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Views: 31 DOM: 86 Updated: 05.03.24 Posted: 03.02.24 Status: Active

Summary

Price $1,700,000
Built/Renov 2023
Tenant HTeaO
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,164
Lease Start 06-01-2024
#Units 126
Price/SF $785.58
Expiration 05-31-2034
Tenant Type Fast Food/QSR
NOI $102,000
R. Term 10.0
Ownership Fee Simple
Rent/SF $47.13
Increases 6.0%/5/yrs
Pop 5Mi 29,775
Lot/AC 0.63
Options 6/5yrs/10%
AHHI 5Mi $61,127

Lease Highlights

  • New 2023 construction
  • HTeaO will be executing a brand-new 10-year lease with 6 (5-year) options to extend
  • The lease features 6% rental escalations throughout the initial term and 10% at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Franchisee guaranteed lease

Location Description

HTeaO is strategically located on Lamar Avenue, an arterial thoroughfare, with access to 20,100 vehicles passing by daily. The property's location is further enhanced by its proximity to Paris Towne Center, a bustling community center featuring national tenants such as Hobby Lobby, Aldi, Ross, Big Lots, Hibbett Sports, and more. Additionally, the site benefits from easy access to State Highway...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: HTeaO
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:126
  • Stock:Private

About Tenant

Founded in 2009, Texas-based HTeaO is the leading iced tea franchise, breaking into a niche category in the beverage industry. With a cost-effective business model, the brand operates its own...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,035 23,067 29,492
2023 Total Population : 8,176 23,224 29,786
2023 Employed Civilian Pop : 3,788 9,784 13,186
2023 Total Businesses : 523 1,435 1,688
2023 Average Household Income : $ 56,623 $ 57,272 $ 61,126
2023 Total Consumer Spending : $ 178 M $ 486 M $ 660 M
2023 Median Age : 40 40 40
2023 Total Households : 3,602 9,705 12,344
2023 Pop Age 25+: Bachelor's Degree : 876 2,073 2,800
2023 Average Home Value : $ 155,248 $ 167,587 $ 180,978
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
20th Street Northeast Lamar Ave 2022 6,790 0.64 mi
Lamar Avenue 19th St NE 2022 12,171 0.67 mi
Lamar Avenue 35th St NE 2022 19,379 0.67 mi
Clarksville Street 20th St SE 2022 7,310 0.74 mi
Lamar Ave 35th St NE 2014 15,407 0.75 mi
Clarksville St 18th St SE 2014 7,632 0.81 mi
Pine Mill Rd 2021 2,747 0.83 mi
Pine Mill Rd 2022 2,630 0.83 mi
NE Loop 286 2021 3,588 0.85 mi
NE Loop 286 2022 3,378 0.85 mi

Listing Broker

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