Attalla, AL - Sonic

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, guaranteed by Soar QSR (191+ unit operator) Sonic investment property located in Attalla, Alabama. Soar QSR is the 3rd largest Sonic franchisee and will sign a brand new 20-year lease at the close of escrow (sale-leaseback) with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Sonic is located near the signalized, hard corner intersection of State Highway 77 and 3rd St. NW with a combined 42,600 vehicles passing by daily. State Highway 77, is a major retail thoroughfare serving the city of Attalla. The asset is located less than 6-miles from Coosa Town Center, a 300,000 sf Walmart Supercenter anchored shopping center with many national/credit tenants including T.J. Maxx, Bealls, PetCo, Five Below, Hobby Lobby, and many more. The asset is located less than 2-miles from Northeast Alabama Regional Aiport, which sees over 65 flights per day. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Dollar General, Subway, Waffle House, Taco Bell, and more, further increasing consumer traffic to the site. Located 6-miles from Gadsden Regional Medical Center, the largest Medical Center serving the city of Gadsden, with 346-beds, offering a wide range of inpatient and outpatient services. The 5-mile trade area is supported by a population of over 18,847 and over 2,364 employees. Residents within a 1-mile trade area have an average household income of $89,572.