Sonic | New 20yr Abs NNN | 2024 Construction | 1815 Expressway 83
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Sonic | New 20yr Abs NNN | 2024 Construction 1815 Expressway 83
1,227 SF Retail Building Penitas, TX 78576 $3,723,694 CAD ($3,035 CAD/SF) 5.50% Cap Rate
Investment Highlights
- Brand New 20-Year Lease | New Construction | Scheduled Rental Increases
- Outparcel to Walmart Supercenter | Villas at Penitas Apartments |Developing Fast Food Area | Primary Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Sonic investment property located in Penitas, Texas. The tenant, Crush TX, LLC recently signed a brand new 20-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases every 5 years throughout the lease 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. The asset is scheduled to be completed and open in mid July.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,227 SF
Building Class
B
Year Built
2024
Price
$3,723,694 CAD
Price Per SF
$3,035 CAD
Cap Rate
5.50%
NOI
$204,789 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
1.05 AC
Opportunity Zone
Yes
Zoning
C-1 - Commercial
Parking
49 Spaces (39.93 Spaces per 1,000 SF Leased)
Amenities
- Restaurant
- Signage
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | M4165-02-000-0005-00 | Improvements Assessment | $0 CAD |
| Land Assessment | $414,294 CAD | Total Assessment | $414,294 CAD |
PROPERTY TAXES
Parcel Number
M4165-02-000-0005-00
Land Assessment
$414,294 CAD
Improvements Assessment
$0 CAD
Total Assessment
$414,294 CAD
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Sonic | New 20yr Abs NNN | 2024 Construction | 1815 Expressway 83
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