periods (45-year total term). The subject property benefits from being located in a strong retail corridor surrounded by national and local tenants, shopping centers and hospitality accommodations. Located on a hard-corner with a signalized intersection, the subject property is surrounded with the following major tenants in the immediate area; Kroger, Walmart, Lowes, Hobby Lobby, Harbor Freight Tools, Walgreens, Dollar Tree, GameStop as well as many more. This Sonny's BBQ also benefits from its proximity to the Baptist Health Richmond Campus, Sherwin-Williams Distribution Center and Kentucky's Department of Criminal Justice Training Campus. Richmond serves as home to Eastern Kentucky University, a public university that holds over 14,000 students; adding additional layers of economic support to the market. The City of Richmond is comprised of a network of major highways that makes the subject property easily accessible from all parts of Kentucky and surrounding states.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KY: 242197

    Kentucky

Financing By

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