Current Use by Public Records
- Retail properties & Spaces
Property Details for 707 Hwy
- Year built
- 2006
- Lot size
- 0.56 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 1,522 square foot Sonic Drive-In restaurant located at 707 North Highway 36 in Brazoria, Texas, 77422. The property sits on a 0.56-acre lot and boasts a strong 6.00% cap rate with a Net Operating Income (NOI) of $117,680. The absolute NNN lease, held by a franchisee, has 14 years remaining, commencing December 2, 2021, and expiring December 30, 2036. Rent increases are built in, with a 10% bump every five years. The property benefits from a prime location on a major north-south artery with traffic exceeding 13,000 vehicles per day, surrounded by complementary businesses including Buc-ee's, USPS, Domino's Pizza, Subway, O'Reilly Auto Parts, McCoy's, Dollar General, and Stewart's Food Store. The strong sales performance of this Sonic location, operated by a multi-unit operator with 168 units across four brands, contributes to a healthy rent-to-sales ratio. The property was built in 2006 and enjoys 100% occupancy. The asking price is $1,961,333, translating to a price per square foot of $1,288.66. Brazoria's favorable demographics, with a population of 10,703 and an average household income of $95,035 within a 5-mile radius, further enhance the investment's appeal. The location's proximity to Houston, Lake Jackson, and Galveston adds to its strategic value. This is a compelling opportunity for investors seeking a stable, high-performing asset in a thriving Texas market. The lease includes three 5-year renewal options.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brazoria
- County
- Brazoria
- State
- Texas
- Longitude
- -95.5718
- Latitude
- 29.054
