Listed by Marcus & Millichap
$1,594,000
Sonic | Crystal River, FL
Details
APN 17E18S21 22210
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 1,544
Units 1
Cap Rate 6.00%
NOI $95,676
Occupancy 100%
Tenancy Single
Brand/Tenant Sonic
Lease Expiration 01/31/2041
Remaining Term 15
Lease Options Two, 5-Year
Year Built 2008
Year Renovated 2021
Stories 1
Acreage 0.880
Tenant Credit Franchisee
Ground Lease No
New 15-Year Lease | Recently Renovated | Low Rent QSR
Investment highlights
Lease
- Fresh 15-year base term
- 2% annual rental increases
- NNN – No Landlord Responsibilities
- Two, 5- Year Options
- Blended CAP over base term – 6.92%
Low Rent QSR
- Tenant is paying $95,676 per year, significantly lower than the average rent for a QSR in Florida
Recent Renovation
- Store was completely renovated in 2021
- With both stalls and a drive thru, this Sonic Drive-In location is positioned to handle significant guest volume.
Crystal River, FL
- Located on a signalized intersection of US Hwy 19, which sees 22,500 cars per day!
- Located in the heart of Crystal River, FL
- Solid demographics (Population Density & Household Income) that are linear with target customer.
- Surrounded by national retailers including: McDonald’s, Home Depot, Chili’s, ALDI, Wells Fargo, Bank of America, Starbucks, Wendy’s, Burger King, Walgreens, CVS, Wawa, and more!
Listing Contacts
Listed by Marcus & Millichap
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$95,676.00
$7,973.00/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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