BJ’s Restaurant & Brewhouse,
San Antonio, TX Investment Summary
| Price | $4,757,000 |
| Cap Rate | |
| NOI | $245,000 |
| Lease Term | 16 Years |
| Lease Type | Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2023 |
| Building Size | 7,600 SF |
| Lot Size | 2.08 Acres (90,605 SF) |
| Status | Closed |
| Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Jack Hinson Brokerage 704.572.9921 jack.hinson@cushwake.com CA RE License #02059267 |
Investment Highlights
NEW 16-YEAR CORPORATE ABSOLUTE NNN GROUND LEASE IN TAX-FREE STATE
» 16-year absolute NNN ground lease to strong corporate tenant
» 10% rental increases every five years, providing a hedge against inflation
» No landlord responsibilities, ideal for an out-of-area investor
» BJ’s Restaurants, Inc. (NASDAQ: “BJRI”) is a strong national brand with 216 locations in 29 states
» BJ’s earned a Q4 2021 record $291.3 million in total sales, followed by a Q1 2022 record $298.7 million
» Property is a 2023 construction on a large parcel with multiple access points and 155 total parking spaces, providing ideal accessibility
» Texas has no state income tax, estate tax, or inheritance tax
PRIME LOCATION AT ENTRANCE TO BROOKS CITY BASE
» Conveniently located along Southeast Military Drive and near the signalized intersection with South New Braunfels Avenue, with excellent visibility and access to 46,167 vehicles per day
» Located at the entrance to Brooks City Base, a $1.5B+, 1,308-acre mixed-use community with 6,000 employees and 2,300+ students
» Immediately surrounded by notable tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home Improvement, Best Buy, Chick-fil-A, and many more
» Now home to more than 50 businesses, the Brooks region is predicted to support more than 19,000 direct and indirect jobs by 2024
DENSELY POPULATED AREA WITH EXCELLENT TOURIST DEMOGRAPHICS
» 197,450 residents live within five miles of the property, creating a large and reliable customer base for the site
» Located in a major tourist area and near Texas landmarks including Mission San Juan (300,000+ annual visitors) and San Antonio Missions National Historical Park (1.33 million visitors in 2021)
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise BJ’s and San Antonio for steady concurrent growth
» Seven miles from Downtown San Antonio, the urban core of Greater San Antonio serving 2.5 million people
Property Description
SOLD
» This BJ’s Restaurant & Brewhouse is conveniently located along Southeast Military Drive and near the signalized intersection with South New Braunfels Avenue, with excellent visibility and access to 46,167 vehicles per day
» Located at the entrance to Brooks City Base, a $1.5B+, 1,308-acre mixed-use community with 6,000 employees and 2,300+ students
» The property is immediately surrounded by notable tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home
Improvement, Best Buy, Chick-fil-A, and many more
» Now home to more than 50 businesses, the Brooks region is predicted to support more than 19,000 direct and indirect jobs by 2024
» 197,450 residents live within five miles of the property, creating a large and reliable customer base for the site
» Located in a major tourist area and near Texas landmarks including Mission San Juan (300,000+ annual visitors) and San Antonio Missions National Historical Park (1.33 million visitors in 2021)
