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Views: 99 Updated: 03.26.24 Posted: 06.03.23 Status: Inactive

Summary

Price $2,545,000
Built/Renov 2022
Tenant HTeaO
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,000
Lease Start 05-01-2023
#Units 111
Price/SF $1,272.50
Expiration 05-01-2038
Tenant Type Fast Food/QSR
NOI $140,000
R. Term 13.5
Ownership Fee Simple
Rent/SF $70.00
Increases 1.5%/1/yrs
Pop 5Mi 211,819
Lot/AC 0.45
Options 3/5yrs/1.5%
AHHI 5Mi $75,573

Lease Highlights

  • The building features a state-of-the-art design and high-quality materials
  • The tenant, HTeaO, recently signed a brand new 15-year lease with 3 (5-year) options to extend
  • The lease features 1.5% annual increases throughout the initial term and options
  • Absolute NNN lease | Zero landlord responsibilities
  • HTeaO is a growing and popular beverage brand with over 100 locations

Location Description

The subject property is strategically located along NW 23rd St, a key retail and commuter thoroughfare which averages 27,300 vehicles passing by daily. The site features multiple access points and benefits from excellent visibility via significant street frontage and a large pylon sign. In addition, the building is equipped with a drive-thru, providing ease and convenience for customers. On...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: HTeaO
  • Guarantor:Corporate
  • Company:HTeaO
  • # Units:111
  • Stock:Private

About Tenant

HTeaO is the leading iced tea franchise and is breaking into a niche category within the beverage industry.They serve ultra-premium tea, water and coffee related products to customers in-store and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 16,415 88,772 213,779
2023 Total Population : 16,116 86,246 210,175
2023 Employed Civilian Pop : 9,149 44,770 101,180
2023 Total Businesses : 953 8,754 16,500
2023 Average Household Income : $ 83,204 $ 75,357 $ 72,025
2023 Total Consumer Spending : $ 531 M $ 2597 M $ 5599 M
2023 Median Age : 33 36 36
2023 Total Households : 7,300 39,346 88,609
2023 Pop Age 25+: Bachelor's Degree : 2,994 14,263 27,016
2023 Average Home Value : $ 295,633 $ 247,047 $ 254,963
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
NW 23rd St N Douglas Ave 2003 22,588 0.02 mi
NW 23rd St N Classen Blvd 2015 19,250 0.14 mi
N Classen Blvd NW 21st St 2019 20,514 0.22 mi
NW 23rd St N Western Ave 2019 19,021 0.22 mi
Northwest 23rd Street 2019 17,600 0.25 mi
North Classen Boulevard 2019 19,600 0.26 mi
North Classen Boulevard 2019 27,100 0.27 mi
N Western Ave NW 22nd St 2015 7,140 0.27 mi
N Western Ave NW 25th St 2015 7,669 0.30 mi
North Western Avenue NW 20th St 2019 5,300 0.31 mi

Listing Broker

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