Available $2,330,000 - Retail - Single Tenant
Investment Offering & Highlights
- NNN lease with tenant responsible for taxes, insurance and maintenance/repair including roof and structure
- Bite size Northern California QSR investment with drive thru and strong real estate fundamentals
- Above average performance in terms of customer traffic across local state and national geography
- Drive-in restaurants booming amidst COVID-19 social distancing precautions (Flatland)
- Franchisor Inspire Brands making aggressive acquisitions in the past few years, signaling continued company-wide growth (QSR Magazine)
Property Description
Leased to Keystone Restaurant Group, LLC for over 6 years expiring December 31, 2026. The rent increases by 10% every five years with a Fair Market Value adjustment for each option period. There are four 5-year options to extend the lease. The lease is triple net with the tenant responsible for insurance, repairs and maintenance, including roof and structure. Sonic reimburses Landlord for its pro-rata share of CAM + 15% Admin Fee and taxes.
This property is being offered along with a multi-tenant PAD and three other neighboring NNN retail properties, Lowe’s, Panda Express, and AutoZone. The properties can be acquired individually or as a portfolio. Please use the following links to access the neighboring properties:
Lowe’s – $15,120,000
Panda Express – $2,870,000
AutoZone – $1,500,000
Multi-Tenant PAD – Best Offer
Please use the following link to access the full OM: https://www.crexi.com/properties/503717/california-sonic-drive-in—stockton-ca