Alexandria, 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 Alexandria, 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 U.S. Highway 431/State Highway 1 and Gladden Ln. E with a combined 21,200 vehicles passing by daily. U.S. Highway 431/State Highway 1, is a major retail thoroughfare serving the city of Alexandria. The asset is located less than a 15-minute drive 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 property is in the center of a primary retail corridor with other nearby national/credit tenants including Dollar General, Subway, Waffle House, DG Market, and more, further increasing consumer traffic to the site. Located within a 15-minute drive 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.