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Sonic Drive-In 1306 21st St 1,351 SF Retail Building Lewiston, ID 83501 $1,391,000 ($1,029.61/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-year absolute net sale-leaseback featuring 1.5% annual rental increases throughout the base term and options
- Low rent-to-sales (ask Agent for more details)
- Parent company (Guernsey Holdings) is a top 5 Sonic franchisee nationally that operates 130+ locations across 10 states
- Hard corner location with drive-thru
- 8-unit PNW-based franchisee subsidiary backing the lease
- Busy retail corridor – nearby Albertsons and Home Depot are ranked in the 88th and 97th percentile respectively of grocery and home improvement stores
EXECUTIVE SUMMARY
Tenant to sign brand-new 20-year absolute net lease upon close of escrow that will feature 1.5% annual rental increases and four, 5-year options to extend. The guarantor is an 8-unit franchisee subsidiary of Guernsey Holdings – a top 5 Sonic franchisee nationally that operates 130+ locations across 10 states.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
1,351 SF
Building Class
C
Year Built/Renovated
2011/2024
Price
$1,391,000
Price Per SF
$1,029.61
Cap Rate
5.75%
NOI
$80,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.40 AC
Zoning
C6
Frontage
Walk Score®
Very Walkable (72)
NEARBY MAJOR RETAILERS
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Sonic Drive-In | 1306 21st St
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