loader
Join Free
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 13.7
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...

...

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...


...

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

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity