Conway, AR - 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 Conway, Arkansas. The tenant has 12 years remaining on their current lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and option periods thereafter, 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 along E Dave Ward Dr which averages 14,800 VPD. The site benefits from nearby direct on/off ramp access to Interstate 40, a major thoroughfare that averages 62,000 vehicles passing by daily. The site is directly across from Lewis Crossing Shopping Center, a 441,000+ SF shopping center, anchored by Sam’s Club, Academy Sports, Ross, Aldi, and Ulta. Other nearby national/credit tenants include Target, Home Depot, Fedex, Starbucks, Kroger, Old Navy, Kohl’s, and more. The subject property is centered in a developing area that includes a $42 million dollar Clayton Homes project, Encore at Lewis Ranch (105 units), and a 92 unit proposed apartment complex, further increasing consumer traffic to the immediate trade area. Furthermore, the asset is close to Baptist Health Medical Center, a 120-bed regional hospital. The 5-mile trade area is supported by a population of over 68,000 and 40,000 employees. Residents within a 5-mile radius of the subject property have an average household income of $77,843.