Academy Sports - Brownsville, TX_Property for Sale
Academy Sports - Brownsville, TX_Property for Sale
4305 Old Highway 77, Brownsville, TX, 78520, US

Academy Sports - Brownsville, TX

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 4305 Old Highway 77 in Brownsville, TX (“Property” or “Asset”).


The Property is operating on the first option period of a 20-year absolute NNN lease with ±3.2 years remaining. The Property benefits from a significantly below market rent of $7.29 PSF. The lease features three, five-year renewal options and rent escalations every 5-years at 95% of the fair market rental value of the premises (7% growth cap). Initially constructed as a build-to-suit for the Tenant in 2002, Academy has a proven commitment to the site with nearly 22 years of operating history.


Located in Brownsville, the southernmost city in Texas, Academy is within the largest city in the lower Rio Grande Valley. Brownsville functions as a vital trade center for the region, serving as a gateway between the U.S. and Mexico. The Property benefits from a regional trade area which extends into Mexico.

 

 

...

Attributes

Asking price
$7,420,000
Cap rate
6.6%
NOI
$490,000
WAULT
3.2 years
Building area net
67,180 sf
Land area gross
6.46 acres

Media

Investment highlights

  •  Absolute NNN lease with ±3.2 years of lease term remaining and zero landlord responsibilities
  • Proven commitment to the site with nearly 22 years of operating history
  • This location is in the top 11% of most visited Academy locations across the nation (Placer.ai)
  • Significantly below market rent of $7.29 PSF
  • Exposure to more than 126,000 VPD off Interstate 69E
  • Explosive 32% population growth since 2010 within a 1-mile radius
  • Adjacent to Morrison Crossing and Las Tiendas Plaza shopping centers with more than 8.6 million visits combined (Placer.ai)
Academy Sports - Brownsville, TX 4_Property for Sale
Academy Sports - Brownsville, TX 4_Property for Sale

Contact brokers

Academy Sports - Brownsville, TX (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? Visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. E-Mail us today to see how we can help achieve your ambitions.
Last updated
Nov 6, 2024