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Bubba’s 33 Ground Lease, Texarkana, TX

Bubba’s 33 Ground Lease, Texarkana, TX


Investment Summary

Price $3,453,000
Cap Rate 4.75%
NOI $164,000
Lease Term 15 years
Lease Type Absolute NNN ground lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2024
Building Size 7,575 SF
Lot Size 2.27 acres (98,881 SF)
Status Available
Lead Brokers Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Jack Hinson
Brokerage
704.572.9921
j.hinson@cushwake.com
CA RE License #02059267

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR CORPORATE GROUND LEASE
» 15-year ground lease to strong corporate tenant
» Three (3) five (5) year lease extension options
» Zero Landlord responsibilities, ideal for a passive or out of area investors
» 10% rental increases every five years
» Purchase price well-below the overall capital investment of the tenant (average Bubba’s 33 total capital investment for a new store in 2022 was $7.8M

POSITIONED ALONG MAIN RETAIL CORRIDOR WITHIN TEXARKANA
» Bubba’s 33 was created in 2013 by Kent Taylor, founder and CEO of Texas Roadhouse
» Located next to new Texas Roadhouse relocation store, Bubba’s 33 parent company (also available)
» Current Texas Roadhouse store is the #2 store in Texas and #6 store nationwide (out of 620+ locations)
» Average unit volumes for Texas Roadhouse are above $7.6M for the first time
» Three miles from Texarkana city center
» Immediately surrounded by multiple residential developments – Summerhill Woods Apartments, Woodbridge Apartments, and Sedona Hills Apartments
» Proximity to other retail developments with tenants such as The Home Depot, Walmart, Lowe’s Home Improvement, Sam’s Club, Target, Hobby Lobby, and many others
» High-traffic location on Interstate 30 Frontage Road with excellent visibility and access to 74,250 vehicles per day

LOCATED IN HIGH TRAFFIC VOLUME COMMUNITY CENTER
» Walking distance from Texas High School – Texarkana (1,762 students)
» Minutes from Texas A&M – Texarkana (2,112 students) and Texarkana College (3,575 students) – Limited on-campus dining options: students rely heavily on off-campus restaurants and cafes
» Across the street from Christus St. Michael Hospital – 275 full-time staffed beds and 1,902 employees
» Strong one-mile average household income of $79,360
» Dense five-mile population of 72,915 residents

NEW 2024 CONSTRUCTION IN A TAX-FREE STATE
» New 2024 construction built to latest Bubba’s 33 prototype
» Texas is an income tax-free state

Property Description

» Bubba’s 33 is located along Interstate 30 Frontage Road in central Texarkana on the Texas side of the city. Interstate 30 Frontage Road is one of the major traffic arteries within Texarkana, exceeding 74,250 vehicles per day, while also connecting Bubba’s 33 to multiple nearby major national retailers such as Sam’s Club, Target, The Home Depot, Lowe’s Home Improvement, Academy Sports, Hobby Lobby, Walmart, and many others
» Bubba’s 33 resides within a newly constructed restaurant development which services the 72,915 people who live within five miles of the restaurant
» Bubba’s 33 also enjoys being positioned in a relatively affluent area with a median household income exceeding $79,360 within a one-mile radius
» Additionally, the site is near high-density single-family housing and large apartment complexes, a strong traffic driver for the property
» The Bubba’s 33 site is situated in the center of Texarkana, conveniently located near multiple major community centers including Texas A&M University – Texarkana, Texarkana College, Texas High School – Texarkana, Wadley Regional Medical Center, Christus St. Michael Hospital, and many other significant traffic drivers

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