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Sonic 224 Dexter L. Wood Memorial 1,273 SF Retail Building Waynesboro, TN 38485 $1,507,000 ($1,183.82/SF) 7% Cap Rate
Investment Highlights
- Absolute NNN Lease to Established Sonic Franchisee with Approximately 7 Years Remaining
- Personal Guaranty from Experienced Operator with 32 Units
- Adjacent to Wayne Medical Center – Affiliated with Maury Regional Health, a Six-Time Top 15 Health System in the Nation
- Strong Store Sales with Percentage Rent Included – 7.00% Rent-to-Sales Ratio
- Sonic is the Largest Drive-In Restaurant Brand in the U.S. with Over 3,500 Locations in 45 States
- Located Near the Junction of State Route 13 and U.S. Route 64, 105 Miles South of Nashville, and 135 Miles from East Memphis
Executive Summary
The property is secured by an absolute NNN lease to an established Sonic franchisee with approximately 7 years remaining and a personal guaranty from an experienced 32-unit operator. Sonic operates more than 3,500 locations across 45 states and is the largest drive-in restaurant brand in the U.S. The property is adjacent to Wayne Medical Center and strategically located near the junction of State Route 13 and U.S. Route 64. The functional site includes a drive-thru, outdoor patio seating, and benefits from nearby national retailers and average household incomes exceeding $80,000 within a three-mile radius.
In association with Scott Reid & ParaSell, Inc. | P: 949.942.6578 | A Licensed Tennessee Broker #264531
In association with Scott Reid & ParaSell, Inc. | P: 949.942.6578 | A Licensed Tennessee Broker #264531
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,273 SF
Year Built
2009
Price
$1,507,000
Price Per SF
$1,183.82
Cap Rate
7%
NOI
$105,506
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
1.00 AC
Opportunity Zone
Yes
Parking
15 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
250’ on Dexter L Woods Memorial B
Somewhat walkable
30/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 077C-A-019.01 | Improvements Assessment | $120,440 |
| Land Assessment | $55,000 | Total Assessment | $175,440 |
Property Taxes
Parcel Number
077C-A-019.01
Land Assessment
$55,000
Improvements Assessment
$120,440
Total Assessment
$175,440
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Sonic | 224 Dexter L. Wood Memorial
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