Sonic - Net Lease Property for Sale
Norton, KS
Key Investment Metrics
Price
$1,415,417
Cap Rate
6.0%
Net Operating Income
$84,925
Building Size
2700 SF
Lot Size
2,700 SF
Land Area
0.76 Acres
Remaining Term
20 years
Lease Expiration
06/30/2046
Lease Term
20 years
Lease Commencement
07/01/2026
Lease Type
Absolute NNN
Tenant Credit
Franchisee
Year Built
1994
Occupancy
100%
Tenancy
Single
Rent Increases
10% every 5 years
About This Sonic Net Lease Property
This Sonic NNN (triple net lease) property is located in Norton, KS and represents an excellent investment opportunity for commercial real estate investors. The property features 2700 square feet of building space and was built in 1994.
With a cap rate of 6.0%, this Sonic net lease property offers stable income potential. The asking price is $1,415,417, making it an attractive option for 1031 exchange investors seeking quality Sonic commercial properties.
Why Invest in Sonic NNN Properties?
- Stable Income: Sonic net lease properties provide predictable cash flow with minimal landlord responsibilities.
- Strong Tenant: Sonic is a nationally recognized brand with proven operational success.
- 1031 Exchange Eligible: This property qualifies for 1031 tax-deferred exchanges, allowing investors to defer capital gains taxes.
- Triple Net Lease: The tenant is responsible for property taxes, insurance, and maintenance, reducing landlord obligations.
Norton, KS Market Overview
Located in Norton, KS, this Sonic property benefits from strong local demographics and market fundamentals. The Norton area offers excellent visibility and accessibility, making it an ideal location for Sonic operations and a solid investment for net lease property buyers.