Sonic Drive-In Gause 1249 Gause Boulevard, Slidell, LA Cap Rate 6.25% Slidell ( Louisiana, US ) Built

$1,836,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 1,400 sq. ft.
  • Development Level: Built
  • Lot Size: 0.63 acres
  • Year Built: 1996

Description

Sonic Drive-In Gause 1249 Gause Boulevard, Slidell, LA Cap Rate 6.25%

Cap Rate: 6.25%
NOI: $114,750
Building Size: 1,400 sqft
Lot Area: 0.631 sqft
Occupancy: 100%
Lease Type: Triple Net
Year Built: 1996
Zoning: Commercial
Tenancy: Single
Gross Leaseable Area: 1400
Lease Expire Year: December 31, 2040 (Est.)

Price: $1,836,000 USD

DESCRIPTION
Sonic has a Brand New 20-Year Absolute NNN Lease with Attractive 7.50% Rental Escalations every 5 Years. The tenant, Panhandle Restaurant Group, LLC (PRG) Operates a Total of 6 Sonic Drive-In Restaurants, 1 Rib Crib Restaurant, and a Number of Other Restaurants Through Different Partnerships - Lease is Personally Guaranteed by the Operator (Net Worth In Excess of $8,600,000)! It has been Successfully Open & Operating Since 1996, with a 9.23% Rent to Sales Ratio (2020 if Annualized)!

This location has Great Drive-By Visibility on Gause Blvd (aka US Hwy 190), where Traffic Counts Exceed 18,190 CPD - One Mile West of I-10 with 79,501 CPD! Nearby retailers include: Walmart Supercenter, Sam’s Club, Kohl’s, Lowe’s Home Improvement, Home Depot, At Home, Hobby Lobby, Dick’s Sporting Goods, Dillards, Tuesday Morning, Dollar Tree, Dollar General, Family Dollar, T.J. Maxx, Ross Dress for Less, Five Below, Michaels, JOANN Fabrics, PetSmart, Petco, Books-A-Million, Winn-Dixie, Rouses Market, Harbor Freight Tools, Ace Hardware, Goodwill, Tractor Supply, Rent-A-Center and Planet Fitness; 27 miles from The University of New Orleans (a public research university offering various undergraduate, graduate, online, certificate & pre-professional programs with total enrollment of 8,231); Adjacent to Slidell Medical Center (a 223-bed acute care hospital offering advanced technology & innovative treatments including a Level III neonatal ICU); 5 miles from Orchsner Medical Center-Northshore (a full-service, 165-bed acute care hospital that includes a 24-hour emergency room & 24-7 pediatric hospital care).

HIGHLIGHTS
• Brand New 20-Year Absolute NNN Lease with Attractive 7.50% Rental Escalations every 5 Years!
• Panhandle Restaurant Group, LLC (PRG) Operates a Total of 6 Sonic Drive-In Restaurants, 1 Rib Crib Restaurant, and a Number of Other Restaurants Through Different
Partnerships - Lease is Personally Guaranteed by the Operator (Net Worth In Excess of $8,600,000)!
• Successfully Open & Operating Since 1996 with a 9.23% Rent to Sales Ratio (2020 if Annualized)!
• Great Drive-By Visibility on Gause Blvd (aka US Hwy 190) where Traffic Counts Exceed 18,190 CPD - One Mile West of I-10 with 79,501 CPD!
• 2020 DEMOGRAPHICS: Total Population (5-MI): 86,653 | Average Household Income (1-MI): $85,706

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

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Information is deemed to be correct but not guaranteed.