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Sonic

Gaffney, South Carolina

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Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 1529 W Floyd Baker Blvd, in Gaffney, SC . The site will consist of roughly 1,493 rentable square feet of building space on estimated 0.60-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 $70,356 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 Walmart, Aldi, Belk, Lowe’s, Dollar Tree, Sally’s Big Lots, Bank of America and Many Others
Located Less Than Two Miles from the Cherokee County History & Arts Museum | Relatively New Addition to the Area | Culturally Rich Attraction Enjoyed by Locals and Tourists Alike
Located Near Several Public Schools and Colleges which Enroll Over 13,000 Students
Freestanding Property with Great Frontage Along W Floyd Baker Boulevard
Proximal to Interstate 85 | A Major Southeastern Highway that Runs from Petersburg, VA to Montgomery, AL

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:
$1,366,131
Cap Rate:
5.15%
Annual Rent:
$70,356
Address:
1529 W Floyd Baker Blvd, Gaffney, South Carolina 29341
Property Type:
Net Leased Quick Service Restaurant
Lease Type:
Absolute Triple-Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
1.50% Annually Starting Year Six (6)
Lot Size:
+/- 0.60 Acres
Building Size:
1,493 SF
Year Built:
1995
Tenant:
Sonic

Broker of record

Ben Yelm

License: 86628


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