Sonic - Centerville

729 Highway 100 Centerville , TN 37033-1200

Sonic - Centerville - Retail for sale

Download Offering Memorandum

Overview


JLL is pleased to offer for sale the fee-simple interest in a single-tenant Sonic (the “Property” or “Asset”) located in Centerville, TN. The Asset’s lease is guaranteed by Sonic Corporation, which was recently acquired by Inspire Brands.

Investment Highlights



The Property possesses ideal net lease fundamentals, highlighted by an Absolute NNN structure with no landlord responsibilities and over 7 years of primary term remaining.

The lease is guaranteed by Sonic Corporation, the nation’s largest drive-in restaurant serving approximately 3 million customers every day. Today, Sonic has more than 3,600 locations in 44+ states.

Sonic Corporation and Inspire Brands recently announced a merger, where Sonic Corporation was acquired for $2.3 billion dollars. Inspire Brands is a private company backed by Roark Capital Group.

The Asset is strategically located along Highway 100 (17,800 VPD) within a Dollar Tree anchored shopping center and adjacent to a Quality Inn® by Choice Hotels. In close proximity is a Save-A-Lot, the regions only major retailer.

Centerville is the county seat and only incorporated city or town in Hickman County. Centerville is also apart of the Nashville metropolitan area and defined as the Nashville-Davidson-Murfreesboro-Franklin, TN metropolitan statistical area.

This Sonic Asset benefits from limited market competition in the area with only a few other fast-food restaurants including a Subway and a McDonalds.


General
Property Type Retail
Property Subtype Single Tenant / Standalone
Tenure Type Sale / Purchase
Property Address 729 Highway 100, Centerville, TN 37033-1200
Land In Acres 0.57
Building Size 1,350  ft2
Financial
Price $1,178,100
Cap Rate 6.00%
Current NOI $70,686.00
Lease
Tenant's Name Sonic Restaurants, Incorporated
Guarantor SONIC Corporation
Lease Type NNN
Annual Rent $70,686.00
Lease Expiration Date 10/31/2026
Remaining Term 7.4Yrs

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