Kyle, TX - EVO

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, EVO Entertainment investment property located in Kyle, Texas. The tenant, EVO Entertainment has approximately 8 years of initial term and 2 (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 NNN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor. The location features positive store level EBITDA and strong sales (Contact Agent for Details) and the lease is personally guaranteed by an operator with extensive experience in the entertainment industry.

The EVO Entertainment is located just off of Interstate 35, which sees an average of over 121,600 vehicles passing by daily. Interstate 35 is the major retail thoroughfare serving the city of Kyle. The EVO Entertainment is a part of the Dry River District, a Costco and Home Depot anchored center that also features national/credit tenants including Starbucks, Denny’s, Pollo Campero, Torchy’s Tacos, P. Terry’s, Aspen Dental, and more. In addition, the asset is also near Kyle Crossing, a Target and Kohl’s anchored center that also features Ross, Dollar Tree, McDonald’s, Chick-fil-A, Petco, Panda Express, Verizon, Five Guys, Bank of America. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Lowe’s, Walmart Supercenter, H-E-B, Academy, Dunkin’, Taco Bell, Whataburger, Dutch Bros, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 113,900 residents and 22,000 employees with an average household income of $121,916.