- Single-tenant Bubba’s 33 investment opportunity, featuring a brand-new 15-year absolute triple-net (NNN) ground lease with 10% rental increases every 5 years.
- A Texas Roadhouse (NASDAQ: TXRH) brand, Bubba’s 33 was founded in 2013 and currently has ±49 locations. Outside of the Bubba’s 33 brand, Texas Roadhouse operates over 700 locations throughout the country. The lease is signed by the parent company, Texas Roadhouse, Inc.
- Bubba’s 33’s average unit volume is $6 million. Using the subject property as an example, the rent-to-sales ratio would be 2.83% (Source: Nation’s Restaurant News).
- The Property is located on a large ±75,321 SF (±1.73-Acres) parcel.
- The Property is located at a heavily traveled intersection with ±54,469 VPD and is just north of the I-10 Freeway with ±231,748 VPD (Source: ADOT, 2023).
- RED Development, in partnership with Globe Corp., is building GSQ, a 150-acre mixed-use development set to transform Goodyear as the city’s premier cultural hub featuring a variety of dining, retail, residential, office, hotel, and entertainment offerings. GSQ is located at the northwest corner of the intersection.
- The Property is located down the street from the new Goodyear Civic Square, which includes a state-of-the-art city hall, two-story library, and a two-acre community park for food trucks, fairs, concerts, and more.
- This location boasts strong demographics with an average household income of ±$139,200 in a 1-mile radius and a total population of ±91,079 in a 3-mile radius (Source: Esri).
- Goodyear is a hub for technology, manufacturing, and logistics. In the last few years, the city has welcomed 22 new manufacturing or logistics companies totaling 6.5M SF and creating 2,300 jobs in the local economy.
- Buc-ee’s, the world’s largest convenience store, recently acquired 24 acres on the southeast corner of Bullard Ave and Interstate 10 (±2 minutes from the Property) for $17,246,990. This site will feature a 74,000 square-foot convenience store with 120 fueling stations.
???????* The adjacent White Castle ground lease is also available for sale. These properties can be acquired separately or as a package.
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