311 SW 3rd St - Restaurant FOR SALE


Attalla, AL 35954
$1,441,000 USD
929-229-2614
311 SW 3rd St, Attalla, AL for Sale
$1,441,000 USD
Restaurant - FOR SALE
1/6
null | 5.9% Cap Rate

311 SW 3rd St
Attalla, AL 35954


HIGHLIGHTS

  • 20-Year Sale-Leaseback | Experienced Operator (191+ Units) | Options to Extend
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Close Proximity To Coosa Town Center | Primary Retail Corridor
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, guaranteed by Soar QSR (191+ unit operator) Sonic investment property located in Attalla, Alabama. Soar QSR is the 3rd largest Sonic franchisee and will sign a brand new 20-year lease at the close of escrow (sale-leaseback) with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$1,441,000 USD

PRICE/SF

$150 USD /SF

CAP RATE

5.9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sonic

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

B-2 Central Business

APN/PARCEL ID

16-02-03-1-000-298.008

ASK ABOUT THIS PROPERTY

Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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