Walk On's | 14+yrs Remaining Abs NNN
7,500 SF | Retail Building | Opelika, AL 36804 | $6,657,000 ($888/SF) | 7.25% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $6,657,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 7,500 SF
- Price / Square Foot
- $888
Listing Contacts
Kyle Fant
Verified Profile
Britt Raymond
Verified Profile
- Property Info
Property Overview
• 14+ years remain on an original 15-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases every 5 years and at the beginning of each option period, generating NOI and hedging against inflation
• Walk On’s is an award-winning, family-friendly restaurant and bar that has over 100 locations currently open and operating, and over 150 in development throughout the entire Southeast of the United States
• Corporate guaranty by DBMC Restuarants, LLC. Formed in 2009, DBMC has continued to expand in the industry with 21 Sante Fe Cattle Company locations, 9 Cody’s Original Roadhouse locations, and 21 Walk-On’s currently operated with 17 more in various development stages.
• DBMC Restaurants employs over 2,500 team members and operates in seven states
• Walk On’s received the 2023 Best in Class Hospitality Award for strong brand sentiment and star rated performance during the year
• The lease features 10% rental increases every 5 years and at the beginning of each option period, generating NOI and hedging against inflation
• Walk On’s is an award-winning, family-friendly restaurant and bar that has over 100 locations currently open and operating, and over 150 in development throughout the entire Southeast of the United States
• Corporate guaranty by DBMC Restuarants, LLC. Formed in 2009, DBMC has continued to expand in the industry with 21 Sante Fe Cattle Company locations, 9 Cody’s Original Roadhouse locations, and 21 Walk-On’s currently operated with 17 more in various development stages.
• DBMC Restaurants employs over 2,500 team members and operates in seven states
• Walk On’s received the 2023 Best in Class Hospitality Award for strong brand sentiment and star rated performance during the year
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 78,408 SF
Highlights
- 14+ Years Remaining | Scheduled Rental Increases | 2023 Best in Class Hospitality Award Winner
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Part of Larger Development | Off I-85 | Surrounding Retailers | Next to Tiger Town Outdoor Shopping Center
- Auburn University Proximity to Columbus & Montgomery
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