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Views: 115 DOM: 430 Updated: 09.05.24 Posted: 10.18.23 Status: Active

Summary

Price $6,350,000
Built/Renov 2020
Tenant Walk-On's Sports Bistreaux
Cap Rate 6.65%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 11,109
Lease Start 02-02-2020
#Units 2
Price/SF $571.61
Expiration 02-28-2035
Tenant Type Casual Dining
NOI $422,294
R. Term 10.2
Ownership Fee Simple
Rent/SF $38.01
Increases 10.0%/5/yrs
Pop 5Mi 65,379
Lot/AC 1.82
Options 4/5yrs/10%
AHHI 5Mi $77,019

Lease Highlights

  • Walk-On’s has 11+ years remaining on the base term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5-years in both the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • 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
  • Asset is located in an income tax-free state

Location Description

Walk-On's Sports Bistreaux benefits from its strategic location with excellent access and visibility from I-30, a major highway with a daily traffic count of 86,150 vehicles passing by daily. The subject property is conveniently situated adjacent to the new Wadley Regional Medical Center development project, which is scheduled for completion in 2025. This project includes a 254,000 square foot...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 1,731 34,354 65,144
2023 Total Population : 1,776 34,765 65,550
2023 Employed Civilian Pop : 863 15,853 28,426
2023 Total Businesses : 209 2,088 4,058
2023 Average Household Income : $ 72,489 $ 78,596 $ 79,170
2023 Total Consumer Spending : $ 48 M $ 967 M $ 1821 M
2023 Median Age : 36 38 39
2023 Total Households : 774 14,176 26,421
2023 Pop Age 25+: Bachelor's Degree : 184 4,826 8,138
2023 Average Home Value : $ 159,234 $ 235,809 $ 229,122
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
St Michael Dr Hampton Rd 2013 5,898 0.37 mi
Gibson Lane University Ave 2021 1,752 0.38 mi
Pavilion Pkwy St Michael Dr 2013 3,932 0.56 mi
East New Boston Road Jasmin Ln 2021 12,040 0.67 mi
Jonathan St McKnight Rd 2013 348 0.72 mi
US Hwy 59 New Boston Rd 2016 32,304 0.72 mi
Jarvis Parkway Wade Ln 2020 35,674 0.73 mi
N Bishop Rd New Boston Rd 2013 6,820 0.79 mi
Walton Drive New Boston Rd 2021 4,733 0.79 mi
Jasmin Ln Powers Dr 2013 428 0.79 mi

Listing Broker

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