Prattville, AL - Whataburger

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Whataburger investment property located in Prattville, Alabama. The tenant, Whataburger Restaurants, LLC recently signed a brand new 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The tenant has approximately 14.5 years remaining on the lease. 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 Whataburger is located near the signalized, hard corner intersection of State Hwy 14 and Exit 181 of Interstate 65. State Hwy 14 averages over 33,000 vehicles passing by daily, while Interstate 65 averages over 45,500 vehicles per day. State Hwy 14 is a major retail thoroughfare serving the city of Prattville. The Whataburger is located 2 miles north of High Point Town Center and Prattville Town Center, shopping centers complete with national/credit tenants including Target, Home Depot, Publix, Lowe’s, Bass Pro Shops, and many more. The subject property is also located less than 1.5 miles from a 217,000 square foot Walmart Supercenter, a Publix grocery store currently under construction, and The Fields at 17 Springs, a massive multi-sports complex including tennis courts, pickleball courts, indoor facilities, and outdoor fields. The property is in the center of a primary retail corridor with other nearby national/credit tenants including McDonald’s, Chick-fil-A, Cracker Barrel, Wendy’s and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 61,100 with an average household income of $82,261.