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Changes
Added some prosa for better understanding
The Waytronic WT81B003-0202 18m (see [http://www.waytronic.com/ProductsStd_301.html]) should be able to provide distance measurements at least every 250ms up to 18m with a tolerance of +-10cm. It can be set in various operation modes, one of those communicates through a standard serial protocol ([https://en.wikipedia.org/wiki/8-N-1 9600/8-N-1]).
Using an Arduino board equipped with an uart port it's possible to test the sonar performance.
The sketch can be found at https://mega.nz/#F!Bo8jHabQ!kwxQR5jFZorFaOLdQKsTdw)
= Datasheet =