Northmarq investment sales broker Matt Lipson arranged the $1.25 million sale-leaseback of a Sonic Drive-In, a 1,127 sq. ft. single-tenant retail property. The building sits on 0.33 acres of land and is located at 228 West Maple Street in Columbus, Kansas. The property is leased to a 31-unit franchisee at the time of contract signing. Northmarq represented the Missouri-based seller and Hamman Real Estate represented the California-based individual investor in the sale.
“There couldn’t be a better location to place a Sonic. The franchisee understands the market and is able to fully maximize the potential of the site. The buyer felt comfortable with the franchisees track record and award-winning success, and both seller and buyer we’re satisfied with price and terms,” said Lipson. “This is a very solid deal for both sides and will ensure the buyer a dependable rent check for now and the future.”
The freestanding restaurant is situated in central Columbus with a population of 3,856 within five miles. In addition to easy access to US Highway 160, the property is near Coffeyville Community College, with an enrollment of 1,772 students and Columbus High School. Surrounding retailers include Dollar General, True Value Hardware, Subway, Napa Auto Parts, and Verizon Wireless.