Anniston, AL (Greenbrier Dear Rd) - 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 Anniston, 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 Greenbrier Dear Road and Coleman Road which combine to average over 20,200 vehicles passing by daily. Greenbrier Dear Road is a major thoroughfare serving the city of Anniston. The Sonic is in close proximity to a Greenbrier Station, a Winn-Dixie anchored center that features other national/credit tenants including McDonald’s, UPS, and Regions Bank. The asset is located approximately 2 miles from Quintard Mall, which features national/credit tenants such as Dillard’s, JCPenney, Chick-fil-A, CVS, American Eagle, and many others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Lowe’s, Walgreens, Burger King, Dollar General, AutoZone, and more, further increasing consumer traffic to the site. The Sonic is located less than a mile from Gadsen State Community College (4,300+ students). The immediate trade area is supported by a population of over 41,800 residents and 28,400 employees with an average household income within 1 mile of $93,787.