Hat Creek Burger,
Spring, TX Investment Summary
| Price | $3,907,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot |
| Rental Increases | 1.5% Annual Rental Increases |
| Year Built | 2019 |
| Building Size | ± 4,447 SF |
| Lot Size | 1.25 Acres (54,450 SF) |
| Status | Sold |
| Lead Brokers | Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 20-YEAR ABSOLUTE NNN CORPORATE GUARANTEED LEASE WITH ANNUAL RENTAL INCREASES
» Corporate guaranteed 20-year absolute NNN lease
» Four (4) five (5) year option periods
» No landlord management, ideal for an out-of-area investor
» 1.5% annual rental increases, providing a hedge against inflation
» Corporate guaranty from Hat Creek Burger Inc.
EASILY ACCESSIBLE LOCATION IN HIGHLY POPULATED AND AFFLUENT AREA
» 285,660 residents within a five-mile radius of the property
» Easily accessibly location along Louetta Road (36,700 AADT)
» Average annual household income of $145,565 within a one-mile radius of the property
» Projected 10 percent average annual household income increase within five miles of the site in the next five years, poising Hat Creek Burger and Spring for significant concurrent growth
CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Walking distance from Kleb Intermediate School and Klein High School (combined 4,812 students), significantly increasing lunchtime traffic to the location
» Surrounded by a strong mix of well-established national tenants in a dense retail corridor, including CVS, ALDI, Walgreens, H-E-B, Panera Bread, and many more
» Located within five miles of 12 major shopping centers with a combined 5.2 million SF of retail space and 695 stores, promoting crossover shopping to the site
» Beneficial proximity to Hewlett Packard Enterprise (2,600 employees)
» Gateway to Houston, the fourth-most populous city in the U.S.
2019 CONSTRUCTION IN A TAX-FREE STATE
» Features latest Hat Creek Burger prototype
» Includes a drive-thru window and a ±1,500-SF climate controlled patio with the option for full enclosure
» Located in an income-tax free state
Property Description
SOLD
The property has an easily accessible location along Louetta Road, with visibility and access to 36,700 vehicles per day. The property benefits from its central location in a highly populated area, with 285,660 residents living within a five-mile radius of the location. The site also has a beneficial location in an extremely affluent area, with an average annual household income of $145,565 within a one-mile radius of the property. With a projected 10 percent average annual household income increase within five miles of the site in the next five years, Hat Creek Burger and Spring are poised for significant concurrent growth.
The site benefits from its location near large employers, retailers, and community hubs. The property is within walking distance of Kleb Intermediate School and Klein High School (combined 4,812 students), significantly increasing lunchtime traffic to the location. Visibility to the site is also increased by its central location within five miles of 12 major shopping centers with a combined 5.2 million SF of retail space and 695 stores. The location is surrounded by a strong mix of well-established national tenants in a dense retail corridor, including CVS, ALDI, Walgreens, H-E-B, Panera Bread, Zaxby’s, Dollar Tree, Domino’s Pizza, and many more. The site also experiences increased activity from its proximity and easy access to Houston, the fourth-most populous in the United States.
