Sonic
651 Salt Lick Rd
St Peters, MO
Property Details
Available
STNL Sonic Drive-In with long term triple-net Lease in-place. The Subject Property is 100% leased (ground leased) to a growing Sonic Franchisee (50+ units guaranteeing the Lease). Desirable NNN Lease structure with over 18.5 years remaining inclusive of 2% annual rental increases & four additional five year extension options bring the total potential Lease term to over 38 years.
Net Operating
Income
$N/A
Year Built
1999
Lease Term
7/30/2040
Lot Size
0.82 Acres
Building Size
1,508 SQ FT
Property ID
Retail
Lease Structure
Absolute NNN Ground Lease
Ownership Type
Ground
Investment Details
Investment Highlights
- Absolute NNN Ground Lease with 18+ Years Remaining plus an additional Four (4) Five (5)-Yr Options | New 20 Year Lease Signed in 2020
- 50+ Unit Guarantee | Experienced & Growing Sonic Franchisee with Strong Financials
- 2% Annual Rental Increases | Strong & Above Market Hedge Against Inflation
- Proven Resiliency | Sonic is Pandemic, E-Commerce, & Recession Resistant | Strong National QSR Brand with Significant Momentum
- Excellent Demographics | Over 123,429 People Reside within 5-Miles of the Subject Property with an Avg. HH Income in Excess of $115,178
- Sonic Acquired by Inspire Brands in 2018 | Inspire Brands Portfolio Includes Arby’s, Dunkin’, Jimmy John’s, Buffalo Wild Wings, Baskin, Rusty Taco
asking price
$1,414,944
cap rate
5.00%
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