414 North Highway 19 - Restaurant FOR SALE
Palatka, FL 32177 |
414 North Highway 19
Palatka, FL 32177
HIGHLIGHTS
- Brand New 20-Year Absolute NNN Lease with Attractive 7.00% Rental Escalations Every 5 Years!
- Sonstore 3855 Palatka FL, LLC Operates a Total of 19 Sonic Drive-In Restaurants, 1 Rib Crib Restaurant, and a Number of Other Restaurants
- Lease is Personally Guaranteed by the Operator (Net Worth in Excess of $28,000,000)!
- Successfully Open & Operating for Decades with an Attractive 7.52% Rent to Sales Ratio & Sales Well Above the National Average!
- Open/Paying Rent Through COVID with Full Drive-Thru!
- 2021 DEMOGRAPHICS (5-MI): Total Population: 22,867 | Average Household Income: $59,135
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
-
BUILDING DETAILS
PROPERTY NAME
SONIC - PALATKA, FL
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
ADD'L SUBTYPES
Fast Food, Freestanding
TOTAL BUILDING SIZE
1403
STORIES
1
YEAR BUILT
1995
SPRINKLERS
-
PARKING SPACES
40
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
02-10-26-0000-1260-0050
