Sonic Drive-In Ground Lease,
Clinton, TN Investment Summary
| Price | $2,060,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | Between 7-8% Rental Increases Every Five (5) Years |
| Year Built | 2021 |
| Building Size | 1,227 SF |
| Lot Size | 1.36 Acres (59,096 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
20-YEAR ABSOLUTE NNN CORPORATE GROUND LEASE
» 20-year absolute NNN ground lease with scheduled rental increases, providing a hedge against inflation
» Sonic Drive-In has over 3,500 locations in 45 states and is a subsidiary of Inspire Brands, with over 32,000 restaurants in 55 countries and $27B in sales
» No landlord management
» Ideal investment opportunity for an out-of-area investor
HIGH-VISIBILITY LOCATION IN GROWING COMMUNITY
» Located along North Charles G. Seivers Boulevard with excellent visibility and access to 33,000 vehicles per day
» Beneficial proximity to Interstate 75 (48,660 AADT), increasing traffic in the area
» Surrounded by a strong mix of local and national tenants such as Walmart Supercenter, Walgreens, McDonald’s, Wendy’s, Burger King, Zaxby’s, and many others
» Average household income of $75,595 within one mile of the site, projected to increase 18 percent in five years
CENTRAL LOCATION NEAR LARGE SCHOOLS, EMPLOYERS AND COMMUNITY HUBS
» One mile from Aisin Automotive Casting Tennessee (882 employees) and I-75 Industrial Park (2,500 employees)
» Within walking distance to Anderson County High School (1,124 students)
» Seven hotels within a one-mile radius with 472 rooms, providing a regular customer base for the site
» Prominent location near single and multi-family developments
» 19 miles from Knoxville (population of 190,740), the third-largest city in Tennessee
NEW 2021 CONSTRUCTION WITH DEDICATED DRIVE-THRU
» 2021 construction featuring dedicated drive-thru lane, providing additional customer convenience
» Drive-thru designed to accommodate 13 cars
Property Description
SOLD
The subject property is located along North Charles G. Seivers Boulevard, with excellent visibility and access to 33,000 vehicles per day. The site maintains beneficial proximity to Interstate 75 (48,660 AADT), increasing traffic to the location. The property is one mile from Aisin Automotive Casting Tennessee, one of the largest employers in the area with 882 employees. The location is also one mile from I-75 industrial park (2,500 employees). The site is centrally located in a growing commercial and retail corridor and surrounded by national tenants such as Walmart Supercenter, Walgreens, McDonald’s, Wendy’s, Burger King, Zaxby’s, and many others. The site benefits from its prime location near large single and multi-family units.
The property is strategically located near seven hotels within a one-mile radius (472 rooms) and walking distance to Anderson County High School (1,124 students). The location is 19 miles from Knoxville, the third-largest city in Tennessee with a population of 190,740. The property is supported by 20,307 residents living within five miles of the site, providing a stable customer base. Additionally, the property resides in a growing community, with an average household income of $75,595 within a one-mile radius and projected to increase by 18 percent in the next five years. Clinton and Sonic are poised to grow along with the surrounding area.
