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Sonic
5020 Fairmont Parkway, Pasadena, TX, 77505, USA
Sands Investment Group is Pleased to Present the Sonic Absolute NNN For Sale Located in Pasadena, Texas. This Deal Includes Over 15 Years Remaining on an Absolute Triple Net (NNN) Lease, Providing For a Secured Investment
- Brand New 15 Year Absolute Triple Net (NNN) Lease
- Strong Sales Performance With Healthy Rent-to-Sales Ratio
- Emerge Inc. is a Growing Operator With 168-Units Across Four Brands
- Essential Use Tenant With Drive Thru; Pandemic and Recession Resistant
- Strong Demographics With a Dense Population of 91,550 Making an Average Household Income of $73,637 Within a 3-Mile Radius
- High Traffic Location With Over 44,000 VPD
- Next to St. Luke’s Hospital With 61 Beds and Over $455,539,870 in Patient Revenue
- Income Tax-Free State (Texas)
- Pasadena, TX Has Been Noted as One of the Most Under the Radar Suburbs in America
- Adjacent to a Walmart Supercenter, Target, Academy, Office Depot, Lowe’s Home Improvement – Driving Traffic to the Retail Area as Destination Retailers
- Nearby Tenants Include: Starbucks, VCA Animal Medical Center of Pasadena, Waffle House, BreWingZ Restaurant & Bar, Chase Bank and Raising Cane’s
In Cooperation With Sands Investment Group Austin, LLC Lic. #9004706 BoR: Max Freedman Lic. # 644481
Sonic
5020 Fairmont Parkway, Pasadena, TX, 77505, USA
SONIC, America’s Drive-In, is the nation’s largest chain of drive-in restaurants Founded in 1953 in Oklahoma City, Oklahoma, SONIC has delighted guests with signature menu items, more than 1.3 million drink combinations, friendly service by iconic Carhops. SONIC is part of the Inspire Brands family of restaurants and Inspire Brands is the Subsidiary company of Roark Capital Group. As the largest national chain of drive-in restaurants the iconic SONIC style is hard to duplicate, but SONIC’s distinct brand differentiation goes far beyond the drive-in format. SONIC’s one-of-a-kind menu offers a variety of options unavailable from other brands, including Real Ice Cream desserts, TOASTER® sandwiches, Molten Cake Sundaes, breakfast all day, tasty Tots, premium hot dogs and more than 1 million unique drink combinations. SONIC is now among the top five burger or sandwich advertisers in most major markets with memorable and recognizable advertising starring SONIC’s beloved “Two Guys.”
Sonic is the nation’s largest and most beloved drive-in chain, serving hot, fresh and made-to-order food for more than 60 years. The company is rapidly expanding and has available territory and ideal locations in all 50 states. Sonic is more than an iconic brand; they are a solid franchise investment focused on the future and backed by visionary leadership, robust national advertising power and operational excellence. Sonic’s diverse menu gives the chain the ability to produce strong results at all times of the day, avoiding the common drop-offs most QSR restaurants encounter in the afternoon or evenings. They have an innovative menu. Sonic’s ice cream and slush drinks make up more than 40 percent of their sales . Sonic maximizes profitability by perfecting multiple day parts. Whether clients stop by during breakfast, lunch, afternoon, dinner or evening, there is a menu product calling their name.
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Price
$1,772,727
Cap Rate
5.50%
PREMISES
1,144 SF
RENEWAL OPTIONS
4 x 5 Years
Lease Expiration
15 Years Following Close of Escrow
Lease Type
Absolute NNN
RENTAL INCREASES
10% Every 5 Years
BROKERS
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Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree that all initial correspondence and agreements pertaining to the opportunities and subsequent purchase shall be submitted through Agent. Prospective Buyer shall not contact the Owner directly unless given written permission by Agent or act either directly, indirectly, through any third parties including affiliates, other clients or other brokers to circumvent the purpose of this Agreement.
The term of this Agreement is for one (1) year from the date below, which shall be automatically extended through any ongoing negotiations, escrow periods or closing of any purchase and sales transaction(s) for the opportunity entered into by Prospective Buyer or its affiliates during the term hereof.
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