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Whataburger | 8+yrs Remain Corp Abs NNN 1702 19th St 2,229 SF Retail Building Lubbock, TX 79401 $2,895,000 ($1,298.79/SF) 5.22% Cap Rate
Investment Highlights
- 8+ Years Remaining | Options To Extend | Scheduled Rental Increases
- Near Texas Tech University (40,000+ Students) | Hard Corner Signalized Intersection | Dense Retail Corridor
- Absolute NNN | Fee Simple Ownership
- Strong Demographics In 5-Mile Trade Area
Executive Summary
• Corporate signed lease by Whataburger Restaurants, LLC
• Over 8 years remaining with 3 (5-year) option periods to extend
• The lease features 10% rental increases every 5 years and at the beginning of each option period, growing NOI and hedging against inflation
• Over 8 years remaining with 3 (5-year) option periods to extend
• The lease features 10% rental increases every 5 years and at the beginning of each option period, growing NOI and hedging against inflation
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,229 SF
Building Class
C
Year Built/Renovated
1979/2010
Price
$2,895,000
Price Per SF
$1,298.79
Cap Rate
5.22%
NOI
$151,219
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.77 AC
Zoning
General (MU-3)
Parking
18 Spaces (8.08 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Dedicated Turn Lane
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
- Monument Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Whataburger began in 1950 as a hamburger stand in Corpus Christi, Texas, and grew into a regional restaurant chain with roots in Texas and a broad presence across the southern United States. The company focuses on made-to-order burgers, breakfast items, chicken sandwiches, fries, shakes, and other customizable menu items, with many restaurants offering around-the-clock service. Whataburger also extends the brand beyond restaurants through grocery products and an official online store that sells branded merchandise and food items.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R135437 | Improvements Assessment | $212,636 |
| Land Assessment | $103,680 | Total Assessment | $316,316 |
Property Taxes
Parcel Number
R135437
Land Assessment
$103,680
Improvements Assessment
$212,636
Total Assessment
$316,316
Contacts
-
Patrick Luther -
Matthew Mousavi -
Patrick Nutt -
Webb Sellers -
SRS National Net Lease
1 of 4
Videos
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Matterport 3D Tour
Photos
Street View
Street
Map
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Whataburger | 8+yrs Remain Corp Abs NNN | 1702 19th St
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