About This Restaurant
Investment Highlights
20-Year Absolute Triple-Net (NNN) Lease 1.50% Annual Rental Increases Starting Year Two Franchisee Guarantee from Quality Huts Drive-In (+70-units)
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for the Sonic located at 2407 N Broad St in Selma, AL . The site will consist of roughly 1,479 rentable square feet of building space on estimated 1.21-acre parcel of land. The Sonic is subject to a 20-year absolute triple-net (NNN) lease, which commenced on September 1st, 2023. The initial annual rent will be $115,000 and is scheduled to increase by one-and-a-half percent (1.50%) annually starting year two (2) throughout the base term and in each of the four (4), five (5)-year renewal options.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food
- Building Size 1,479
- Building Class C
- Year Built 2015
- Price 1,916,666
- Price Per SF 1,296
- Cap Rate 6
- NOI 115,000
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.03
- Land Acres 1.21 AC
Amenities
- Signage
Property Taxes
| Parcel Number | 11-06-24-3-004-034.0000 11-06-24-3-004-033.0010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $167,040 |
| Date Created: | 2024-07-16 04:09:19 | Last Updated: | 2024-07-16 04:09:19 |
| Address: | 2407 N Broad St , Selma, Alabama, 36701 | ||