Urban Air Adventure Park

4701 South Staples Street, Corpus Christi, TX 78411

$6,372,000

Cap Rate 7.25%

DOM: 229 Updated: 10.08.24 Posted: 10.08.24 Status: Active

Summary

Price $6,372,000	Built/Renov 1968/2023	Tenant Urban Air Adventure Park
Cap Rate 7.25%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 39,000	Lease Start 09-01-2024	#Units 1
Price/SF $163.38	Expiration 08-31-2034	Tenant Type Sport/Fitness
NOI $462,000	R. Term 9.3	Ownership Fee Simple
Rent/SF $11.85	Increases 5.0%/5/yrs	Pop 5Mi 211,629
Lot/AC 3.32	Options 0/0yrs	AHHI 5Mi $91,042

Highlights

Brand new 10-year lease with no options to extend
The lease features 5% rental increases throughout the initial term
NNN Lease | Minimal landlord responsibilities include CAM, Taxes, Insurance (All reimbursed by tenant)
Lease guaranteed by UA Texas LLC

Location Description

Urban Air is strategically located at the signalized, hard corner intersection of S Staples Street and McArdle Road, a major retail thoroughfare with access to a combined daily traffic count of 37,600 vehicles. The property is ideally situated near Moore Plaza, a shopping center featuring national tenants such as Target, H-E-B, Marshalls, Hobby Lobby, Burlington, and more. Additionally, it is...

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Key Features

Signalized intersection
Recent renovation
Dense retail corridor
Near major nationals
Strong demographics
Major MSA
Income tax free state
Brand new lease
Absolute NNN
Personal guarantee

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Links

Urban Air Adventure Park Wikipedia Corpus Christi, Texas Zip Code 78411 Broker Site Page

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Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Urban Air Adventure Park
Guarantor:Franchisee
Company:UA Texas LLC
# Units:1
Stock:Private

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

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
85791 Views
206 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
77982 Views
173 Sold

Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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