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EVO Entertainment 3200 Kyle Xing 69,986 SF Retail Building Kyle, TX 78640 $19,680,000 ($281.20/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- 8 Years Remaining | Options To Extend | Scheduled Rental Increases
- Dry River District | Kyle Crossing | Dense Retail Corridor
- Elevate Entertainment Group | Growing Brand
- NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
- Healthy Financial Performance | Personal Guarantor |Multiple Streams of Revenue
- Strong Demographics In The Immediate Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, EVO Entertainment investment property located in Kyle, Texas. The tenant, EVO Entertainment has approximately 8 years of initial term and 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor. The location features positive store level EBITDA and strong sales (Contact Agent for Details) and the lease is personally guaranteed by an operator with extensive experience in the entertainment industry.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
69,986 SF
Building Class
B
Year Built
2014
Price
$19,680,000
Price Per SF
$281.20
Cap Rate
7.50%
NOI
$1,476,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
12.20 AC
Zoning
RS
Parking
408 Spaces (5.83 Spaces per 1,000 SF Leased)
Frontage
738’ on Kyle Crossing
AMENITIES
- Dedicated Turn Lane
- Signage
- Monument Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R143304 | Improvements Assessment | $7,968,770 |
| Land Assessment | $8,109,650 | Total Assessment | $16,078,420 |
PROPERTY TAXES
Parcel Number
R143304
Land Assessment
$8,109,650
Improvements Assessment
$7,968,770
Total Assessment
$16,078,420
CONTACTS
-
Patrick Luther -
Matthew Mousavi -
Cathy Nabours -
Kyle Shaffer -
SRS National Net Lease
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EVO Entertainment | 3200 Kyle Xing
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