Sonic Tamarac West Commercial Boulevard | 8188 W Commercial Blvd
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Sonic Tamarac West Commercial Boulevard 8188 W Commercial Blvd
2,758 SF 4-Star Retail Building Lauderhill, FL 33351 $2,928,350 ($1,062/SF) 5.16% Cap Rate
Investment Highlights
- Brand New 15-Year Absolute NNN Sale Leaseback with Zero Landlord responsibilities
- Situated on West Commercial Blvd with over 47,000 Vehicles Per Day
- Oversized Parcel with over 50,000 SF - 1.6 Parking spaces per 1,000 SF
- 2014 Construction with 10 years of Operational History, 13% Projected Sales Growth Year over Year
- Multiple means of Ingress/Egress with Left Turn In
- Major Retailers in the immediate area include Chick Fil-A, 7-11, Taco bell McDonalds, Chipotle, and many more
Executive Summary
Tenant Overview
For more than 60 years, SONIC, America’s Drive-In has built a dominant position in the drive-in restaurant business. We did it by sticking to what made drive-ins so popular in the first place: made-to-order American classics, signature menu items, speedy service from friendly Carhops and heaping helpings of fun and personality. SONIC is part of the Inspire Brands family of restaurants.
Franchisee Overview
The franchisee group was established by Andrew Patrick Wendt in 2016 following the sale of his restaurant and live music venues in North Texas in 2015. The group-initiated construction on a Sonic Drive-In located at 2312 N Roosevelt Blvd in Key West, Florida, with the groundbreaking originally scheduled for October 2017. However, the project faced an eight-month delay due to the impact of Hurricane Irma, which made landfall in the Florida Keys shortly before the scheduled groundbreaking. Once recovery efforts were completed, construction resumed, and the drive-in opened to the public on September 1, 2018.
On May 10, 2019, the company successfully negotiated the acquisition of four additional locations in South Florida. This strategic move allowed for favorable development agreements with Sonic Corporate, granting exclusive development rights over a significant portion of South Florida, coupled with a unique fee structure that supports future growth in the Florida market. After experiencing rapid expansion, growing from zero to five locations within a year, the company made a strategic decision to focus on operational efficiencies and temporarily pause new openings.
For more than 60 years, SONIC, America’s Drive-In has built a dominant position in the drive-in restaurant business. We did it by sticking to what made drive-ins so popular in the first place: made-to-order American classics, signature menu items, speedy service from friendly Carhops and heaping helpings of fun and personality. SONIC is part of the Inspire Brands family of restaurants.
Franchisee Overview
The franchisee group was established by Andrew Patrick Wendt in 2016 following the sale of his restaurant and live music venues in North Texas in 2015. The group-initiated construction on a Sonic Drive-In located at 2312 N Roosevelt Blvd in Key West, Florida, with the groundbreaking originally scheduled for October 2017. However, the project faced an eight-month delay due to the impact of Hurricane Irma, which made landfall in the Florida Keys shortly before the scheduled groundbreaking. Once recovery efforts were completed, construction resumed, and the drive-in opened to the public on September 1, 2018.
On May 10, 2019, the company successfully negotiated the acquisition of four additional locations in South Florida. This strategic move allowed for favorable development agreements with Sonic Corporate, granting exclusive development rights over a significant portion of South Florida, coupled with a unique fee structure that supports future growth in the Florida market. After experiencing rapid expansion, growing from zero to five locations within a year, the company made a strategic decision to focus on operational efficiencies and temporarily pause new openings.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,758 SF
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
2014/2024
Price
$2,928,350
Price Per SF
$1,062
Cap Rate
5.16%
NOI
$151,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Land Acres
1.16 AC
Zoning
CG - General Commercial
Parking
32 Spaces (11.6 Spaces per 1,000 SF Leased)
Frontage
45 FT on Commercial Blvd
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Drive Thru
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 49-41-16-08-0290 | Improvements Assessment | $1,224,430 |
| Land Assessment | $427,380 | Total Assessment | $1,651,810 |
PROPERTY TAXES
Parcel Number
49-41-16-08-0290
Land Assessment
$427,380
Improvements Assessment
$1,224,430
Total Assessment
$1,651,810
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Sonic Tamarac West Commercial Boulevard | 8188 W Commercial Blvd
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