Listed by Colliers - Los Angeles - Orange County, California, Colliers - Memphis, Tennessee
$8,975,000
160 Hollywood Blvd
Details
APN 026765; 026764; 026294
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 62,916
Cap Rate 7.45%
NOI $668,168
Occupancy 100%
Tenancy Single
Brand/Tenant Academy Sports + Outdoors
Lease Type NNN
Lease Term 15
Lease Expiration 05/30/2032
Remaining Term 7
Acreage 6.840
Zoning C - Commercial
Parking Spaces 300 spaces
Parking Per SqFt 4.77
Investment Type Net Lease
Lease Commencement 05/14/2017
Academy Sports + Outdoors | 7.45% CAP | 62,916 SF
Marketing description
The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant net leased Academy Sports + Outdoors in Starkville, MS. Academy Sports (NASDAQ: ASO) is one of the largest sporting goods and outdoors stores in the country and operates nearly 300 locations. The net lease has over 7 years remaining in the primary term with three 5-year option periods, rent increases every 5 years and minimal landlord responsibilities providing passive income for years to come.
The 62,916 SF building on 6.84-acre parcel is positioned between
Walmart Supercenter and the 300,000 SF Starkville Crossing
Community Center creating strong retail synergies. Other nearby
retailers include Kroger, ALDI, PetSmart, Tractor Supply, Dollar
General, Dollar Tree, Bealls, McDonald’s, Popeyes, Zaxby’s and
more. The subject property is located along Mississippi Highway
12 W which sees over 9,300 VPD and is adjacent to Mississippi
Highway 25 which sees over 24,000 VPD. Additionally, Mississippi
State University is within 3 miles and has a student enrollment
exceeding 23,000.
This is an excellent opportunity to purchase a single tenant
Academy Sports + Outdoors in Mississippi with over 7 firm lease
years remaining, 15 years in option periods, rent increases and
limited landlord responsibilities creating inflation resistant cash
flows for years to come.
Investment highlights
- STNL Academy Sports + Outdoors
- Minimal Landlord Responsibilities Roof & Structure Only
- 3 Miles from Mississippi State University Enrollment Exceeding 23,000 Students
- Strong Demographics Over 38,000 Residents within a 5 Mile Radius
- Publicly Traded Company (NASDAQ: ASO) Market Cap Exceeding $3.5 Billion
- Inflation Resistant Cash Flows - $0.50 Rent Increases Every 5 Years
- 62,916 SF Building on 6.84 Acre Parcel Located on MS-12 W & MS-25 Over 24,000 VPD
- Average Household Income of Over $80,000 within a 5 Mile Radius
- One of the Nation’s Largest Sporting Goods & Outdoor Stores – 298 Locations
- Net Leased Investment Over 7 Years Remaining in Primary Term Three 5-Year Option Periods
- Positioned Between Walmart Supercenter & Lowe’s Anchored Starkville Crossing
- Nearby Retailers Include Kroger, ALDI, PetSmart, Tractor Supply, Dollar General, Dollar Tree, Bealls, McDonald’s, Popeyes, Zaxby’s & More
- Proven Long Term Corp Lease by Academy Sports (NASDAQ: ASO) - 7+ Yrs. plus Options
- Trophy High-Profile Site Surrounded by Walmart/Lowe’s/Kroger - near Miss St. University
- Strong Lease Guarantee - One of Nation’s Largest Sporting Goods/Outdoor Stores (298+)
- Large 6.84 Acre Parcel - Minimal LL Duties (Roof Warranty) - Big Parking Field - Strong Demo’s
- Affluent Growth Suburb and Home to Miss St. University - Huge Student Population Density
Listing Contacts
Listed by Colliers - Los Angeles - Orange County, California, Colliers - Memphis, Tennessee
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$668,168.00
$55,680.67/mo
Valuation Metrics
0
DSCR
7.44%
Cap Rate
7.44%
ROI
Map
Zoning
C CommercialGeneral CommercialCommercial
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