Fort Smith, AR - Walk On's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Walk On’s investment property located in Fort Smith, Arkansas. The tenant has approximately 10 years remaining on their initial lease with 4 (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 absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. With nearly 80 restaurants in the U.S., Walk-On’s is accelerating its nationwide expansion – ranked #1 by Entrepreneur for Top New Franchise and consistently ranking in Top 500 lists for Restaurant Business, Entrepreneur, Franchise Times, and Nation’s Restaurant News.

The subject property is located along Phoenix Ave which averages 21,000 VPD. The site benefits from nearby direct on/off ramp access to Interstate 540, a major thoroughfare that averages 57,000 vehicles passing by daily. The asset is in close proximity to Fort Smith Pavilion, a 289,000+ SF regional shopping center, that is anchored by Target, Dick’s, Best Buy, Old Navy, Michael’s, and more. Other nearby national/credit tenants include Walmart Supercenter, McDonald’s, Starbucks, Jersey Mike’s, Home Depot, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the subject property is near Southside High School (2,035 students), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of 88,142 and 68,466 employees, providing a direct consumer base from which to draw. Residents within a 1-mile radius of the subject property boast an affluent average household income of $114,606.

---

Report Listing This listing was syndicated through:

Listing ID: a28TP000002gNThYAM