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Views: 47 DOM: 76 Updated: 08.05.24 Posted: 06.24.24 Status: Active

Summary

Price $3,240,000
Built/Renov 2008
Tenant Urban Air Adventure Park
Cap Rate 7.50%
Lease Type NN+
Guarantor Franchisee
Size/SF 20,245
Lease Start 03-10-2018
#Units 1
Price/SF $160.04
Expiration 03-31-2028
Tenant Type Sport/Fitness
NOI $242,940
R. Term 3.6
Ownership Fee Simple
Rent/SF $12.00
Increases 8.3%/1/yrs
Pop 5Mi 43,106
Lot/AC 3.79
Options 1/5yrs/9%
AHHI 5Mi $106,757

Lease Highlights

  • Urban Air Adventure Park has 3+ years remaining on the current lease term with 1 (5-year) option to extend
  • The lease features an 8.33% rental escalation during the initial term with a 9% increase at the start of the remaining option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Lease guaranteed by Jackson Family Industries, LLC

Location Description

Urban Air Adventure Park is strategically located on Bass Pro Drive, with access to a robust daily traffic count of 59,400 vehicles. The property benefits from direct access to US Highway 98 (41,700 VPD) and US Highway 31 (23,700 VPD). Additionally, it fronts Interstate 10 (59,400 VPD) and is ideally situated as a co-anchor to Spanish Fort Town Center, a lifestyle center also anchored by...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Urban Air Adventure Park is a leading chain of indoor amusement parks that offers a wide range of activities and attractions designed to provide fun and excitement for all ages. Founded in 2011,...


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Listing Broker

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