Arby's

3805 Andrews Highway, Odessa, TX 79762

$2,097,965

Cap Rate 5.75%

Views: 116 Updated: 10.28.23 Posted: 10.28.23 Status: Inactive

Summary

Price $2,097,965	Built/Renov 1982	Tenant Arby's
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,826	Lease Start 12-29-2015	#Units 230
Price/SF $742.38	Expiration 12-31-2035	Tenant Type Fast Food/QSR
NOI $120,633	R. Term 11.0	Ownership Fee Simple
Rent/SF $42.69	Increases 1.8%/1/yrs	Pop 5Mi 122,393
Lot/AC 0.64	Options 4/5yrs/1.75%	AHHI 5Mi $78,350

Lease Highlights

Arby’s has operated at this site for over 37 years
Arby’s absolute NNN lease features 12+ years of term remaining with 4 (5-year) renewal options | No Landlord obligations
The lease boasts rare 1.75% annual increases throughout the term and renewal options
This location is operated by Turbo Restaurants, a part of Sun Holdings Inc—which currently operates 230 Arby’s throughout TX

Location Description

The subject property is located with excellent access and visibility along Andrews Highway (20,664 VPD), just feet from its signalized intersection with 42nd Street (34,818 VPD). Nearby national retailers include Big Lots, Harbor Freight Tools, AutoZone Auto Parts, CVS, Dollar Tree, and many more, creating a strong drive to the trade area. The site is surrounded by a concentration of...

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Key Features

In location for years
High traffic 50M+ VPD
Dense retail corridor
Highway location
Dense 100M+ pop 5 mi
Income tax free state
Absolute NNN
Annual rent increases
Top franchise operator
Credit rated company

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Links

Arby's Wikipedia Arby's Wikipedia Odessa, Texas Zip Code 79762 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Arby's
Guarantor:Franchisee
Company:Turbo Restaurants
# Units:230
Tenant S&P: B+
Moody’s: B2
Stock:Private

About Tenant

Arby’s is an American fast food sandwich restaurant chain and the first nationally franchised sandwich restaurant brand. Founded in 1964 in Boardman, OH, the chain is well known for slow roasted,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	13,215	76,502	125,679
2023 Total Population :	12,906	74,807	122,392
2023 Employed Civilian Pop :	6,103	36,184	59,769
2023 Total Businesses :	340	3,212	4,850
2023 Average Household Income :	$ 63,198	$ 73,031	$ 78,350
2023 Total Consumer Spending :	$ 256 M	$ 1741 M	$ 3011 M
2023 Median Age :	30	34	34
2023 Total Households :	4,602	27,239	43,888
2023 Pop Age 25+: Bachelor's Degree :	872	6,145	10,853
2023 Average Home Value :	$ 162,749	$ 222,695	$ 246,532

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Andrews Hwy	W 38th St	2016	22,646	0.04 mi
W 38th St	Andrews Hwy	2016	2,305	0.06 mi
Andrews Highway	W 42nd St	2018	24,600	0.08 mi
Andrews Highway	W 42nd St	2020	19,485	0.08 mi
Andrews Highway	W 38th St	2019	24,063	0.08 mi
Andrews Highway	E 19th St	2021	21,044	0.08 mi
E 38th St	N Texas Ave	2016	3,346	0.08 mi
Andrews Hwy	W 38th St	2016	23,653	0.10 mi
West 42nd Street	N Co Rd W	2021	28,264	0.12 mi
West 42nd Street (Chris Kyle Memorial Highway)	Andrews Hwy	2020	26,170	0.12 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
16780 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
16930 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
16931 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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