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Views: 196 DOM: 161 Updated: 11.13.24 Posted: 06.07.24 Status: Contract 11.13.24

Summary

Price $2,186,000
Built/Renov 2024
Tenant Wing Daddy's Sauce House
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,000
Lease Start 02-01-2024
#Units 37
Price/SF $637.50
Expiration 03-01-2039
Tenant Type Casual Dining
NOI $153,000
R. Term 14.3
Ownership Fee Simple
Rent/SF $38.25
Increases 10.0%/5/yrs
Pop 5Mi 227,304
Lot/AC 0.90
Options 3/5yrs/10%
AHHI 5Mi $80,903

Lease Highlights

  • Brand new 2024 construction
  • Brand new 15-year lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate & Personal guarantee

Location Description

Wing Daddy's Sauce House is strategically located on North Ware Road, with access to 46,000 vehicles passing by daily. The immediate vicinity boasts well-known national tenants, including Family Dollar, AutoZone, Jiffy Lube, Target, Walmart, and more. Moreover, the site is conveniently situated 5 miles from Downtown McAllen, 6 miles from McAllen International Airport, 9 miles from The...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Wing Daddy’s Sauce House is a fast-casual restaurant chain that offers made-to-order menu items, 23 made-from-scratch sauces, and a variety of delicious drinks. Menu items include chicken wings,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 14,986 104,404 233,178
2024 Total Population : 14,714 101,702 225,750
2024 Employed Civilian Pop : 6,457 45,090 96,920
2024 Total Businesses : 359 3,510 9,646
2024 Average Household Income : $ 99,616 $ 97,385 $ 89,235
2024 Total Consumer Spending : $ 393 M $ 3007 M $ 6208 M
2024 Median Age : 35 36 35
2024 Total Households : 4,446 34,784 77,922
2024 Pop Age 25+: Bachelor's Degree : 2,366 17,119 34,002
2024 Average Home Value : $ 196,682 $ 243,059 $ 232,794
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
3 Mile Line N Ware Rd 2014 14,538 0.16 mi
North Ware Road 3 Mile Line 2022 22,627 0.27 mi
3 Mile Line N Bentsen Rd 2014 10,781 0.46 mi
N 29th St 3 Mile Line 2014 7,396 0.51 mi
N 29th St Quamasia Ave 2014 9,396 0.55 mi
Nolana St N Ware Rd 2014 17,172 0.63 mi
Nolana St N Ware Rd 2014 10,414 0.63 mi
N Ware Rd Nolana St 2014 26,702 0.68 mi
West Nolana Avenue N 29th St 2022 22,656 0.85 mi
Lark Ave N 36th St 2014 4,868 0.88 mi

Listing Broker

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