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Views: 14 DOM: 9 Updated: 09.09.24 Posted: 09.09.24 Status: Active

Summary

Price $3,896,000
Built/Renov 2024
Tenant Hawaiian Bros Island Grill
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,950
Lease Start 12-01-2024
#Units 127
Price/SF $1,320.68
Expiration 11-30-2039
Tenant Type Fast Casual/Rest.
NOI $224,000
R. Term 15.2
Ownership Fee Simple
Rent/SF $75.93
Increases 8.0%/5/yrs
Pop 5Mi 83,200
Lot/AC 0.92
Options 4/5yrs/8%
AHHI 5Mi $94,822

Lease Highlights

  • Brand new 2024 construction
  • New 15-year lease with 4 (5-year) options to extend
  • The lease features 8% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Stine Enterprises (127 units backed)

Location Description

Hawaiian Bros Island Grill is strategically located at the signalized, hard corner intersection of Kemp Boulevard and Elliott Street, with access to a combined daily traffic count of 25,590 vehicles. The property is conveniently situated across from Sikes Senter, the only shopping mall within a 100-mile radius of Wichita Falls, surrounded by prominent national tenants including Target, Best...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Hawaiian Bros Island Grill is a fast-growing, award-winning restaurant brand focusing on authentic Hawaiian food. The brand's menu is an homage to the Hawaiian plate lunch, which was founded...


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Listing Broker

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