- Lease personally guaranteed by a highly successful multi state, multi unit Sonic franchisee with decades of experience within the brand as well as the South Texas entity with multiple units (Information on Franchisee Here)
- New, 20-Year lease with 2 (5-year) option periods to extend
- The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period
Investment Offering
Edinburg, TX - Sonic
2563 S. Raul Longoria Rd | Edinburg, TX 78542
$2,944,000
Price6.15%
Cap Rate$181,044
NOI1,578
± SF Offering GLADescription
Location
- The subject property is located in close proximity to the University of Texas Rio Grande Valley’s stadium, which is designed to seat over 9,700
- Approximately two miles from the Shoppes at Rio Grande Valley with major tenants including Academy, JCPenney, Ross, Petco, Ulta, Texas Roadhouse, Starbucks, McDonald’s, Panera Bread, among many others
- Located in close proximity to Edinburg High School which has over 2,400 enrolled students
- Directly across from an approved $46 million, mixed-use development that will include 50,000 SF of commercial space and 192 apartment units
- Strong tenant synergy promotes crossover shopping to the subject property
Documents & Links
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Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215