Walk-On's Sports Bistreaux

3390 Capital Circle Northeast, Tallahassee, FL 32308

$7,472,000

Cap Rate 6.60%

Views: 65 Updated: 04.22.24 Posted: 10.18.23 Status: Inactive 04.08.24

Summary

Price $7,472,000	Built/Renov 2020/2021	Tenant Walk-On's Sports Bistreaux
Cap Rate 6.60%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 7,078	Lease Start 02-01-2021	#Units 23
Price/SF $1,055.67	Expiration 01-31-2036	Tenant Type Casual Dining
NOI $493,144	R. Term 11.1	Ownership Fee Simple
Rent/SF $69.67	Increases 10.0%/3/yrs	Pop 5Mi 124,664
Lot/AC 2.62	Options 4/5yrs/10%	AHHI 5Mi $100,673

Calvin Short

Berkeley Capital Advisors

Contact

Lease Highlights

Walk-On’s Sports Bistreaux has over 12 years remaining on the current lease term with 4 (5-year) options to extend
Lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by DBMC Restaurants

Location Description

Walk-On's Sports Bistreaux is positioned on an oversized 2.62-acre parcel with ample parking and flexibility for future redevelopment. It is located along Capital Circle NE, a dense retail corridor with access to 95,700 vehicles passing by daily, and with direct access to I-10 (68,600+ VPD). The site benefits from a robust mix of nearby retails such as Trader Joe’s, TJ Maxx, Home Depot,...

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Key Features

Recent renovation
High traffic 50M+ VPD
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Income tax free state
Absolute NNN
Long 10+ yr lease
Personal guarantee

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Links

Walk-On's Sports Bistreaux Wikipedia Tallahassee, Florida Zip Code 32308 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walk-On's Sports Bistreaux
Guarantor:Franchisee
Company:DBMC Restaurants
# Units:23
Stock:Private

About Tenant

Walk-On’s Sports Bistreaux is a full-service family sports restaurant and bar. Walk-On's Sports Bistreaux features a Louisiana-inspired menu, including waffle cheese fries, fried alligator and...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,373	46,453	125,614
2023 Total Population :	6,472	46,788	125,724
2023 Employed Civilian Pop :	3,608	26,123	68,991
2023 Total Businesses :	1,254	3,300	8,564
2023 Average Household Income :	$ 99,483	$ 118,421	$ 100,097
2023 Total Consumer Spending :	$ 274 M	$ 2090 M	$ 4700 M
2023 Median Age :	40	43	36
2023 Total Households :	3,167	20,569	54,343
2023 Pop Age 25+: Bachelor's Degree :	1,373	11,380	26,653
2023 Average Home Value :	$ 427,567	$ 389,949	$ 360,010

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Lonnbladh Rd	Metropolitan Blvd	2012	2,607	0.06 mi
Raymond Diehl Rd	Lonnbladh Rd	2012	17,029	0.12 mi
Capital Cir NE	Raymond Diehl Rd	2005	45,000	0.12 mi
Metropolitan Blvd	Lonnbladh Rd	2011	5,117	0.13 mi
Raymond Diehl Road	Lonnbladh Rd	2022	13,000	0.15 mi
Capital Circle Northeast	Capital Cir NE	2021	53,500	0.16 mi
	Capital Cir NE	2022	4,400	0.19 mi
	Capital Cir NE	2022	2,000	0.21 mi
Raymond Diehl Rd	Thomasville Rd	2011	11,700	0.22 mi
	Capital Cir NE	2022	2,600	0.23 mi

Listing Broker

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