Clinton, SC - 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 (190+ unit operator) Sonic investment property located in Clinton, South Carolina. 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 South Broad Street and State Highway 72 with a combined 18,900 vehicles passing by daily. South Broad Street, is a major retail thoroughfare serving the city of Clinton. The Sonic is an outparcel to a Food Lion anchored center that also features national/credit tenants including Burger King and CVS pads. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a McDonald’s, Ingles Market, KFC, Bojangles, Dollar Tree, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Presbyterian College, with over 1,000 full-time students. The 5-mile trade area is supported by a population of over 15,400 and over 8,500 employees with an average household income of $73,245.