Walk-On's Sports Bistreaux

4306 Phoenix Avenue, Fort Smith, AR 72903

$5,426,000

Cap Rate 6.50%

Views: 100 DOM: 330 Updated: 09.05.24 Posted: 10.24.23 Status: Active

Summary

Price $5,426,000	Built/Renov 2021	Tenant Walk-On's Sports Bistreaux
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 10,349	Lease Start 04-01-2021	#Units 2
Price/SF $524.30	Expiration 03-31-2036	Tenant Type Casual Dining
NOI $352,695	R. Term 11.6	Ownership Fee Simple
Rent/SF $34.08	Increases 10.0%/3/yrs	Pop 5Mi 88,235
Lot/AC 1.96	Options 4/5yrs/10%	AHHI 5Mi $72,170

Lease Highlights

State-of-the-art 2021 construction and one of Walk On’s newest prototype designs which includes roll up windows to allow for an indoor/outdoor dining experience
Tenant has 12+ years remaining on the base term of the absolute NNN lease with 4 (5-year) options to extend
Fixed, 10% rental increases every 5 years in both the initial term and option periods
Full-term, personal guarantee from franchisee operator | Speak with Agent for details
Award-winning operator | Tenant won Franchisee of the Year at Walk-On’s in 2019

Location Description

The subject property is strategically positioned, with direct access and visibility along Phoenix Ave. (21,000 VPD) and is just off I-540 (aka US Hwy 71) which boasts nearly 95,000 vehicles passing daily. It is directly across from Fort Smith Pavilion, a 289,000 SF premier regional shopping center, anchored by Target, DICK’S, and Best Buy, as well as across from a newly constructed Starbucks,...

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Key Features

New prototype
Near major nationals
Strategically located
Strong tenant synergy
Highway close
Strong demographics
Major MSA
Absolute NNN
Long 10+ yr lease
Personal guarantee

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Links

Walk-On's Sports Bistreaux Wikipedia Fort Smith, Arkansas Zip Code 72903 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walk-On's Sports Bistreaux
Guarantor:Franchisee
Company:All-In Restaurant Group #3, LLC
# Units:2
Stock:Private

About Tenant

Walk-On’s Sports Bistreaux is a full-service family sports restaurant and bar. Walk-On's Sports Bistreaux features a Louisiana-inspired menu, including waffle cheese fries, fried alligator and...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,202	41,688	89,156
2023 Total Population :	2,223	41,668	88,738
2023 Employed Civilian Pop :	1,133	20,501	40,799
2023 Total Businesses :	242	2,673	4,320
2023 Average Household Income :	$ 112,148	$ 84,529	$ 81,276
2023 Total Consumer Spending :	$ 89 M	$ 1358 M	$ 2608 M
2023 Median Age :	44	40	39
2023 Total Households :	915	18,454	36,807
2023 Pop Age 25+: Bachelor's Degree :	236	5,522	10,983
2023 Average Home Value :	$ 268,708	$ 218,785	$ 212,843

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Phoenix Avenue	S 46th St	2021	16,000	0.03 mi
		2017	49,000	0.04 mi
540	Phoenix Ave	2021	4,800	0.10 mi
Phoenix Avenue	I- 540	2021	21,000	0.12 mi
I- 540	Phoenix Ave	2017	49,000	0.16 mi
I- 540	Phoenix Ave	2002	51,000	0.17 mi
540	I- 540	2021	4,900	0.28 mi
Leigh Avenue	Cliff Dr	2021	3,300	0.33 mi
Old Greenwood Road	Phoenix Ave	2021	28,000	0.34 mi
Old Greenwood Road	Savannah Dr	2021	18,000	0.37 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

171 Listings
19218 Views
20 Sold

Calvin Short

Berkeley Capital Advisors

Contact

178 Listings
19868 Views
22 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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