Anniston, AL (Glade 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 hard corner intersection of State Highway 21/McClellan Blvd and Weaver Road which combine to average over 29,600 vehicles passing by daily. State Highway 21 is the major retail thoroughfare serving the city of Anniston. The Sonic is adjacent to a Walmart Supercenter and Tractor Supply Co anchored center that also features national/credit tenants including McDonald’s, Taco Bell, Dollar Tree, NAPA Auto Parts, Subway, Cato Fashions and more. The asset is in close proximity to Fort McClellan, which houses approximately 10,000 military personnel and 1,500 civilian employees. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Lowe’s, ALDI, Harbor Freight, Ollie’s Bargain Outlet, O’Reilly Auto Parts, Advance Auto Parts, Scooter’s Coffee, Zaxby’s and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 32,400 residents and 13,600 employees with an average household income of $67,120.