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Sonic Drive-In 1333 SW Main Blvd 1,412 SF Retail Building Lake City, FL 32025 $2,356,000 ($1,668.56/SF) 5.89% Cap Rate
Investment Highlights
- Long Term Absolute NNN Lease w/ Zero Landlord Responsibilities
- Operated by a Top-200 Franchisee and One of Sonic's Largest Operators
- Positioned Along SW Main Boulevard with Approx. 20,000 Vehicles Per Day
- 7% Increases Every Five Years
- Largest Drive-in QSR Chain in the US with 3,500+ Locations Across 46 States
- Lake City Population Has Grown 8% Since 2020, Increasing Approx. 2% Annually
Executive Summary
Berlin Group is pleased to present this Sonic-leased property in Lake City, comprising approx. 1,412 square feet with a drive-thru lane and multiple covered carhop stalls. The asset benefits from prime frontage along SW Main Boulevard, the market’s main commercial corridor with excellent visibility and traffic counts of roughly 20,000 vehicles per day.
This property is leased on an Absolute NNN basis with approx. 16 years of remaining term, backed by a top-200 franchisee and one of the brand’s most successful operators. The lease provides investors with long-term cashflow, featuring 7% rent increases every five years that offer built-in protection against inflation.
This property is leased on an Absolute NNN basis with approx. 16 years of remaining term, backed by a top-200 franchisee and one of the brand’s most successful operators. The lease provides investors with long-term cashflow, featuring 7% rent increases every five years that offer built-in protection against inflation.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,412 SF
Building Class
B
Year Built
1999
Price
$2,356,000
Price Per SF
$1,668.56
Cap Rate
5.89%
NOI
$138,670
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
1.29 AC
Zoning
GC - General Commercial Zoning District
Parking
24 Spaces (17 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Drive Thru
- Monument Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 05-4S-17-07647-003 | Improvements Assessment | $241,709 |
| Land Assessment | $158,769 | Total Assessment | $400,478 |
Property Taxes
Parcel Number
05-4S-17-07647-003
Land Assessment
$158,769
Improvements Assessment
$241,709
Total Assessment
$400,478
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Sonic Drive-In | 1333 SW Main Blvd
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