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Sonic | 20yr Abs NNN SLB w/ Incrs 1888 Us Highway 431 7,094 SF Retail Building Boaz, AL 35957 $1,900,000 ($267.83/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-Year Sale-Leaseback | Experienced Operator (191+ Units) | Options to Extend | Established Location
- Walmart Supercenter Anchored Center | Boaz High School |Dense 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, guaranteed by Soar QSR (191+ unit operator) Sonic investment property located in Boaz, Alabama. Soar QSR is the 3rd largest Sonic franchisee and will sign a brand new, 20-year
lease at the close of escrow (sale-leaseback) with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term 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.
lease at the close of escrow (sale-leaseback) with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term 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.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,094 SF
Year Built
2003
Price
$1,900,000
Price Per SF
$267.83
Cap Rate
6%
NOI
$114,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.75 AC
Zoning
Commercial
Parking
35 Spaces (4.93 Spaces per 1,000 SF Leased)
AMENITIES
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 180931-1-001-002016 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $141,820 |
PROPERTY TAXES
Parcel Number
180931-1-001-002016
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$141,820
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Sonic | 20yr Abs NNN SLB w/ Incrs | 1888 Us Highway 431
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