3221 Palmer Hwy - Fast Food FOR SALE


Texas City, TX 77590
$2,909,000 USD
502-442-7079
3221 Palmer Hwy, Texas City, TX for Sale
$2,909,000 USD
Fast Food - FOR SALE
1/5
null | 5.5% Cap Rate

3221 Palmer Hwy
Texas City, TX 77590


HIGHLIGHTS

  • 13+ Years Remaining | Scheduled Rental Increases | Strong Operator (53 units) | Established Brand
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Palmer Plaza | Texas City Bay | Highly Trafficked Corridor
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

• The tenant currently has 13+ years remaining on their initial lease with 4 (5-year) options to extend, demonstrating their commitment to the site • The lease features 10% rental increases every 5 years during the initial lease term and at the beginning of each option, growing NOI and hedging inflation • Lease is guaranteed by the Sonic entity. Parent company here is Emerge!Restaurant Group with nearly 200 restaurants across all their brands

FOR SALE DETAILS

PRICE

$2,909,000 USD

PRICE/SF

$1,633 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sonic | Absolute NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

33

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

E

APN/PARCEL ID

7053-0003-0006-000

ASK ABOUT THIS PROPERTY

Sarah ShanksSRS National Net LeaseMore Info
502-442-7079

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Sarah ShanksSRS National Net LeaseMore Info
502-442-7079

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