Investment Summary
Price | $2,880,000 |
Cap Rate | |
NOI | |
Lease Term | 20 Years |
Lease Type | Absolute NNN Sale-Leaseback, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
Rental Increases | 10% Rental Increases Every Five Years |
Year Built | 2018 |
Building Size | 3,072 SF |
Lot Size | 1.36 Acres (59,242 SF) |
Status | Sold |
Lead Brokers | Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 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 |
Investment Highlights
20-YEAR SALE-LEASEBACK TO NATIONAL TENANT WITH STRONG FINANCIALS
» Absolute NNN sale-leaseback with no landlord management, providing an ideal investment for an out-of-area investor
» 20-year initial term, plus five (5) five (5) year options, with scheduled rental increases every five years, providing a hedge against inflation
» Leased to an iconic tenant with brand recognition as the world’s second-largest fast food hamburger chain
» Burger King’s annual revenue exceeds $1.65 billion
» Located in an income tax free state
HIGH-EXPOSURE LOCATION AND ACCESS TO MAIN THOROUGHFARES
» Visibility and access to 7,900 vehicles per day directly in front of the property on Texas Route 36
» Convenient access to U.S. Route 84 (20,000 AADT), increasing commuter traffic to the location
» Infill location on Gatesville’s primary retail corridor, attracting significant traffic to the site
» Within 1.3 miles of five hotels, including Holiday Inn Express & Suites Gatesville (68 rooms) and Ramada by Wyndham Gatesville (63 rooms)
CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Across the street from the only Walmart Supercenter location within 33 miles of the site
» Interparcel access to a well-established Walgreens location, directing foot traffic to the property
» Surrounded by several major national retailers including Pizza Hut, Taco Bell, Ace Hardware, McDonald’s, Sonic Drive-In, and many more
» Central location in Gatesville Independent School District (within one mile of five schools with a combined enrollment of 2,788 students), significantly increasing lunchtime traffic to the site
» 1.3 miles from the Gatesville Country Club, featuring an 18-hole, par 70 golf course
Property Description
SOLD
The property is strategically located on Texas Route 36, with visibility and access to 7,900 vehicles per day directly in front of the property. Texas State Route 36 serves as the city’s primary retail and transportation corridor. The site has convenient access to U.S. Route 84, a major east–west thoroughfare traversing the entirety of Gatesville and connecting Colorado and Georgia (20,000 AADT). The site is also within 1.3 miles of five hotels, including Holiday Inn Express & Suites Gatesville (68 rooms) and Ramada by Wyndham Gatesville (63 rooms), increasing foot traffic to the site.
Visibility is increased by the site’s proximity near large employers, retailers, and community hubs. The property has interparcel access to a well-established Walgreens location and is across the street from the only Walmart Supercenter location within 33 miles of the site, boosting traffic to the location. Other notable national retailers surrounding the site include Pizza Hut, Taco Bell, Ace Hardware, McDonald’s, Sonic Drive-In, and many more. The property maintains a central location in the Gatesville Independent School District, as the site is within one mile of five schools with a combined enrollment of 2,788 students, significantly increasing lunchtime traffic to the site. The property is also 1.3 miles from the Gatesville Country Club, which features an 18-hole, par 70 golf
course.