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Views: 108 Updated: 07.19.24 Posted: 04.18.24 Status: Inactive 10.21.24

Summary

Price $2,900,000
Built/Renov 1933/2018
Tenant Shoe Palace (Nice Kicks)
Cap Rate 6.83%
Lease Type Double NN
Guarantor Corporate
Size/SF 6,399
Lease Start 01-01-2018
#Units 160
Price/SF $453.20
Expiration 12-31-2027
Tenant Type General Retail
NOI $198,009
R. Term 3.0
Ownership Fee Simple
Rent/SF $30.94
Increases 4.0%/1/yrs
Pop 5Mi 370,439
Lot/AC 0.15
Options 2/5yrs/4%
AHHI 5Mi $127,810

Lease Highlights

  • Tenant has 3+ years remaining on their primary lease with 2 (5-year) options to extend
  • Lease features 4% annual rental increases
  • Income tax free state
  • Lease guaranteed by Shoe Palace Corporate, a wholly owned subsidiary of JD Sports, a $7b revenue company

Location Description

Nice Kicks is conveniently situated at the signalized, hard corner intersection of Guadalupe Street and W 29th Street with a combined daily traffic count of 30,840 vehicles. The subject property benefits from high visibility and easy accessibility. The University of Texas at Austin, with a student population of 51,991, is less than 2 miles away, providing a prime customer base. The surrounding...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Shoe Palace is a private athletic footwear and apparel retail chain. The company, which was founded in 1993 in San Jose, CA, carries only elite shoe and apparel brands. At the end of 2020, the...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 36,562 176,387 384,450
2023 Total Population : 36,904 165,665 370,439
2023 Employed Civilian Pop : 17,040 100,396 221,288
2023 Total Businesses : 2,005 14,973 28,096
2023 Average Household Income : $ 69,450 $ 137,611 $ 127,810
2023 Total Consumer Spending : $ 918 M $ 9456 M $ 19258 M
2023 Median Age : 23 30 32
2023 Total Households : 14,938 79,389 173,271
2023 Pop Age 25+: Bachelor's Degree : 4,338 43,467 94,778
2023 Average Home Value : $ 856,619 $ 858,582 $ 775,896
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West 29th Street Rio Grande St 2015 8,969 0.01 mi
Guadalupe St W 29th St 2005 28,000 0.02 mi
W 29th St Rio Grande St 2010 11,120 0.04 mi
W 29th St East Dr 2010 5,520 0.05 mi
West 29th Street East Dr 2015 3,734 0.05 mi
Guadalupe St W 30th St 2002 27,650 0.05 mi
Rio Grande St W 29th St 2005 4,380 0.06 mi
Fruth St Guadalupe St 2003 1,872 0.08 mi
Guadalupe Street W 30th St 2015 26,802 0.08 mi
W 30th St Guadalupe St 2002 13,130 0.09 mi

Listing Broker

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