Sonic Drive-In

Winder, GA

Price $1,795,000
Cap Rate 6.15%
TYPE Single-Tenant
STATUS Available
Tenant Sonic Drive-In
LEASE TYPE Absolute NNN
SQUARE FEET 1,729
PRICE/SQ FT $1,038
YEAR BUILT 2003
LEASE EXP. 2032
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

Sonic Drive-In has a brand new 15 year Absolute NNN lease with 7.0% rental escalations every 5 years and three 5 year renewal options. This property has 2 lease guarantors, RLGH Holdings, LLC and ACW Holdings, LLC, together having a combined 15 unit guaranty with experienced Sonic Franchisee. Sonic has been open for business since 2003 with an attractive 8.10% rent to sales ratio and was recently remodeled in 2017 with refaced canopies/building and LED lighting, costing the tenant approximately $125,000.

Sonic is located in Winder, Georgia, in a high profile location on the hard corner. The property sits in an infill location downtown on the main retail corridor just one block off the busiest intersection in the market. Sonic is 2 miles from Northeast Georgia Medical Center Barrow. Nearby retailers include Publix Super Market, CVS Pharmacy, Rite Aid,  Walgreens, O’Reilly Auto Parts, Advance Auto Parts, ALDI, Ace Hardware & Lumber Center, Save-A-Lot, Goodwill, Cato, Bealls Outlet, Rent-A-Center, Dollar General, Ingles Markets, Walmart, Tractor Supply Co., etc.

*In Association With: Summit Real Estate

Property Highlights

  • Brand New 15 Year Absolute NNN Lease with 7.0% Rental Escalations every 5 Years
  • Open for Business since 2003 with an Attractive 8.10% Rent-to-Sales Ratio!
  • Positioned on the Hard Corner of S Center St & W May St (Hwy 29) where Traffic Counts Exceed 24,400 CPD!
  • Demographics (10 MI): Total Population: 128,850 | Average Household Income: $75,085 | Population Growth 2010-2017: 12.57%
  • Lease Guarantors: RLGH Holdings, LLC (8 Unit Operator) & ACW Holdings, LLC (7 Unit Operator) – Combined 15 Unit Guaranty with an Experienced Sonic Franchisee
  • Infill Location in Downtown Winder Main Retail Corridor – One Block off Busiest Intersection in the Market!
  • Recent Remodel Completed December 2017 – Added Drive-Thru, Refaced Canopies/Building, LED Lighting (Est. ±$125,000)