Walk-On's | 15-Yr NNN SLB | 45k VPD | TX

8,458 SF | Retail Building | Tyler, TX 75703 | $5,631,000 ($666/SF) | 6.50% Cap Rate

Date Added:
May 17, 2024
Days on Market:
28 days

Asking Price $5,631,000

Sale Condition
Build to Suit
Property Type
Retail, Restaurant
Square Feet
8,458 SF
Price / Square Foot
$666

Listing Contacts

Calvin Short
Calvin Short
Verified Profile
Matt Coates
Matt Coates
Verified Profile
Gary Chou
Gary Chou
Verified Profile
Aron Cline
Aron Cline
Verified Profile
  • Property Info

Property Overview

• New, 15-year, absolute NNN lease with one of the fastest growing restaurant concepts in the country
• Attractive, average yield of 7.17% over the base lease term, assuming purchase at List Price
• Signalized, hard corner location directly off Broadway Ave with excellent access and visibility to ±45,000 VPD
• A block from the busy, signalized intersection of Grande Blvd & Broadway Ave | Boasts ±66,500 VPD
• Within a few blocks of shopping centers anchored by Target and a Walmart Supercenter
• 10% rental increases every 5 years throughout the initial term and options, providing a great hedge against inflation
• Less than half-a-mile south from a Lowe’s-anchored shopping center | Other tenants include Best Buy, Marshalls, ULTA, PetSmart, among others
• 1.5 miles south of:
• Broadway Square Mall | One of two major malls in East Texas | ±80 tenants across 629,000 SF | Anchored by Dillard’s, DICK’S
Sporting Goods, and JCPenney | Recently underwent a multimillion-dollar transformation
• Tyler Legacy High School | 2,350+ students
• Multiple shopping centers anchored by Ross, Hobby Lobby, Natural Grocers, and Ashley Furniture
• 1.75 miles north of The Village at Cumberland Park, a new, outdoor regional mega-center | 90-acre development with 45 premium dining,
retail, and lifestyle stores across 750,000 SF | Anchored by Gander Outdoors, TJMaxx, Ross, Studio Movie Grill, Burlington, Bed Bath & Beyond, H&M, Urban Air Adventure Park
• Full-term, personal guarantee from the principal operator who currently operates 10 locations | See broker for details on net worth
• Brand-driven demographics | 64,700+ residents with an AHI exceeding $110,000 within a 10-minute drive
• Industry-leading average unit volume of over $5MM across 78+ restaurants | 65+ locations in some phase of planning or development across 14 states

Property Details

Class
B
Year Built
2017
Stories
1
Property Subtype
Freestanding
Lot Size (sq. ft)
87,556 SF

Highlights

  • New, 15-year, absolute NNN lease with one of the fastest growing restaurant concepts in the country
  • Attractive, average yield of 7.17% over the base lease term, assuming purchase at List Price
  • Signalized, hard corner location directly off Broadway Ave with excellent access and visibility to ±45,000 VPD
  • Full-term, personal guarantee from the principal operator who currently operates 10 locations | See broker for details on net worth
  • 10% rental increases every 5 years throughout the initial term and options, providing a great hedge against inflation
  • Within a few blocks of shopping centers anchored by Target and a Walmart Supercenter

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