October 18, 2024 – Michael Talbert and Dan Bernardini of Horvath & Tremblay have successfully completed the sale of a Sonic in Key West, Florida. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,575,000.
Sonic is located at 2312 North Roosevelt Boulevard in Key West, Florida. Constructed in 2018, Sonic occupies a 1,690 square foot single tenant building on a 0.72-acre parcel of land. Sonic has over 13 years remaining on their original 20-year lease with four (4), 5-year renewal options. The lease features attractive 10% rental increases every 5 years throughout the base term and option periods. Sonic is well located in Key West, a vibrant tourist destination known for its eclectic culture, historic significance, and stunning natural beauty. The Property is strategically situated on North Roosevelt Boulevard, which is the primary commercial corridor serving Key West with traffic counts in excess of 42,300 vehicles per day. Sonic benefits from excellent frontage and visibility, with prominent signage and convenient access points. North Roosevelt Boulevard features an extensive array of national retailers and attractions and leads directly to downtown Key West. The Property is less than a mile from Key West International Airport and Key West High School and is a short drive to Duval Street and the city’s lively downtown.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.