Listed by Stream Capital Partners
$17,750,000
Main Event, TruFit Athletic Club & Parry’s Pizza
Details
Property Type Retail
Sub Type Shopping Center, Storefront
Square Footage 104,106
Cap Rate 8.68%
NOI $1,539,847
Occupancy 100%
Tenancy Multi
Brand/Tenant Main Event, Athletic Club
Lease Type NNN
Year Built 1977
Year Renovated 2021
Acreage 11.440
Investment Type Stabilized
Tenant Credit Franchisee, Corporate Guarantee
Ground Lease No
Main Event Anchored Center | Out Parcel Development Opportunity | Attractive Yield
Marketing description
- High Volume Anchor: Main Event (Dave & Busters) anchors the property and has strong site level sales in excess of their percentage rent breakpoint.
- Passive Lease Structure: Main Event, TruFit Athletic Club, and Parry’s Pizza all have NNN lease structures with staggered expirations and upcoming rental escalations within two years.
Investment highlights
- Prime Retail Positioning: The asset is part of Sunrise Mall, a 740,000 SF regional mall with visibility and access along I-69E. I-69 has over 106,000 VPD and is the main thoroughfare connecting the US and Mexico.
- Future Value Add Opportunity: The parcel allows for an approximate 1.5 acre pad site, providing the landlord with future development upside.
- National Retail Corridor: Other national retailers in the area include Lowe’s, Hobby Lobby, Wells Fargo, Firestone, Whataburger, McDonalds, Starbucks, and more.
- Strong Local Population Growth: Brownsville is the largest city in the Rio Grande Valley and has projected 5 year population growth of 4% within 1 mile of the site.
- Growing Aerospace Industry: Space X’s Boca Chica launch site is 25 minutes from the site and will be used for the Starship launch vehicle.
Listing Contacts
Listed by Stream Capital Partners
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$1,539,847.00
$128,320.58/mo
Valuation Metrics
0
DSCR
8.68%
Cap Rate
8.68%
ROI
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