March 23, 2022 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of a Sonic in Gaffney, South Carolina. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $1,340,109.
Sonic is located at 1529 W Floyd Baker Boulevard in Gaffney, South Carolina. The stand-alone building consists of 1,493 square feet on 0.60-acres of land. Upon close of escrow, Sonic signed a new 20-year Absolute NNN Lease with four (4), 5-Year renewal options. The lease features attractive 1.5% annual rent increases throughout the current term and option periods. The property is an outparcel to a Walmart Supercenter and is surrounded by national retailers. Sonic is well-positioned along West Floyd Baker Boulevard, the area’s primary commercial corridor, which experiences an average daily traffic count of 23,100 vehicles. Interstate 85 is approximately 0.5 miles from the property and brings an additional 54,900 vehicles per day to the trade area. Gaffney is home to a number of educational institutions, including Limestone University, John E Ewing Middle School, Gaffney Middle School, Limestone-Central Elementary School, and Spartanburg Community College. These facilities have a combined enrollment of just over 13,000 students.
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.