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- LoopNet Team
1600 N Park Blvd
Pittsburg, CA 94565
Sonic Drive-In · Retail Property For Sale
Property Facts
Amenities
- Freeway Visibility
- Restaurant
- Signalized Intersection
- Drive Thru
About 1600 N PARK BLVD , PITTSBURG, CA 94565
THE OFFERING is a sale/leaseback Sonic with drive thru in Pittsburg, California. Pittsburg is located approximately 40 miles east of San Francisco and 30 miles east of Berkeley/Oakland. The subject property is located off Highway 4 - the major east-west highway serving over 115,000 vehicles a day. Los Medanos Community College is located less than one mile from the subject property with an average annual enrollment of over 9,000. At closing, the tenant will execute a 20-year absolute net lease with 10% rental increases every 5 years providing a reliable long term income stream to the investor. The guarantor is an experienced multi-concept franchisee that has over 25 other restaurants under the Popeyes, Black Bear Diner, Sonic, and Twin Peaks flags. The lease includes a strong personal guarantee and a sales reporting provision providing for transparency and security to a new owner.
Property Taxes
| Parcel Number | 088-151-044-0 | Improvements Assessment | $2,272,868 |
| Land Assessment | $1,561,724 | Total Assessment | $3,834,592 |
Property Taxes
