Sonic - White House

417 Highway 76 White House , TN 37188-9202

Sonic - White House - 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 White House, 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 within White House, TN located along Highway 76 that sees over 17,900 VPD. The surrounding area is the major retail corridor of White House with retailers Kroger, Walmart, Walgreens and other various retailers.

White House is located 20 miles north of Nashville, TN, and is a growing, affluent suburb that is attracting many families looking to relocate in the Nashville MSA.

This Sonic Asset benefits from being the only Sonic location in White House, TN and serving a population of over 16,000 in a 3-mile radius.


General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 417 Highway 76, White House, TN 37188-9202
Land In Acres 0.89
Building Size 1,350  ft2
Financial
Price $1,339,800
Cap Rate 6.00%
Current NOI $80,388.00
Lease
Tenant's Name Sonic Restaurants, Incorporated
Guarantor SONIC Corporation
Lease Type NNN
Annual Rent $80,388.00
Lease Expiration Date 10/31/2026
Remaining Term 7.4Yrs

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