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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
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
Building Size
1,227 SF
Building Class
B
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)
Amenities
- Restaurant
- Signage
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Sonic Drive-In
- Accommodation and Food Services
-
99,999 SF
- -
-
Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Sonic Drive-In | Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
1 of 9
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