Description

The Northmarq National Restaurant Group presents a single-tenant Sonic Drive-In located at 414 N Highway 19 in Palatka, Florida. The property is secured by an absolute NNN lease with more than 15 years remaining, along with 10% rent increases every five years and during renewal options. The site benefits from strong visibility and convenient access along Highway 19, which carries approximately 20,300 vehicles per day and serves as Palatka’s main retail corridor. It is also positioned near the signalized intersection of Highway 19 and Reid Street, which sees around 18,310 vehicles daily. The area is supported by several demand drivers, including Georgia Pacific’s expanding manufacturing facility located three miles away, a student population of more than 8,600 from nearby high schools and colleges, and a planned $200 million auto racing complex currently in the predevelopment phase. In addition, the property is shadow anchored by prominent national retailers, generating strong retail synergy that benefits quick-service restaurants. With its secure absolute NNN lease structure, long remaining lease term, and strong surrounding traffic generators, the investment offers a stable, passive income opportunity with long-term value potential.