Texarkana, TX - 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 Texarkana, Texas. The tenant currently has 10 years remaining 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 75+ 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 directly off of Interstate 30, a major thoroughfare that averages 70,000 vehicles passing by daily. The site is adjacent to the newly-constructed Wadley Regional Medical Center development which is set to be complete in 2025 and will encompass a 254,000 SF hospital (123 bed). The asset is also in close proximity to Center Mall, a 678,000 SF regional mall, that is anchored by Dillard’s, JCPenny, Hibbett Sports, and more. Other nearby national/credit tenants include Walmart Supercenter, Target, Lowe’s, Aldi, Sam’s Club, Kohl’s, Office Depot, 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 in close proximity to Texarkana College (3,800 students), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 66,000 and 47,000 residents, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property have an average household income of $77,600.