3218 Rainbow Dr - Fast Food FOR SALE


Rainbow City, AL 35906
$2,417,000 USD
929-229-2614
3218 Rainbow Dr, Rainbow City, AL for Sale
$2,417,000 USD
Fast Food - FOR SALE
1/9
null | 6% Cap Rate

3218 Rainbow Dr
Rainbow City, AL 35906


HIGHLIGHTS

  • 20-Year Sale-Leaseback | Experienced Operator (191+ Units) | Options to Extend | Established Location
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Rainbow Plaza Shopping Center | Dense Retail Corridor
  • Strong Demographics In The Immediate 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 Rainbow City, 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

$2,417,000 USD

PRICE/SF

$929 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sonic

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.07 AC

LAND SF

46,609 SF

ZONING

HC

APN/PARCEL ID

15-09-29-4-000-125.000

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.