Whataburger (GL)

2014 South Rangeline Road, Joplin, MO 64804

$2,440,000

Cap Rate 5.00%

DOM: 98 Updated: 06.05.24 Posted: 11.17.23 Status: Sold 02.23.24

Summary

Price $2,440,000	Built/Renov 2023	Tenant Whataburger (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,787	Lease Start 11-01-2023	#Units 946
Price/SF $644.31	Expiration 11-30-2038	Tenant Type Fast Food/QSR
NOI $122,000	R. Term 13.6	Ownership Ground Lease
Rent/SF $32.22	Increases 10.0%/5/yrs	Pop 5Mi 53,922
Lot/AC 2.24	Options 3/5yrs/10%	AHHI 5Mi $62,756

Josh Bishop

Matthews REIS

Contact

Lease Highlights

Brand new 2023 construction
Whataburger recently signed a brand new 15-year lease with 3 (5-year) options to extend
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Whataburger is strategically located along South Rangeline Road, the main retail corridor for the City of Joplin with access to 47,000 vehicles passing by daily. The corridor hosts several national retailers such as Chick Fil A, Discount Tire, and Valvoline. The 5-mile trade area is supported by a population of 53,922 residents, with an average household income of $62,756. Joplin is a city...

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Key Features

New construction
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Freeway close
Major MSA
Brand new lease
Long 15+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Whataburger Wikipedia Whataburger Wikipedia Joplin, Missouri Zip Code 64804 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Whataburger
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 :	6,120	43,756	69,170
2023 Total Population :	6,122	43,443	68,709
2023 Employed Civilian Pop :	3,062	20,463	32,846
2023 Total Businesses :	412	2,340	3,268
2023 Average Household Income :	$ 68,104	$ 66,557	$ 72,751
2023 Total Consumer Spending :	$ 174 M	$ 1084 M	$ 1830 M
2023 Median Age :	38	38	38
2023 Total Households :	2,918	18,617	28,794
2023 Pop Age 25+: Bachelor's Degree :	769	5,287	9,134
2023 Average Home Value :	$ 184,699	$ 183,546	$ 195,082

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S Range Line Rd	E 20th St	2009	28,520	0.04 mi
E 20th St	Arizona Ave	2018	7,176	0.14 mi
E 20th St	Geneva Ave	2012	11,045	0.16 mi
East 20th Street	Indiana Ave	2022	9,250	0.16 mi
S Range Line Rd	E 22nd St	2012	27,391	0.19 mi
S Range Line Rd	E 18th St	2014	32,033	0.21 mi
Geneva Avenue	E 24 St	2022	1,523	0.21 mi
South Range Line Road	E 14th St	2022	14,857	0.37 mi
E 15th St	Texas Ave	2009	7,575	0.42 mi
E 20th St	Rex Ave	2014	10,771	0.43 mi

Listing Broker

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