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Sonic 14171 N Highway 231/431 1,490 SF Retail Building Hazel Green, AL 35750 $1,874,000 ($1,257.72/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease to Established Sonic Franchisee with Approximately 10 Years Remaining
- Personal Guaranty from Experienced Operator with 32 Units
- Strong Location in Huntsville Suburb – Growing Market
- Strong Store Sales with Percentage Rent Included – Rent-to-Sales Ratio of 7.00%
- Sonic is the Largest Drive-In Restaurant Brand in the U.S. with Over 3,500 Locations in 45 States
EXECUTIVE SUMMARY
Sonic is strategically located with frontage on U.S. Highway 231/431 (27,408 AADT). The total daytime population in 19,967 and the average household income is $80,900 within 5 miles. Hazel Green High School, Hazel Green Elementary, and two child care/development centers are all within a half mile of the site. Other restaurants and retailers in the vicinity include Walmart Supercenter, Walgreens, Foodland, Subway, Burger King, Zaxby's, Taco Bell, Arby's, and more. The new Townsend Place development is currently under construction less than half a mile north of the property. Townsend Place includes 325 acres of new single family homes and over 44 acres of commercial development along U.S. Highway 231/431.
This property is listed in conjunction with Alabama-licensed real estate broker Thomas Newton.
This property is listed in conjunction with Alabama-licensed real estate broker Thomas Newton.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,490 SF
Building Class
C
Year Built
2005
Price
$1,874,000
Price Per SF
$1,257.72
Cap Rate
6.50%
NOI
$121,818
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
1.60 AC
Parking
6 Spaces (4.03 Spaces per 1,000 SF Leased)
Frontage
44’ on U.S. 231
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 04-07-25-0-001-004.002 | Improvements Assessment | $73,060 |
| Land Assessment | $42,240 | Total Assessment | $115,300 |
PROPERTY TAXES
Parcel Number
04-07-25-0-001-004.002
Land Assessment
$42,240
Improvements Assessment
$73,060
Total Assessment
$115,300
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Sonic | 14171 N Highway 231/431
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