555 S Babcock St - Fast Food FOR SALE


Melbourne, FL 32901
$2,327,272 USD
503-307-0382
555 S Babcock St, Melbourne, FL for Sale
$2,327,272 USD
Fast Food - FOR SALE
1/7
null | 5.5% Cap Rate

555 S Babcock St
Melbourne, FL 32901


HIGHLIGHTS

  • Top-In-Class Operator | Franchisee Guaranty
  • Absolute NNN Lease | No Landlord Responsibly
  • 10% Increases Every 5 Years
  • Above Average Sales Performance | Top Location in 15 Mile Radius
  • High Accessibility and Traffic Counts
  • Income Tax-Free State

OVERVIEW

Northmarq National Restaurant Group is pleased to offer for sale this exclusive single-tenant Sonic Drive-In property located in Melbourne, Florida. This investment offers a fee simple, Absolute NNN sale-leaseback opportunity with a new 20 year lease commencing at the close of escrow, and 4 x 5 year options thereafter. This asset features increases of 10% every 5 years throughout the term and options, providing significant passive income, creating a hedge against inflation. The Property is operated by a top franchisee who is a top Sonic and QSR operator that consistently ranked in the top 35 highest revenue franchisees in the Franchise Times 200. They consistently rank in the top 15 of the Multi- Unit Franchisee Magazine Mega 99, and operate as a leading multi-unit franchise operator across restaurants, retail, and hotels. With a presence in over 30 states, they manage over 450 locations, over 300 of which are restaurant locations.

FOR SALE DETAILS

PRICE

$2,327,272 USD

PRICE/SF

$1,447 USD /SF

CAP RATE

5.5%

% 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

2001

SPRINKLERS

-

PARKING SPACES

38

LAND DETAILS

LAND ACRES

1.33 AC

LAND SF

57,935 SF

ZONING

CP

APN/PARCEL ID

27-37-34-00-00284.0-0000.00

ASK ABOUT THIS PROPERTY

Matt LipsonNorthmarqMore Info
503-307-0382

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Matt LipsonNorthmarqMore Info
503-307-0382

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