64107 Highway 41 | Pearl River, LA 70452
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64107 Highway 41
Pearl River, LA 70452
Sonic Drive-In · Retail Property For Sale
Investment Highlights
- Strong Historical Unit Sales and Operating History
- Recent Improvements: Tenant recently acquired these locations and has improved sales significantly at this location since putting money into the site.
- Community and Family Focused Operator: They employ grassroots marketing campaigns to build relationships with the surrounding community.
- The lease is backed by Panhandle Restaurant Group’s corporate entity, which has 30+ units currently operational.
- Sonic Drive-In is an established quick service restaurant concept operating since the 1950s. As of 2020, 3,491 Sonic restaurants are located in 46 U.S
Executive Summary
CBRE is pleased to present Sonic Drive-In, a rare opportunity for an investor to purchase a truly iconic brand with a proven track record of success in the submarket of Pearl River, LA. This NNN Lease is backed by Panhandle Restaurant Group’s corporate entity, which has 30+ units currently operational and 5-10 locations targeted to open in the next 12-18 months. In addition, the deal is backed by Personal Guarantee's by the operators with a combined net worth of over $20MM. The property location is densely populated and has several employers within walking distance, which allows for walk up lunch rush traffic and a built-in customer base to drive consistent sales numbers. Finally, this market has been identified by the operator as similar to their other successful markets, which is why they employ grassroots marketing campaigns to build relationships with the surrounding community making this location a hot-spot for family gatherings.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,703 SF
Year Built
2000
Price
$2,124,787 CAD
Price Per SF
$1,248 CAD
Cap Rate
6.50%
NOI
$138,108 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.89 AC
Opportunity Zone
Yes
Zoning
C-(NEC) - Commercial
PROPERTY TAXES
| Parcel Number | 80190 | Improvements Assessment | $43,044 CAD |
| Land Assessment | $27,931 CAD | Total Assessment | $70,975 CAD |
PROPERTY TAXES
Parcel Number
80190
Land Assessment
$27,931 CAD
Improvements Assessment
$43,044 CAD
Total Assessment
$70,975 CAD
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