loader
Join Free
Views: 63 DOM: 267 Updated: 05.20.24 Posted: 09.19.23 Status: Active

Summary

Price $39,540,000
Built/Renov 2022
Tenant Topgolf
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 48,000
Lease Start 12-01-2022
#Units 98
Price/SF $823.75
Expiration 11-30-2042
Tenant Type Sport/Fitness
NOI $2,372,417
R. Term 18.5
Ownership Fee Simple
Rent/SF $50.40
Increases 10.0%/4/yrs
Pop 5Mi 126,698
Lot/AC 10.05
Options 4/5yrs/10%
AHHI 5Mi $80,916

Lease Highlights

  • Newly constructed 2022
  • Tenant has 19+ years remaining on their primary lease with 4 (5-year) options to extend
  • Lease features 10% rental increases every 5 years
  • Absolute NNN Lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Topgolf is conveniently located on Topgolf Way, with a daily traffic count of 41,400 vehicles. The subject property is also in close proximity to two major highways: I-26 (105,900 VPD), and I-526 (86,300 VPD). The immediate trade area is surrounded by well-known national credit tenants such as Chick-fil-A, Buffalo Wild Wings, Nike Factory Store, Sam's Club, Walmart Supercenter, and many more....

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Topgolf
  • Guarantor:Corp T and Rated
  • Company:Topgolf Calloway Brands
  • # Units:98
  • Tenant S&P: B+
  • Moody’s: B1
  • Stock: NYSE: MODG

About Tenant

Topgolf is a technology-enabled sports entertainment venue that features climate-controlled, outdoor hitting bays for year-round play, a chef-driven menu, hand-crafted cocktails, and music....


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,247 53,694 121,884
2023 Total Population : 6,625 51,162 116,697
2023 Employed Civilian Pop : 3,525 25,391 58,312
2023 Total Businesses : 693 3,242 5,669
2023 Average Household Income : $ 70,653 $ 66,974 $ 80,350
2023 Total Consumer Spending : $ 184 M $ 1232 M $ 3435 M
2023 Median Age : 35 36 36
2023 Total Households : 2,937 20,889 48,811
2023 Pop Age 25+: Bachelor's Degree : 981 6,204 18,120
2023 Average Home Value : $ 241,456 $ 282,079 $ 322,237
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Montague Avenue Mall Dr 2021 20,000 0.01 mi
Rich Street Rivers Ave 2021 250 0.13 mi
Mall Drive Lacross Rd 2021 4,800 0.21 mi
Rivers Ave Daley St 2005 26,600 0.38 mi
Rivers Avenue Fuller St 2021 31,800 0.49 mi
Goer Drive E Montague Ave 2021 1,800 0.49 mi
I- 26 I- 526 2018 105,900 0.50 mi
I 26 Centre Point Dr 2021 95,200 0.53 mi
S- 62 (E MONTAGUE AVE) TO L- 2811 (GAYNOR AV), L- 6963 Snipe St 2021 1,250 0.58 mi
Gaynor St Snipe St 2019 1,550 0.62 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

NEWSLETTER SIGN UP

Subscribe
my activity