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Views: 21 DOM: 27 Updated: 04.20.24 Posted: 04.20.24 Status: Active

Summary

Price $2,190,000
Built/Renov 2024
Tenant Whataburger (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,787
Lease Start 08-23-2023
#Units 1,000
Price/SF $578.29
Expiration 08-31-2038
Tenant Type Fast Food/QSR
NOI $115,000
R. Term 14.3
Ownership Ground Lease
Rent/SF $30.37
Increases 10.0%/5/yrs
Pop 5Mi 14,058
Lot/AC 1.72
Options 3/5yrs/10%
AHHI 5Mi $80,020

Lease Highlights

  • Brand new 2024 construction
  • Whataburger has 14+ years remaining on the current ground lease term with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Whataburger is strategically located on Route 291, with access to 15,680 vehicles passing by daily. The property features excellent frontage and accessibility, granting immediate entry to Interstate 49, facilitating a direct route to Kansas City. Moreover, it occupies a prime location within a dense retail corridor, directly facing Walmart. The vicinity is surrounded with well-known national...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Whataburger
  • Guarantor:Corporate
  • Company:BDT Capital
  • # Units:1,000
  • Stock:Private

About Tenant

Whataburger is an American regional fast-food restaurant chain. The company, founded by Harmon Dobson and Paul Burton, opened its first restaurant in Corpus Christi, TX, in 1950. Known for their...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,317 11,055 14,161
2023 Total Population : 1,350 11,277 14,424
2023 Employed Civilian Pop : 749 5,411 6,991
2023 Total Businesses : 231 570 634
2023 Average Household Income : $ 76,295 $ 85,241 $ 89,203
2023 Total Consumer Spending : $ 39 M $ 328 M $ 433 M
2023 Median Age : 44 39 41
2023 Total Households : 584 4,419 5,576
2023 Pop Age 25+: Bachelor's Degree : 58 937 1,324
2023 Average Home Value : $ 213,411 $ 291,714 $ 307,077
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Royal Ct Royal St 2019 8,076 0.10 mi
Delmar St 2022 6,012 0.10 mi
N Commercial St Hwy 291 2015 11,262 0.26 mi
North Commercial Street S Commercial St 2022 5,568 0.26 mi
N Commercial St 2022 7,261 0.33 mi
Royal St 2022 7,477 0.33 mi
State Hwy 291 E Rock Haven Rd 2019 6,830 0.34 mi
I- 49 2022 1,385 0.40 mi
Hwy 291 2022 2,770 0.42 mi
I- 49 2022 3,670 0.42 mi

Listing Broker

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