7601 S Staples St - Sports and Entertainment FOR SALE


Corpus Christi, TX 78413- South Side
$12,500,000 USD
480-221-4221
7601 S Staples St, Corpus Christi, TX for Sale
$12,500,000 USD
Sports and Entertainment - FOR SALE
1/9
null | 7.5% Cap Rate

7601 S Staples St
Corpus Christi, TX 78413
South Side


HIGHLIGHTS

  • 19+ Years Remaining | Scheduled Rental Increases | Options To Extend
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Saratoga Town Center (134,000+ SF) | Strong Population Growth |Primary Retail Corridor | Excellent Visibility & Access
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Alamo Drafthouse Cinema investment property located in Corpus Christi, Texas. The tenant, Reel Dinner Partners - Corpus Christi, LLC, has approximately 19 years remaining on its 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 3% annual rental increases throughout the initial term and increases of the greater of 3% or fair market value in the option periods, 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. Alamo Drafthouse’s goal is to deliver the best cinema experience in the world, accomplished through 4 main pillars: creative film programming, unique food and beverage offerings, innovation, and stable, consistent growth strategy. The company has over 35 locations throughout the country. After pandemic restrictions were lifted, Alamo Drafthouse recovered faster than any other theater brand. ADH continues to be a leader in the theater space. As an additional demonstration of commitment to the site, the tenant originally built these theaters, before selling them to a public REIT.

FOR SALE DETAILS

PRICE

$12,500,000 USD

PRICE/SF

$414 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Alamo Drafthouse | 19+yrs Abs NNN w/ Incrs

PROPERTY TYPE

Sports and Entertainment

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

301

LAND DETAILS

LAND ACRES

4.34 AC

LAND SF

189,050 SF

ZONING

CN-1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.