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Sonic | Absolute NNN 3221 Palmer Hwy 1,781 SF Retail Building Texas City, TX 77590 $2,909,000 ($1,633.35/SF) 5.50% Cap Rate
Investment Highlights
- 13+ Years Remaining | Scheduled Rental Increases | Strong Operator (53 units) | Established Brand
- Palmer Plaza | Texas City Bay | Highly Trafficked Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
• The tenant currently has 13+ years remaining on their initial lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years during the initial lease term and at the beginning of each option, growing NOI and hedging inflation
• Lease is guaranteed by the Sonic entity. Parent company here is Emerge!Restaurant Group with nearly 200 restaurants across all their brands
• The lease features 10% rental increases every 5 years during the initial lease term and at the beginning of each option, growing NOI and hedging inflation
• Lease is guaranteed by the Sonic entity. Parent company here is Emerge!Restaurant Group with nearly 200 restaurants across all their brands
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,781 SF
Building Class
C
Year Built
2009
Price
$2,909,000
Price Per SF
$1,633.35
Cap Rate
5.50%
NOI
$160,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.90 AC
Zoning
E - General Business
Parking
33 Spaces (18.53 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
Nearby Major Retailers
Property Taxes
| Parcel Number | 7053-0003-0006-000 | Improvements Assessment | $685,160 |
| Land Assessment | $250,210 | Total Assessment | $935,370 |
Property Taxes
Parcel Number
7053-0003-0006-000
Land Assessment
$250,210
Improvements Assessment
$685,160
Total Assessment
$935,370
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Sonic | Absolute NNN | 3221 Palmer Hwy
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