Sonic Drive-In

Average Sale and Lease Details

Price Range 12mo avg: $1.10M – $1.34M
$/sf 12mo avg: $812
CAP Rate 12mo avg: 6.13%
NOI average: $72,700
Lease Terms: 20yrs
Typical Lease Type: NNN
Building Size avg: 1,500 SF
Lot Size avg: 1+/- acres

About Sonic Drive-In

Founded in 1953 in Shawnee, Oklahoma, Sonic today franchises and operates the largest chain of drive-in restaurants in the country, with almost 3,600 Sonic Drive-Ins from coast to coast. Customers also enjoy drive-thru service and patio dining at many Sonic locations.

Sonic’s signature food items include specialty drinks (such as cherry limeades and slushes), ice cream desserts, made-to-order cheeseburgers, chicken entrees ranging from sandwiches to boneless wings, a variety of hot dogs including six-inch premium beef hot dogs and footlong quarter-pound coneys, hand-made onion rings and tots. Sonic Drive-Ins also offer breakfast items that include a variety of breakfast burritos and serve the full menu all day.

FUN FACTS

In one year, SONIC:

  • sells enough tots that when placed end-to-end would circle the globe…TWICE
  • sells enough Footlong Quarter Pound Coneys to border the 48 contiguous United States
  • sells enough Cherry Limeades to fill more than 15 Olympic sized swimming pools
  • gives away enough mints to reach the top of the Empire State Building and back to the ground…5000 times.

 

NASDAQ: SONC

SONC
(%)

Annual Reports

Sonic Drive-In Financial Highlights

S&P Credit Rating: N/A+
Moody’s Credit Rating: N/A1
Annual Revenue 2017: $477.3M
Annual Revenue 2016: $606.3M
Revenue Growth: 23.8 2016
Net Income $63.66M
Units (Oct. 2017) 3,593
Average Units Volume: $132.8K

Recent Closings for Sonic Drive-In and Similar Tenants

Net Leased Sonic Drive-In Restaurants

Sonic Drive-In

Austin MSA, TX