Sonic Drive-In

194 Brownswitch Road | Slidell, Louisiana 70458

Contact Brokers

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James Garner, CCIM
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

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Jim Shiebler, CCIM, CEC

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com
(O) 813-387-4788
FL #SL3216834

Highlights

  • Long Term Lease - Over 18 Years Remaining

  • NNN Lease - No Landlord Responsibility

  • Recession & E-Commerce Proof

  • Strong Unit Sales with Healthy Rent to Sales Ratio

  • 2% Annual Increases Make the Average Cap Rate Over Base Term 6.61%

  • Population Density: 86,000+ Within 5-Mile Radius

  • Average Household Income: $74,830

  • Includes Both Stalls and Drive-Thru

Description

Marcus & Millichap 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 Slidell, Louisiana. The NNN lease is backed by Panhandle Restaurant Group's corporate entity, which has 10 units operational, 5 more units opening in the next several months, and another 10 locations targeted for construction to open in the next 12 months. This is an opportunity to invest in a guarantee that is slated to grow significantly over the next several years allowing the new owner to inherit a stronger guarantee with each new location they open. This location also includes a drive-thru along with stalls which positions it to handle significant guest volume. Finally, the subject property has been identified by the operator as a local staple, which is why they employ grassroots marketing campaigns to build relationships with the surrounding community making this location a hot-spot for family gatherings.