Sonic

QSRInspire Brands (private)

Avg cap rate (T12): Being compiled
S&P: B+
Moody's: Being compiled
U.S. units: 3,400+
Typical lease: Franchisee; 15–20 yr abs. NNN

Ratings and unit counts come from public sources (agency ratings, company filings, trade press) as of Oct 14, 2026, believed reliable but not independently verified. A rating may belong to a parent company rather than the entity that signs or guarantees the lease. Typical lease terms are general market norms, not a valuation of any property. Do your own due diligence before any purchase, sale or lease. The Sonic logo is a trademark of its owner, shown only to identify the tenant; no affiliation or endorsement is implied. Full disclosures

Recent headlines

May 8, 2026
Ownership / M&A
Atlanta-based owner of Arby's, Dunkin' files for IPOThe Atlanta Journal-Constitution
Feb 24, 2026
Ownership / M&A
Sonic sells 78 restaurants to KBPRestaurant Dive
Nov 24, 2025
Closing units
Multiple Sonic Drive-ins close, others sit vacant in San AntonioMySA

Headlines are third-party reporting and link to the original publisher. Including a headline doesn't mean I or Marcus & Millichap were involved in any transaction mentioned.

Own a Sonic? Get a broker opinion of value built on current QSR trades.

Request a BOV