San Antonio, TX - Dick's Sporting Goods

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, DICK’S Sporting Goods investment property located in San Antonio, Texas. The tenant, Dick’s Sporting Goods, Inc. recently signed a 5-year lease extension with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features $0.50/SF/YR rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The DICK’S Sporting Goods is located near the intersection of Interstate 35 and SW Military Dr which combine to average over 122,300 vehicles passing by daily.
SW Military Dr is a major retail thoroughfare serving the city of San Antonio. The DICK’S is a part of South Park Mall, a 783,000+ SF shopping mall, that also features national/credit tenants including Macy’s, JCPenney, Floor & Decor, Ulta Beauty, Starbucks, Verizon, and many others. The asset is located in close proximity to a Home Depot anchored center that includes other national/credit tenants such as Ross, Five Below, Chick-fil-A, IHOP, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Lowe’s, Academy, Sam’s Club, Target, H-E-B, Chipotle, Dutch Bros, and more, further increasing consumer traffic to the site. The asset is located in close proximity to South San Antonio High School, which has student population of over 1,600. The 5-mile trade area is supported by a population of over 226,000 residents and 77,600 employees with an average household income of $64,107.

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Listing ID: a28TP000002BlC9YAK