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SONIC 10319 Tower Rd 1,658 SF Retail Building Commerce City, CO 80022 $2,621,000 ($1,580.82/SF) 5.90% Cap Rate
Investment Highlights
- Long-Term Absolute NNN lease with 10 years remaining
- Northbound travelers along Tower Road able to turn left into subject property
- Proven above average sales performance (please reach out for details)
- Positioned off E-470 beltway exit 31, connecting highway to Denver International Airport
- Average Household Income exceeding $144,279 within a two-mile radius
Executive Summary
Lee & Associates is pleased to exclusively market for sale a single tenant, net-leased, SONIC Drive-In located at 10319 Tower Road in Commerce City, CO. The previous Operators, Rubyhill Denver LLC, have developed and operated 34 Sonic properties throughout the Denver, CO and Richmond, VA metro areas. The lease runs through April of 2036 and is absolute triple net, featuring no landlord responsibilities. The lease features 1% annual rent escalations throughout the primary term and three 5-year renewal options.
The 1,658 square-foot building sits on 1.01 AC and is located at the signalized intersection of Tower Rd and E 104th Ave, which experiences 22,000 vehicles per day. The property is less than one mile from E-470 and less than 10 minutes from Denver International Airport. Neighboring stores include Starbucks, Del Taco, Subway, Philips 66, and NAPA Autoparts. This investment provides investors with a rare opportunity to acquire a long-term single-tenant asset that combines proven sales performance with desirable real estate fundamentals in the booming Denver metropolitan area.
Lease Commencement Date: 11/1/2015
Lease Expiration Date: 4/30/2036
Renewal Options: Three 5-Year Options
Rent Escalation: 1% Annually During Primary Term and Options
Lease Type: Absolute NNN
Tenant: Sonic Drive-In
Year Built: 2006
Building Size: 1,658 SF
Land Size: 1.00 Acre
The 1,658 square-foot building sits on 1.01 AC and is located at the signalized intersection of Tower Rd and E 104th Ave, which experiences 22,000 vehicles per day. The property is less than one mile from E-470 and less than 10 minutes from Denver International Airport. Neighboring stores include Starbucks, Del Taco, Subway, Philips 66, and NAPA Autoparts. This investment provides investors with a rare opportunity to acquire a long-term single-tenant asset that combines proven sales performance with desirable real estate fundamentals in the booming Denver metropolitan area.
Lease Commencement Date: 11/1/2015
Lease Expiration Date: 4/30/2036
Renewal Options: Three 5-Year Options
Rent Escalation: 1% Annually During Primary Term and Options
Lease Type: Absolute NNN
Tenant: Sonic Drive-In
Year Built: 2006
Building Size: 1,658 SF
Land Size: 1.00 Acre
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,658 SF
Building Class
C
Year Built
2006
Price
$2,621,000
Price Per SF
$1,580.82
Cap Rate
5.90%
NOI
$154,647
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.01 AC
Zoning
C
Frontage
Amenities
- Restaurant
- Drive Thru
- Air Conditioning
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1723-16-1-21-009 | Improvements Assessment | $74,250 |
| Land Assessment | $153,250 | Total Assessment | $227,500 |
Property Taxes
Parcel Number
1723-16-1-21-009
Land Assessment
$153,250
Improvements Assessment
$74,250
Total Assessment
$227,500
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SONIC | 10319 Tower Rd
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