1660 N Olden Avenue Ext
Ewing, NJ 08638
Sonic · Retail Property For Sale

Thomas Company is pleased to present the exclusive opportunity to acquire a single tenant Sonic Drive-In located at 1660 North Olden Avenue in Ewing Township (Mercer County), New Jersey. This fee simple property totals 3,471 square feet on a 0.92-acre corner parcel, more than double the size of a typical Sonic prototype and featuring a dine-in area uncommon to the drive-in-focused format — attributes that broaden the site's appeal to a wide range of quick-service and fast-casual users and meaningfully reduce re-tenanting risk. The Property operates under an absolute triple-net lease with zero landlord responsibilities, backed by a personal and corporate, joint and several guaranty from the Munson Group, an experienced multi-unit operator with over 30 locations spanning the Sonic and Buffalo Wild Wings systems. The lease features 2.00% annual rent escalations throughout the initial term and all four, five-year renewal options, providing durable contractual rent growth that could extend the lease through 2053. Reflecting the scheduled rent increase to $137,957 effective November 2026, the offering is priced at a 6.0% cap rate, giving investors embedded upside ahead of the next rent reset.
Sonic is a nationally recognized quick-service brand known for its distinctive drive-in format and carhop delivery service, operating over 3,500 locations across 45+ states. Sonic was acquired by Inspire Brands in 2018 and today operates as part of Inspire's multi-brand restaurant platform alongside Arby's, Buffalo Wild Wings, Jimmy John's, Dunkin', and Baskin-Robbins, which is majority-owned by Roark Capital, a leading private equity firm with a long track record of scaling franchise-based, multi-unit businesses.
The Property is positioned on a prime signalized corner along North Olden Avenue, benefiting from over 25,000 vehicles per day and situated within a dense, established retail corridor anchored by ShopRite, Home Depot, CVS, Walgreens, and Dunkin'. The site sits within the greater Trenton-Princeton metropolitan area, just minutes from The College of New Jersey and downtown Trenton, and approximately 10 miles from Princeton University, benefiting from spillover demand generated by the university's students, faculty, and visitors. More than 250,000 residents live within a five-mile radius of the site, with an average household income exceeding $106,000, further supported by nearby affluent communities including Lawrence Township.