Sonic - Avondale, AZ

Absolute Triple Net (NNN) Lease: The property has an absolute NNN lease, eliminating all landlord responsibilities, including taxes, insurance, and maintenance. This structure provides investors with a truly passive, management-free income stream.
Established Franchise Operator: The tenant, SW Karma, LLC, is a proven Sonic Drive-In franchisee operating 28+ locations across the region. The Merritt Group operates 150+ Sonic’s across nine states in separate entities, SW Karma, LLC being one, but has been a Sonic operator since 1973.
Strong Operating History: The site has functioned continuously as a Sonic Drive-In for 48+ years, underscoring the location’s long-term viability and sustained consumer demand in this trade area.
Robust Demographic Growth: The surrounding area has a population of ±209,886 within a ±5-mile radius. The ±3-mile radius has experienced a historical population growth rate of 4.45% (2020–2024) and is projected to grow an additional 2.98% over the next five years, reflecting strong residential expansion and increasing demand drivers.
Strategic Location Near Phoenix: Positioned in the Phoenix metropolitan area, the property leverages access to one of the fastest-growing major markets in the United States, supporting both tenant performance and long-term real estate value appreciation.

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