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Views: 51 DOM: 35 Updated: 06.25.24 Posted: 06.07.24 Status: Active

Summary

Price $2,727,000
Built/Renov 2024
Tenant Hawaiian Bros Island Grill (GL)
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,000
Lease Start 08-01-2024
#Units 75
Price/SF $681.75
Expiration 07-31-2039
Tenant Type Fast Casual/Rest.
NOI $150,000
R. Term 15.0
Ownership Ground Lease
Rent/SF $37.50
Increases 10.0%/5/yrs
Pop 5Mi 240,668
Lot/AC 1.04
Options 5/5yrs/10%
AHHI 5Mi $88,698

Lease Highlights

  • Brand-new 2024 construction
  • Brand-new 15-year ground lease with 5 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Stine Enterprises, Inc (75 units backed)

Location Description

Hawaiian Bros is strategically located on Slide Rd, a major retail thoroughfare, with access to 35,800 vehicles passing by daily. The property is conveniently situated right off TX-289, a major highway (81,900 VPD), and directly across the street from South Plains Mall, one of Lubbock’s largest shopping malls. The immediate area is surrounded by well-known national tenants including a Walmart...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Hawaiian Bros Island Grill is a fast-growing, award-winning restaurant brand focusing on authentic Hawaiian food. The brand's menu is an homage to the Hawaiian plate lunch, which was founded...


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Listing Broker

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