29622 7 Mile Rd - Fast Food FOR SALE


Livonia, MI 48152
$1,766,308 USD
714-336-4737
29622 7 Mile Rd, Livonia, MI for Sale
$1,766,308 USD
Fast Food - FOR SALE
1/2
null | 6.5% Cap Rate

29622 7 Mile Rd
Livonia, MI 48152


HIGHLIGHTS

  • Franchisee Backed by Large Operator | The property is leased to SOAR Restaurants II, LLC, an experienced Sonic franchisee operating over 83 units
  • Established Income Stream with Strong Rent Growth | The lease features scheduled 7.50% rent increases every five years
  • Absolute NNN Lease Structure|The absolute triple net lease eliminates all landlord responsibilities, providing a fully passive investment opportunity

OVERVIEW

Surmount is pleased to present the exclusive listing for a Sonic located at 29622 7 Mile Rd, Livonia, MI 48152. The site features a new build to suit, malleable 2,600 SF brick building. The Sonic is subject to an absolute NNN lease which expires 12/31/37. The current annual rent is $114,810 and has scheduled increases of 7.50% every 5 years. Lease features a rare percentage rent provision providing the potential for additional income and hedge against inflation.

FOR SALE DETAILS

PRICE

$1,766,308 USD

PRICE/SF

$747 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sonic

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

0.75 AC

LAND SF

32,670 SF

ZONING

-

APN/PARCEL ID

46-008-99-0010-007

ASK ABOUT THIS PROPERTY

Cade KearnNNN Pro GroupMore Info
714-336-4737

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Cade KearnNNN Pro GroupMore Info
714-336-4737

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.