Listed by CP Partners
$5,713,000
Pickleball Kingdom
Details
Property Type Retail, Special Purpose
Sub Type Sports/Entertainment
Square Footage 35,316
Cap Rate 8.5%
NOI $485,595
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 10
Lease Expiration 03/31/2036
Rent Bumps Yes
Lease Options Three,5-year
Price per SqFt $162
Investment Type Net Lease
Lease Commencement 10/01/2025
Ground Lease No
Shadow Anchored by Target | High Net Worth Guarantors
Marketing description
A brand-new 10.5-year Pickleball Kingdom lease featuring 10% rental increases every 5 years throughout the base term and option periods. Subject property is located in North Aurora Towne Center – a 430,000+ SF power center drawing 1.9M annual visitors.
Investment highlights
- New 10.5-year lease featuring 10% rental increases every 5 years throughout the base term and options
- Well below replacement cost at $161/ft.
- Traffic counts in excess of 81,000 and strong draw from Target
- 1.9M annual visits and 42 minutes of average dwell time at the center
- Pickleball Kingdom has 68 locations in 26 states
- Very strong personal guarantors (multiple) in excess of $60M (ask Agent for more details)
- The $1.9B pickleball industry is projected to grow another 16%+ in 2026 demonstrating continued growth
Listing Contacts
Listed by CP Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$485,595.00
$40,466.25/mo
Valuation Metrics
0
DSCR
8.5%
Cap Rate
8.5%
ROI
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