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Sonic Restaurant
Retail | 5.20% CAP | 1,700 SF
Listing Contacts
License: OR 900800253
Active
Asking Price: $4,200,000
Address
63076 N Hwy 97, Bend, OR 97701
Show on MapDate Added
Jun 24, 2022
Days on Market
995 days
Time Since Last Update
59 days
Details
Property TypeRetail
SubtypeQSR/Fast Food
Investment TypeNet Lease
ClassB
Lease TypeAbsolute NNN
Tenant CreditFranchisee
TenancySingle
Brand/TenantSonic
Lease Term11 years
Lease Expiration12/31/2033
Remaining Term11 years
Square Footage1,700
Net Rentable (sq ft)1,700
Price/Sq Ft$2,470.59
Cap Rate5.20%
Occupancy100%
NOI$216,000
Units1
Year Built2008
Year Renovated2021
Buildings1
Stories1
ZoningCommercial
Lot Size (acres)0.81
Price/Acre (Land Value)$115,303,320/acre
Rent BumpsEvery five years
APN118153
Lease OptionsAbsolute NNN
Ground LeaseNo
Sale Condition1031 exchange
Marketing Description
Tenant currently operates 9 Sonics in Oregon and Northern California. Tenant has been involved with Sonic over 35 years. This lease is signed with personal guarantee with zero landlord responsibilities making this an ideal management-free passive investment. Sonic was founded in 1953 and is the nations largest chain of drive-in restaurants with more than 3,500 drive-ins serving approximately 3 million customers every day
Investment Highlights
Zero landlord responsibility Constructed in 2008 High traffic intersection Located next to Dairy Queen built in 2013 Strong demographics—124,000 people in 10 mile radius, average household income—$98,000 Nearby national tenants (The Home Depot, Lowe’s, Tesla, Target, Best Buy, Bed Bath & Beyond, Trader Joes, PetSmart, Dick’s Sporting Goods, World Market, Starbucks, Chick-Fil-A, Hobby Lobby, Petco, Chipotle, Panda Express, Cracker Barrel, TJ Maxx) and many more
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$216,000.00
$18,000.00/mo
Valuation Metrics
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0
DSCR
5.14%
Cap Rate
5.14%
ROI
Property History
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Due Diligence
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Listing Contacts
- License: OR 900800253
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