1968 Gause Blvd
Slidell, LA 70461
Sonic Drive-In | Gause · Retail Property For Sale

Marcus & Millichap is pleased to offer for sale this SONIC Drive-In located in Slidell, Louisiana. SONIC has 20 years remaining on their NNN lease with four, five-year option periods. There is a five percent increase after the first five years, seven and a half percent increase on the second five years and a ten percent increase every five years there-after. The lease is guaranteed by four units and managed by Pac III Management, LLC, which has experience operating stores from both the franchisee and franchisor side. The management team is comprised of one of the original employees of the Wendy's franchise and former Director of Franchise Owners at Wendy's having opened over 2,000 stores during his tenure. Pac III Management also includes real estate development experience with a heavy emphasis on site selection and a track record for developing and managing in excess of 750 properties. All in all, between the managing partners, there are decades of experience in operating a variety of concepts including Golden Chick, Backyard Burgers, Wing Zone, Hardee's, Checkers, Wendy's, Popeyes and Perkins among others. SONIC has been successfully operating at this location since 2016 and Pac III Management intends to carry that success forward for decades into the future. The median age and average household income within a three-mile radius of the subject property is approximately 38 years and $78,300, respectively, which are ideal trade area demographics for SONIC. The subject property is located on Route 190, a daily traffic count of 21,000 vehicles per day, and one-half mile from Interstate 10. It is surrounded by quick-service restaurants, medical centers, schools, and national retail tenants including Walmart Supercenter and Lowe's. Located in Louisiana, the city of Slidell is located less than one hour north of New Orleans and is part of the New Orleans-Metairie-Kenner MSA. New Orleans is known for its vibrant culture, tourism, and the annual celebration of Mardi Gras. Downtown's French Quarter, Canal Street and Bourbon Street are filled with restaurants, hotels, bars and clubs. The New Orleans Jazz and Heritage Festival is one of the nation's largest music festivals held annually.