Listed by Bang Realty, Thomas Company
$2,300,000
1660 North Olden Avenue
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,471
Net Rentable (SqFt) 3,471
Cap Rate 6.00%
NOI $137,957
Tenancy Single
Lease Type Absolute NNN
Lease Expiration 11/30/2033
Rent Bumps Yes
Lease Options 4 x 5 Year Options
Year Built 2016
Acreage 0.920
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 11/20/2023
Ground Lease No
Retail | 6.00% CAP | 3,471 SqFt
Marketing description
Thomas Company is pleased to present a Sonic Drive-In located at 1660 North Olden Avenue in Ewing Township (Mercer County), New Jersey. This fee simple property totals 3,471 square feet on a 0.92-acre corner parcel along North Olden Avenue, featuring an absolute triple net lease (NNN) with contractual annual rent escalations and (4) five-year renewal options. The lease is backed by the Munson Group who is an experienced multi-unit operator over 30 locations across the Sonic and Buffalo Wild Wings systems, offering investors a low-risk, growing income stream with embedded upside ahead of the next rent reset.
Investment highlights
- Rare Highly Adaptable Format - At 3,471 square feet, this Sonic is more than double the size of a typical Sonic prototype, which generally runs approximately 1,500 square feet. The building also includes a dine-in area, an uncommon feature for the drive-in-focused Sonic format. Together, this larger footprint and dine-in component make the site far more adaptable to a wide range of other quick-service and fast-casual concepts than a standard, purpose-built Sonic drive-in, meaningfully lowering re-tenanting risk and providing investors with an added layer of occupancy security beyond the strength of the Sonic/Inspire Brands lease itself.
- Absolute Triple Net Lease Structure - This long-term, absolute NNN lease with zero landlord responsibilities is backed by the Munson Group, an experienced multi-unit operator with a portfolio of over 30 locations spanning both the Sonic and Buffalo Wild Wings systems, this dual-brand operating scale adds a further layer of financial depth and operational resilience.
- Embedded Rent Growth Opportunity - Base Rent escalates 2% annually throughout the initial term and all four renewal options, providing durable, contractual rent growth for the life of the investment. Reflecting the scheduled rent increase to $137,957 effective November 2026, the offering is priced at a 6.0% cap rate, with renewal options that could extend the lease through 2053.
- Irreplaceable, High-Traffic Infill Location - Positioned on a prime signalized corner along North Olden Avenue with over 25,000 vehicles per day, the site sits within a dense, established retail corridor anchored by national credit tenants including ShopRite, Home Depot, CVS, Walgreens, and Dunkin', and benefits from a deep, built-out trade area with over 250,000 people within five miles.
Listing Contacts
Listed by Bang Realty, Thomas Company
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$137,957.00
$11,496.42/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
