Hawaiian Bros Island Grill (GL)

5501 Slide Road, Lubbock, TX 79414

$2,727,000

Cap Rate 5.50%

Views: 91 DOM: 92 Updated: 08.06.24 Posted: 06.07.24 Status: Active

Summary

Price $2,727,000	Built/Renov 2024	Tenant Hawaiian Bros Island Grill (GL)
Cap Rate 5.50%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,000	Lease Start 08-01-2024	#Units 75
Price/SF $681.75	Expiration 07-31-2039	Tenant Type Fast Casual/Rest.
NOI $150,000	R. Term 14.11	Ownership Ground Lease
Rent/SF $37.50	Increases 10.0%/5/yrs	Pop 5Mi 240,668
Lot/AC 1.04	Options 5/5yrs/10%	AHHI 5Mi $88,698

Lease Highlights

Brand-new 2024 construction
Brand-new 15-year ground lease with 5 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Lease guaranteed by Stine Enterprises, Inc (75 units backed)

Location Description

Hawaiian Bros is strategically located on Slide Rd, a major retail thoroughfare, with access to 35,800 vehicles passing by daily. The property is conveniently situated right off TX-289, a major highway (81,900 VPD), and directly across the street from South Plains Mall, one of Lubbock’s largest shopping malls. The immediate area is surrounded by well-known national tenants including a Walmart...

...

Key Features

New construction
Dense retail corridor
Near major nationals
Strong demographics
Major MSA
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
50+ unit franchisee backed

...

Links

Hawaiian Bros Island Grill Wikipedia Lubbock, Texas Zip Code 79414 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Hawaiian Bros Island Grill
Guarantor:Franchisee
Company:Stine Enterprises, Inc
# Units:75
Stock:Private

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...

...

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

343 Listings
29582 Views
131 Sold

Patrick Luther

SRS National Net Lease Group

Contact

393 Listings
32691 Views
160 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

...

Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

...

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