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Sonic Drive-In 5606 Milan Rd 1,512 SF Retail Building Sandusky, OH 44870 $1,540,000 ($1,018.52/SF) 6% Cap Rate
Investment Highlights
- Walmart Outparcel Location – Situated as an outparcel to a Walmart-anchored center along OH-14 in Streetsboro
- Affluent Demographics – The surrounding trade area features an average household income of $166,000+ within a 5-mile radius
- Absolute NNN Lease – Long-term absolute NNN lease with approximately 14.3 years of remaining term
- 74,000+ VPD Along Hwy 80 and OH-14 – The site benefits from dual-corridor exposure with direct access to Highway 80 (42,000+ VPD)
- 19+ Year Operating History | 85+ Unit Franchisee – The Sonic has operated continuously at this location for over 19 years
Executive Summary
Matt Wallace
License # BRKP.2024002419, REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
License # BRKP.2024002419, REC.2022007141 (OH)
Matthews Real Estate Investment Services, Inc
950 Main Ave., Suite 510, Cleveland, OH 44113
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,512 SF
Building Class
C
Year Built
2010
Price
$1,540,000
Price Per SF
$1,018.52
Cap Rate
6%
NOI
$92,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
1.93 AC
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 32-03469-000 | Improvements Assessment | $120,788 |
| Land Assessment | $353,524 | Total Assessment | $474,312 |
Property Taxes
Parcel Number
32-03469-000
Land Assessment
$353,524
Improvements Assessment
$120,788
Total Assessment
$474,312
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Sonic Drive-In | 5606 Milan Rd
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