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Views: 26 DOM: 32 Updated: 09.12.24 Posted: 08.16.24 Status: Active

Summary

Price $3,380,000
Built/Renov 2024
Tenant Bubba's 33 (GL)
Cap Rate 5.00%
Lease Type NN+
Guarantor Corp Traded
Size/SF 7,575
Lease Start 11-01-2024
#Units 48
Price/SF $446.20
Expiration 10-31-2039
Tenant Type Casual Dining
NOI $169,000
R. Term 15.1
Ownership Ground Lease
Rent/SF $22.31
Increases 10.0%/5/yrs
Pop 5Mi 147,048
Lot/AC 1.08
Options 3/5yrs/10%
AHHI 5Mi $98,825

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year ground lease with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for CAM charges
  • Corporate guaranteed lease

Location Description

Bubba’s 33 is strategically located on Southpointe Boulevard, a major retail thoroughfare with access to a high daily traffic count of 46,700 vehicles. The property will be an outparcel to a future Hy-Vee grocery store-anchored center, which will also include well-known national tenants such as Panera Bread and Bank of America. Additionally, it is situated less than a mile from both a Walmart...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Bubba's 33 is a casual dining restaurant chain known for its vibrant, family-friendly atmosphere and a menu that features a variety of American dishes, including burgers, pizza, wings, and...


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Listing Broker

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