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DOM: 35 Updated: 04.19.23 Posted: 02.15.23 Status: Sold     03.22.23

Summary

Price $3,075,000 $3,280,000
Built/Renov 2023
Tenant Whataburger (GL)
Cap Rate 4.00% 3.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,500
Lease Start 03-01-2023
#Units 946
Price/SF $878.57 $937.14
Expiration 03-31-2038
Tenant Type Fast Food/QSR
NOI $123,000
R. Term 12.8
Ownership Ground Lease
Rent/SF $35.14
Increases 8.0%/5/yrs
Pop 5Mi 207,000
Lot/AC 1.95
Options 3/5yrs/8%
AHHI 5Mi $83,919

Highlights

  • Brand-new 2023 construction
  • Whataburger Restaurants LLC recently executed a brand-new 15-year lease with 3 (5-year) options to extend 
  • Ground lease features 8% increases every 5 years throughout the initial lease term and at each option period
  • Absolute NNN lease presents zero landlord responsibilities
  • Corporate guaranteed by BDT Capital

Location Description

Whataburger is strategically located at the signalized, hard corner intersection of W. Lower Buckeye Road and S. 99th Avenue, averaging a combined 32,000 vehicles passing by daily. The building is equipped with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. Additionally, the property is ideally situated...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Whataburger (GL)
  • Guarantor:Corporate
  • Company:BDT Capital
  • # Units:946
  • Stock:Private

About Tenant

Whataburger is an American regional fast food restaurant chain . The company, founded by Harmon Dobson and Paul Burton, opened its first restaurant in Corpus Christi, TX , in 1950...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 19,481 89,839 223,096
2023 Total Population : 18,326 84,116 211,701
2023 Employed Civilian Pop : 9,360 40,123 99,241
2023 Total Businesses : 90 900 2,831
2023 Average Household Income : $ 106,923 $ 101,343 $ 92,397
2023 Total Consumer Spending : $ 437 M $ 1984 M $ 4872 M
2023 Median Age : 29 30 30
2023 Total Households : 4,731 22,528 60,304
2023 Pop Age 25+: Bachelor's Degree : 963 5,640 14,731
2023 Average Home Value : $ 340,000 $ 369,976 $ 359,790
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S 99th Ave W Hilton Ave 2015 17,000 0.18 mi
S 99th Ave W Riverwood Blvd 2010 10,802 0.22 mi
South 99th Avenue S 99th St 2018 17,805 0.25 mi
W Lower Buckeye Rd S 102nd Ave 2019 14,211 0.28 mi
W Lower Buckeye Rd S 95th Ave 2013 13,887 0.44 mi
Melon Ln S 102nd Ln 2013 2,519 0.46 mi
Country Place Blvd W Heber Rd 2013 1,175 0.48 mi
Country Place Blvd S 102nd Ln 2010 1,091 0.49 mi
S 103rd Ave W Hughes Dr 2015 1,626 0.51 mi
W Windrow Blvd W Superior Ave 2012 1,455 0.54 mi

Listing Broker

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