San Antonio, TX - Taco Cabana

Description:

SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land & building) in a corporate guaranteed, single tenant, absolute NNN leased, Taco Cabana investment property located in San Antonio, TX. The tenant, Texas Taco Cabana L.P., has approximately 11 years remaining in the initial term with 4 (5-year) option periods to extend. The lease features 1% annual rental increases, starting in Year 11, and continuing throughout the the initial term and options. The lease is absolute NNN with zero landlord responsibilities.

The subject site is located along Stone Oak Pkwy (37,700 VPD) near the signalized, hard corner intersection of Stone Oak Pkwy and Huebner Road (combined 55,300 VPD). Taco Cabana is also just 1.4 miles off of CW Anderson Loop (100,000 VPD). Nearby national/credit tenants include Target, Whole Foods, LA Fitness, Walgreens, and more. In addition, the asset is less than 1-mile from North Central Baptist Hospital (429 Beds), further increasing consumer traffic to the surrounding trade area. The 5-mile trade area is supported by a dense population of approximately 178,000 residents with an affluent average household income of $129,400.
The tenant, Texas Taco Cabana L.P. is a wholly owned company, backed by Fiesta Restaurant Group and publicly traded on the NASDAQ under the ticker symbol “FRGI”. As of December 31, 2017, Fiesta Restaurant Group owns and operates 166 Taco Cabana restaurants in Texas and 146 Pollo Tropical restaurants in the southeast United States. Taco Cabana has a 40 year operating history and a loyal customer base in Texas.

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