Colorado Springs, CO - Whataburger

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee (land ownership) in an absolute NNN, ground leased Whataburger investment property located in Colorado Springs, Colorado. The tenant, Whataburger has over 18 years of lease term remaining with 3 (10-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 10 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.

The Whataburger is located less than 1 mile from the intersection of Interstate 25 and Garden of the Gods Rd which combine to average over 209,200 vehicles passing by daily. Garden of the Gods Rd is a major retail thoroughfare serving the city of Colorado Springs. The Whataburger is adjacent to a Safeway anchored center that also features national/credit tenants including Walgreens, Starbucks, Ace Hardware, Einstein Bros. Bagels, Pizza Hut, and more. In addition, the Whataburger is located approximately 2 miles from University Village anchored by Lowe’s and Costco and features national/credit tenants such as Petco, BJ’s Brewhouse, Crumbl, Starbucks, Chipotle, and others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Sportsman’s Warehouse, Duluth, Chick-fil-A, Raising Cane’s, McDonald’s, Dutch Bros, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 161,000 residents and 116,500 employees with an average household income of $108,646.