Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

913 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Sonic | New 20yr Abs NNN | 2024 Construction 1815 Expressway 83 1,227 SF Retail Building Penitas, TX 78576 $2,312,000 ($1,884.27/SF) 6.25% Cap Rate

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

INVESTMENT HIGHLIGHTS

Brand New 20-Year Lease | New Construction | Scheduled Rental Increases | Experienced Operator
Outparcel to Walmart Supercenter | Villas at Penitas Apartments |Developing Fast Food Area | Primary Retail Corridor

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Strong Demographics in 5-Mile Trade Area

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Sonic investment property located in Penitas, Texas. The tenant, Crush TX, LLC recently signed a brand new 20-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases every 5 years throughout the lease and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The asset was recently constructed and is now open for business. The operator, Crush TX, LLC (Information Here), has built and developed over 14 Sonic Drive-Ins in South Texas. The company is currently implementing a $28 Million Sonic Drive-In re-introduction to the Rio Grande Valley.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Fast Food

Building Size

1,227 SF

Building Class

Year Built

2024

Price

$2,312,000

Price Per SF

$1,884.27

Cap Rate

6.25%

NOI

$144,498

Tenancy

Single

Building Height

1 Story

Building FAR

0.03

Lot Size

1.05 AC

Opportunity Zone

Yes

Zoning

C-1 - Commercial

Parking

49 Spaces (39.93 Spaces per 1,000 SF Leased)

Restaurant

Signage

Drive Thru

Accommodation and Food Services
99,999 SF
-
Lorem Ipsum
Jan 0000

Sonic Drive-In is an American drive-in fast-food chain founded in 1953 in Shawnee, Oklahoma. The company grew from a small root beer stand originally known as Top Hat before adopting the Sonic name in 1959. Over the decades, it expanded across the United States with a model centered on car-based ordering and service. Sonic became known for its extensive drink options, customizable menu items, and the use of carhops for food delivery. The brand continues to operate as a subsidiary of Inspire Brands, a restaurant holding company that acquired it in 2018. Sonic maintains its headquarters in Oklahoma City, where corporate operations and brand management are based. The company remains privately held under Inspire Brands and continues to oversee a national franchise system.