Walk-On's Sports Bistreaux

6523 South Broadway Avenue, Tyler, TX 75703

$5,631,000

Cap Rate 6.50%

Views: 92 DOM: 50 Updated: 10.17.24 Posted: 09.26.24 Status: Active

Summary

Price $5,631,000	Built/Renov 2017	Tenant Walk-On's Sports Bistreaux
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 8,458	Lease Start 12-01-2024	#Units 10
Price/SF $665.76	Expiration 11-30-2039	Tenant Type Casual Dining
NOI $366,000	R. Term 15.0	Ownership Fee Simple
Rent/SF $43.27	Increases 10.0%/5/yrs	Pop 5Mi 96,182
Lot/AC 2.01	Options 3/5yrs/10%	AHHI 5Mi $99,956

Calvin Short

Berkeley Capital Advisors

Contact

Lease Highlights

New 15-year lease with 3 (5-year) options to extend upon close of escrow
The lease features 10% rental increases every 5 years
Absolute NNN lease | Zero landlord responsibilities
Full-term, personal guarantee from the principal operator who currently operates 10 locations| See broker for details on net worth

Location Description

Walk-On's is strategically located on S Broadway Avenue, with access to 45,000 vehicles passing by daily. The property is conveniently situated less than half a mile south of a Lowe ’s-anchored shopping center and 1.5 miles south of Broadway Square Mall, one of two major malls in East Texas. The surrounding area includes multiple shopping centers anchored by national retailers such as Ross,...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Major MSA
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Personal guarantee

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Links

Walk-On's Sports Bistreaux Wikipedia Tyler, Texas Zip Code 75703 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walk-On's Sports Bistreaux
Guarantor:Franchisee
Company:Tyler Eats, LLC
# Units:10
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,...

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Listing Broker

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