Sonic for Sale in Norton, KS
Norton, KS
Key Investment Metrics
Price
$1,415,417
Cap Rate
6.0%
Net Operating Income
$84,925
Building Size
2700 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
Property overview
Sonic in Norton
Review the reported property and lease details, then request the supporting documents for your acquisition review.
- Building area
- 2,700 SF
- Land area
- 0.76 acres
- Year built
- 1994
- Lease type
- Absolute NNN
- Lease expiration
- 06/30/2046
Confirm current availability, pricing and lease terms through the inquiry form before relying on this listing.
Before you make an offer
Four things to verify
- 1
Lease and guaranty
Request the executed lease and amendments. Identify the legal tenant, guarantor and landlord obligations.
- 2
Income and expenses
Obtain the rent roll and operating statement supporting the advertised NOI and cap rate.
- 3
Property condition
Review survey, title, condition and environmental information relevant to this property.
- 4
Exchange requirements
For a 1031 exchange, confirm eligibility and deadlines with your qualified intermediary and tax adviser.