March 9, 2022 – Kyle Danielson and Matt Nadler of Horvath & Tremblay have successfully completed the sale of a Sonic in Waldorf, Maryland. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $2,940,000.
Sonic is located at 2055 Crain Highway in Waldorf, Maryland. The stand-alone building consists of 2,346 square feet on 0.83-acres of land. Sonic has 13+ years remaining on an Absolute NNN Ground Lease with three, 5-Year renewal options. The lease features attractive 5.0% rent increases every 5 years throughout the current term and at the start of each of the option periods. The property is well-positioned at the signalized intersection of Mattawoman Drive and Crain Highway (US Highway 301), the area’s primary commercial and commuter corridor. The Property is surrounded by a variety of national and local retailers, shopping centers, and academic institutions. Major national tenants include Target, Walmart, Costco, Lowes, Home Depot, Safeway, Chick-fil-A, Chipotle, McDonald’s, Burger King, Dunkin Donuts, and many more. The property also benefits from its proximity to several large apartment complexes.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.