Hooters Absolute Corporate NNN Lease 6028 Heards Lane, Galveston, TX Cap Rate 5.6% Galveston (Celina, Texas, US ) Built

$3,750,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 9,926 sq. ft.
  • Development Level: Built
  • Lot Size: 1.69 acres
  • Year Built: 2017

Description

Hooters Absolute Corporate NNN Lease 6028 Heards Lane, Galveston, TX Cap Rate 5.6%

Cap Rate: 5.6%
NOI: $210,000
Cash-on-Cash: 5.6%
Pro Forma Cap Rate: 5.6%
Building Size: 9,926 sqft
Lot Area: 1.69 acres
Occupancy: 100%
Lease Type: Absolute Net
Tenancy: Single
Year Last Renovated: 2017
Gross Leaseable Area: 9926
Investment Strategy: Core Plus
Lease Expire Year: 04/30/2037

DESCRIPTION
In November 2017 Hooters opened the a new location in the popular coastal resort town of Galveston, Texas.​ The new Hooters was its 49th location in the Lone Star State.​ Overlooking the Offatts Bayou inlet, the restaurant offers guests front row seats to cheer on their favorite sports teams while enjoying Hooters original and smoked chicken wings.​
The newer 9,926-sqaure foot venue is conveniently located at 6028 Heards Lane in Galveston, and features an 852-square foot indoor/outdoor patio with bar, as well as a beautiful outdoor seating area on the water.​ In addition, themed tables and artist murals highlighting Galveston’s distinct beauty and connection to the water can be seen throughout the new location.​

As the 49th Hooters in the state, their waterfront Galveston location is a shining example of the long-established Hooters legacy right there in Texas.​ The contemporary Hooters of Galveston incorporates the latest design features that deliver the familiar, fun-loving persona of the Hooters brand.​ From a centrally located bar featuring 32 draught beers and a wide array of cocktails and craft beers to Hooters craveable menu options, including fresh entrée salads, a great lineup of hand-formed burgers, delicious seafood dishes and fan-favorite fried pickles, Hooters is the perfect destination for just about any occasion that calls for great food and fun.​

HIGHLIGHTS
• Trophy Waterfront location overlooking Offatts Bayou.
• Absolute Corporate NNN lease.
• Appx. 17 years remaining plus 4 five year options to renew.
• 8.5% rent increases every 5 years with next increase 5/1/2022.
• Complete corporate remodel with exterior and interior down to the studs.
• Large 9,926 s.f. building on 1.69 acres corner, signalized location.

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.