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Sonic

Norcross, Georgia

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Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 6050 Jimmy Carter Boulevard in Norcross, GA. The site will consist of roughly 1,605 rentable square feet of building space on estimated 1.04-acre parcel of land. The Sonic is subject to a 20-year absolute triple-net (NNN) sale-leaseback, which will commence upon close of escrow. The initial annual rent will be $91,640 and is scheduled to increase by one-and-a-half percent (1.50%) annually starting year six (6) throughout the base term and in each of the four (4), five (5)-year renewal options.

About the Investment:

  • 20-Year Absolute Triple-Net (NNN) Sale-leaseback
  • Franchisee Guarantee from AFG SR OP II, LLC (18 Units)
  • 1.50% Annual Rental Increases Starting Year Six (6)
  • Four (4), Five (5)-Year Tenant Renewal Option Periods

About the Location:

  • Dense Retail Corridor | Surrounded By Public Storage, Dollar Tree, Wells Fargo, Pappadeaux, The Varsity , Dunkin Donuts, Starbucks and Many Others
  • Affluent Suburban Community | Average Household Income Exceeds $105,000 for Homes within 10 Miles of the Subject Property
  • Robust Demographics | More than 277,000 Individuals Reside within a Five-Mile Radius of the Subject Property
  • Strong Student Presence | More than 10,000 Students Attend Schools in Close Proximity to the Subject Property
  • Dense Industrial Corridor | OFS Fitel, US Cabinet Depot, Univar, Peterson, Atlantic Properties and Many Others All within a One-Mile Radius of the Subject Property
  • Strong Traffic Counts | Jimmy Carter Boulevard and I-85 | Average 22,000 and 46,000 Vehicles Per Day, Respectively
  • Approximately 30 Mile from Downtown Atlanta | Georgia‚Äôs Capital and Most Populous City

About the Brand:

  • Sonic Drive-In Opened Their First Restaurant in 1953 and Now Maintains More Than 3,600 Drive-In Restaurants
  • Sonic Continues to Thrive | Maintenance of Strong Real Sales Growth, Industry-Leading Customer Frequency, and High Returns for Stockholders
  • Rated Top QSR Restaurant Chain in 14 States Amidst Covid-19 Pandemic

Key Details

Price:
$1,779,425
Cap Rate:
5.15%
Annual Rent:
$91,640
Address:
6050 Jimmy Carter Boulevard, Norcross, Georgia 30071
Property Type:
Net Leased Quick Service Restaurant
Lease Type:
Absolute Triple-Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Close of Escrow
Lease Expiration:
20 Years From COE
Lease Term Remaining:
20 Years
Rental Increases:
1.50% Annually Starting Year Six (6)
Lot Size:
+/-1.04 Acres
Building Size:
1,605 SF
Year Built:
2001
Tenant:
Sonic

Broker of record

John Leonard

License: 252904


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