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1956 Harner Dr
Xenia, OH 45385

Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Property Subtype
Fast Food
Building Size
1,815 SF
Year Built
2008
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
1.20 AC

About 1956 Harner Dr , Xenia, OH 45385

The Dumes Falk Group of Marcus & Millichap is please to bring to market a Sonic Drive-In (Franchise Ground Lease) in Xenia, OH – located 18-miles from Dayton, Ohio. The subject property is comprised of a 1,815-square foot freestanding building situated on approximately 1.20 acres with great signage and multiple points of ingress/egress. This Sonic Drive-In benefits from the added consumer traffic driven by the Walmart Supercenter and Lowe’s located directly behind the property. The subject property sits just off State Route-35 which sees 18,300 vehicles per day. State Route-35 acts as the main highway connecting Xenia and Dayton. This Sonic Drive-In (Franchise Ground Lease) currently has five-years remaining on an original fifteen-year lease and three, five-years options. The subject property has a current NOI of $49,500 with ten percent increases in the first two options and five percent increase in the third option. Sonic Drive-In has occupied the parcel since the building was built in 2008. This Sonic Drive-Inn is under a triple-net franchise ground lease with zero landlord responsibility. The tenant is responsible for CAM, Insurance, Utilities, and Real Estate Taxes. The population has seen a positive growth of more than 15 percent since 2000 with more than 46,300 residents and average household incomes over $82,400 within five-miles. There are more than 46,100 employees in the same proximity which makes up the daytime population. The total households within a five-mile radius is nearly 17,900. Located on the other side of State Route-35, approximately half a mile away from the subject property is Xenia Community Schools consisting of Xenia Preschool, Arrowood Elementary, Cox Elementary, McKinley Elementary, Shawnee Elementary, Tecumseh Elementary, Warner Middle School, Xenia High School, Xenia Virtual Academy, with a total combined enrollment of 4,533 students. The subject property is surrounded by multiple traffic drivers such as: Kroger, Rural King, Dollar Tree, Verizon Wireless, Bob Evans, Applebee’s, and PNC Bank. This offering provides an incoming investor the ability to acquire a stable, passive income stream guaranteed by a strong operator with a national brand that is growing.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
M40-0001-0023-0-0231-00
Land Assessment
$126,240
Improvements Assessment
$184,838
Total Assessment
$311,078
  • Listing ID: 11596777

  • Date on Market: 2018-02-14

  • Last Updated:

  • Address: 1956 Harner Dr, Xenia, OH 45385

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