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Sonic 311 SW 3rd St 9,630 SF Retail Building Attalla, AL 35954 $1,417,000 ($147.14/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-Year Sale-Leaseback | Experienced Operator (191+ Units) | Options to Extend
- Close Proximity To Coosa Town Center | 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, guaranteed by Soar QSR (191+ unit operator) Sonic investment property located in Attalla, 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.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
9,630 SF
Building Class
B
Year Built
1998
Price
$1,417,000
Price Per SF
$147.14
Cap Rate
6%
NOI
$85,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.32
Lot Size
0.69 AC
Zoning
B-2 Central Business
Parking
26 Spaces (2.7 Spaces per 1,000 SF Leased)
AMENITIES
- Pylon Sign
- Restaurant
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 16-02-03-1-000-298.008 | Improvements Assessment | $50,540 |
| Land Assessment | $12,020 | Total Assessment | $62,560 |
PROPERTY TAXES
Parcel Number
16-02-03-1-000-298.008
Land Assessment
$12,020
Improvements Assessment
$50,540
Total Assessment
$62,560
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Sonic | 311 SW 3rd St
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