Overview

Description

SRS National Net Lease is pleased to offer the opportunity to acquire an absolute NNN ground leased, NobiliTea investment property located in Jacksonville, Texas. The tenant, Nobel Leaf Holdings, LLC recently signed a brand new 15 year lease with 3 (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. The property is equipped with a drive-thru, providing ease and convenience for customers. NobiliTea is a rapidly growing brand that has opened 19 locations recently throughout Texas, Oklahoma, Kansas, and Arkansas.

The NobiliTea is located at the signalized, hard corner intersection of US Hwy 69 and John St. US Hwy 69, is a major retail thoroughfare serving the city of Jacksonville. The asset is located less than 1 mile away from a Walmart Supercenter, a 593,739 square foot building. In addition, NobiliTea is also across from a 163,000 square foot shopping center with national tenants including H&R Block, Super Cuts, Little Caesar’s, and many more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Chick-fil-A, McDonald’s, Starbucks, Whataburger, CVS, Take 5, Sonic, KFC, Dairy Queen, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the property The subject property is in close proximity to UT Health - Jacksonville, an acute care hospital that has over 70 beds. The 5-mile trade area is supported by a population of over 19,000 with an average household income of $68,736.

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