Chick-fil-A - San Antonio, Texas
Northwest Loop 410 5550, San Antonio, TX, 78238, US
NZ$6,370,000 | 606 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in a freestanding Academy Sports + Outdoors located at 714 W Loop 1604 N in San Antonio, TX (“Property” or “Asset”).
The Property is operating on a 20-year absolute NNN lease with ±4.8 years remaining. The lease features four, five-year renewal options and rare 1.50% annual rent escalations. Initially constructed as a build-to-suit for the Tenant in 2009, Academy has a proven commitment to the site with more than 15 years of operating history.
Located in San Antonio, Academy is strategically positioned with frontage on Loop 1604, the longest loop in Texas. Academy Sports is within a dense retail corridor with major retailers surrounding that include Costco, Walmart, H-E-B, Kohl’s, LA Fitness, T.J. Maxx, and HomeGoods, among others.
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Attributes
Asking price
NZ$22,240,000
Cap rate
6.85%
NOI
NZ$1,523,000
WAULT
4.8 years
Building area net
7,990 m²
Land area gross
3.81 ha
Media
Investment Highlights
- Absolute NNN lease with ±4.8 years of lease term remaining with zero landlord responsibilities
- Rare 1.50% annual rent escalations
- Proven commitment to the site with more than 15 years of operating history
- Positioned with frontage on Loop 1604 with 78,000 VPD
- Adjacent to The Shoppes at Dove Creek which ranks in the top 1% of most visited shopping centers in the nation (Placer.ai)
- Dense residential area with 1,140+ immediate apartment units
- Explosive 51% population growth since 2010 within a 3-mile radius
- San Antonio is the 2nd largest city in Texas and the 7th largest in the country
Contact brokers
Academy Sports - San Antonio, TX (0 Properties)
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Last updated
6 Nov 2024
