Listed by Marcus & Millichap
$2,131,000
Sonic | Mercedes, TX | 7.26% Cap First Year of Ownership
Details
APN 1470405
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 1,500
Net Rentable (SqFt) 1,500
Units 1
Cap Rate 6.75%
NOI $143,894
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 16
Lease Expiration 06/15/2042
Remaining Term 16
Rent Bumps Yes
Lease Options 2, Five-Year Options
Pro-Forma Cap Rate 7.26%
Pro-Forma NOI $154,686
Price per SqFt $1,421
Year Built 2022
Stories 1
Acreage 0.980
Investment Type Net Lease
Lease Commencement 07/15/2022
Ground Lease No
Sale Condition 1031 exchange
7.26% Cap Within First Year of Ownership
Marketing description
See OM for Details
Investment highlights
Lease
- 16+ Years Remaining on the Base Term
- Attractive 7.5% Rent Increases Every 5 years With an Upcoming Increase in the First 12 Months of ownership
- NNN – No Landlord Responsibilities
New Sonic Construction
- Newly Constructed in 2022 to Sonic’s Latest Prototype Design, Incorporating Updated Branding and a More Efficient Layout
Location
- Positioned on a Signalized, Hard-Corner Retail Site with Direct Visibility from Interstate 2, Which Carries Approximately 59,000 Vehicles Per Day
- Strong Surrounding Demographics with 55,000 Residents Within a 5-mile Radius and Projected 4.1% Population Growth by 2030
- 1-mile from Rio Grande Valley Premium Outlets (attracts over 7 million visitors annually).
Personal Guaranty – Al Trevino / CEO of Crush Enterprises
- Proven Sonic Franchise Operator with Over 19 Locations Across Four States
- Active Growth – 10 Additional Sites Planned Throughout South Texas
Listing Contacts
Listed by Marcus & Millichap
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$143,894.00
$11,991.17/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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