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DOM: 97 Updated: 08.26.23 Posted: 04.21.23 Status: Sold     07.28.23

Summary

Price $2,475,000
Built/Renov 2002/2006
Tenant Whataburger (GL)
Cap Rate 4.85%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,168
Lease Start 10-01-2002
#Units 946
Price/SF $781.25
Expiration 10-31-2032
Tenant Type Fast Food/QSR
NOI $120,000
R. Term 7.3
Ownership Ground Lease
Rent/SF $37.88
Increases 8.0%/4/yrs
Pop 5Mi 234,045
Lot/AC 0.92
Options 3/5yrs/8%
AHHI 5Mi $106,800

Highlights

  • Whataburger has been operating in this location since 2002
  • There are over 9 years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features an 8% rental increase in Nov ‘27, as well as 10% increases at the beginning of each option period
  • Absolute NNN ground lease featuring zero landlord responsibilities
  • Corporate guarantee by BDT Capital

Location Description

Whataburger is located near the signalized, hard corner intersection of Blanco Road and Bitters Road with a combined 57,900 vehicles passing per day. Blanco Road is a major retail thoroughfare serving the city of San Antonio. The property is 2 miles south of Vineyard Shopping Center, a 159,000 square foot shopping center anchored by Whole Foods and Target. In addition, Whataburger is located...

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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. Known for their...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,783 87,891 230,038
2023 Total Population : 11,095 90,545 231,512
2023 Employed Civilian Pop : 6,636 50,448 127,395
2023 Total Businesses : 365 5,542 14,069
2023 Average Household Income : $ 114,389 $ 125,419 $ 109,906
2023 Total Consumer Spending : $ 493 M $ 4323 M $ 9532 M
2023 Median Age : 41 40 38
2023 Total Households : 5,091 40,280 100,846
2023 Pop Age 25+: Bachelor's Degree : 2,803 20,698 50,797
2023 Average Home Value : $ 363,306 $ 393,101 $ 350,800
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Old Bitters Rd River Park 2000 4,180 0.06 mi
W Bitters Rd Blanco Rd 2010 26,080 0.15 mi
Blanco Road Cadillac Dr 2021 23,693 0.23 mi
Blanco Road W Bitters Rd 2020 20,425 0.23 mi
Cadillac Dr Blanco Rd 2010 2,400 0.26 mi
W Bitters Rd Blanco Rd 2010 18,060 0.27 mi
W Bitters Rd Ctside Cir 2000 27,080 0.29 mi
Blanco Road Vis del Monte 2021 25,330 0.30 mi
Blanco Rd W Bitters Rd 2010 29,620 0.31 mi
Vis del Monte Vis Bonita 2010 1,130 0.35 mi

Listing Broker

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