Smoothie King (GL)

7710 Vista Parke Drive, Austin, TX 78726

$1,800,000

Cap Rate 5.00%

Updated: 08.29.23 Posted: 03.29.23 Status: Sold

Summary

Price $1,800,000	Built/Renov 2022	Tenant Smoothie King (GL)
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 1,530	Lease Start 09-02-2022	#Units 1,400
Price/SF $1,176.47	Expiration 09-01-2032	Tenant Type Fast Food/QSR
NOI $90,000	R. Term 7.4	Ownership Ground Lease
Rent/SF $58.82	Increases 10.0%/4/yrs	Pop 5Mi 109,849
Lot/AC 1.07	Options 4/5yrs/10%	AHHI 5Mi $170,823

Lease Highlights

New 2022 construction
Brand-new 10 year lease with 4 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the initial term and at each option period
Absolute NNN ground lease with zero landlord responsibilities
Corporate guarantee by SK USA, Inc.

Location Description

This newly constructed Smoothie King is located directly off North Farm to Market Road 620 (38,600 VPD), a primary north/south thoroughfare serving the affluent suburbs around Lake Travis. The site is strategically positioned as an outparcel to a new 27-acre, mixed-use, development known as The Center at Four Points. The project features a Staybridge Suites hotel, 125,000 SF of office space,...

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Key Features

New construction
Shopping Ctr out-parcel
Strong tenant synergy
Dense 100M+ pop 5 mi
Affluent AHHI $100K 5 Mi
New development zone
Income tax free state
Brand new lease
Absolute NNN
Corporate Guarantee

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Links

Smoothie King Wikipedia Smoothie King Wikipedia Austin, Texas Zip Code 78726 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Smoothie King (GL)
Guarantor:Corporate
Company:SK USA, Inc.
# Units:1,400
Stock:Private

About Tenant

Smoothie King Franchises Inc. (dba Smoothie King) is an American privately held smoothie chain that was founded in 1973. Each store also offers healthier retail product solutions in sports...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,983	26,276	103,404
2023 Total Population :	5,068	26,828	105,960
2023 Employed Civilian Pop :	3,205	15,730	57,681
2023 Total Businesses :	209	914	3,893
2023 Average Household Income :	$ 127,771	$ 173,380	$ 175,420
2023 Total Consumer Spending :	$ 250 M	$ 1655 M	$ 6115 M
2023 Median Age :	36	37	39
2023 Total Households :	2,323	11,385	41,368
2023 Pop Age 25+: Bachelor's Degree :	1,617	7,717	30,203
2023 Average Home Value :	$ 734,318	$ 753,432	$ 641,298

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Vista Parke Dr	Woodbay Parke Dr	2010	1,450	0.20 mi
Vista Parke Drive		2015	1,380	0.22 mi
Wilson Parke Ave	Vista Parke Dr	2008	2,349	0.28 mi
Wilson Parke Ave	Vista Parke Dr	2003	2,234	0.31 mi
Wilson Parke Ave	FM 620	2010	2,700	0.39 mi
Wilson Parke Avenue		2015	3,253	0.43 mi
FM 620	Four Points Dr	2003	28,000	0.44 mi
Four Points Drive		2015	11,551	0.55 mi
Bullick Hollow Rd	FM 620	2002	4,400	0.60 mi
Four Points Dr	FM 620	2005	9,310	0.62 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
70859 Views
170 Sold

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
77824 Views
202 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
47174 Views
116 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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