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Salad and Go Ground Lease, San Antonio, TX

Salad and Go Ground Lease, San Antonio, TX


Investment Summary

Price $2,124,000
Cap Rate 5.65%
NOI $120,000
Lease Term 20 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 in initial term and options
Year Built 2024
Building Size 556 SF
Lot Size 0.684 acres (29,795 SF)
Status Available
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

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

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 20-YEAR ABSOLUTE NNN GROUND LEASE TO GROWING QSR TENANT
» New 20-year corporate absolute NNN ground lease to Salad and Go
» Landlord has no maintenance, replacement, or repair obligations, ideal for a passive investor
» 10% rental increases every five years in initial term and option periods
» Salad and Go has rapidly expanded to 135+ locations by end of year 2023, with a steady pipeline under entitlement/development

HARD SIGNALIZED CORNER LOCATION IN HIGHLY DENSE AND AFFLUENT AREA OF SAN ANTONIO WITH STRONG TRAFFIC COUNTS
» Current five-mile population of 200,938 residents (expected to grow 20+% by 2028)
» Average household income of $127,766 within one mile (projected to grow more than 11% over the next five years)
» Prominent location on the four-way signalized intersection of Reid Ranch Road and Potranco Road, with visibility and access to a combined 34,614 vehicles per day
» Located within a brand-new retail development which includes a new McDonald’s, Black Rock Coffee, Tommy’s Express Car Wash, Dollar Tree, and many others
» Immediately surrounded by multiple newly constructed residential subdivision developments with over 30,000 new lots in the immediate vicinity
» Proximity to other retail developments with tenants such as Costco Wholesale, Walmart, TJ Maxx, PetSmart, Kohl’s, H-E-B, and many others

LOCATED IN HIGH-TRAFFIC COMMUNITY CENTER POISED FOR CONTINUOUS GROWTH
» Walking distance to Gregory Luna Middle School (1,400 students)
» Gateway to San Antonio (1.41 million residents), the second largest city in Texas and part of San Antonio MSA, home to 2.6 million people and experiencing robust growth
» Close proximity to Lackland Air Force Base (population 46,577)
» Surrounded by high-density single-family housing developments – population of 200,938 within five miles of the property, which is expected to grow by more than 40% over the next five years
» Minutes from Northwest Vista College (16,293 students) – Limited on-campus dining options: students rely heavily on off-campus restaurants and cafes

NEW 2024 CONSTRUCTION IN A TAX-FREE STATE
» New high-quality 2024 construction featuring dedicated dual lane drive-thru for added customer convenience
» Texas has no state income tax, estate tax, or inheritance tax

Property Description

This Salad and Go is located along Potranco Rd in West San Antonio, TX. Potranco Rd is major traffic artery within Western San Antonio, exceeding 26,000 vehicles per day, while also connecting Salad and Go to multiple nearby major national retailers such as Costco Wholesale, Walmart, TJ Maxx, PetSmart, Kohl’s, H-E-B, and many others. Salad and Go resides within a newly constructed shopping center which services the nearly 205,000 people who live within five miles of the restaurant. Salad and Go also enjoys being positioned in a very affluent area with a median household income exceeding $127,766 within a one-mile radius. Additionally, the site is near many high-density single-family housing developments and large apartment complexes, a strong traffic driver for the property.

The property is situated near various large employers, schools, and community areas. The restaurant is within walking distance of three local schools, the largest being Gregory Luna Middle School which is home to 1,400 students. Salad and Go is eight miles from Lackland Air Force Base (population 46,577) and JBSA-Lackland and Medina Training Annex. This property is located in a rapidly growing area of San Antonio, the second-largest city in Texas (1.4 million residents), and is located 20 miles from downtown, which welcomes 34 million visitors annually.

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