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Sonic

Loganville, Georgia

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Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 190 Athens Highway in Loganville, Georgia. The site will consist of roughly 1,676 rentable square feet of building space on estimated 2.17-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 $152,250 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 | Walmart, Lowes, Publix, Extra Space, Ace Hardware, Mavis Discount Tire, Walgreens, IHOP, Starbucks and Many Others
Freestanding Property | Benefits from Excellent Frontage along Athens Highway
Affluent Population Boasting an Average Household Income of $97,000 for Homes within a 5-Mile Radius
Strong Demographics | Population within a 10-Mile Radius is More than 357,000
Compelling Location Fundamentals | Approximately 30 Miles From Atlanta, Georgia’s 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:
$2,900,000
Cap Rate:
5.25%
Annual Rent:
$152,250
Address:
190 Athens Highway, Loganville, Georgia 30052
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:
+/- 2.17 Acres
Building Size:
1,676 SF
Year Built:
2001
Tenant:
Sonic

Broker of record

John Leonard

License: 252904


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