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Whataburger Ground Lease, Bridgeport, TX

Whataburger Ground Lease

Bridgeport, Texas

Price $2,250,000
Cap Rate 4.00%
NOI $90,000
Lease Term 15 years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 2,974 SF
Lot Size 1.01 Acres (44,000 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

15-YEAR ABSOLUTE NNN GROUND LEASE TO WHATABURGER
» Whataburger is an iconic Texas fast food restaurant chain with more than 893 locations across 14 states and 50,000 employees
» The iconic Texas chain was family-owned until 2019, when the owners sold a majority stake to a BDT Capital, a Chicago based investment company, specifically to enable the growth and expansion of Whataburger beyond the Lone Star State
» In 2021, Newsweek ranked Whataburger Number 2 for “Fast-Food Restaurant Chains” in its annual “America’s Best Customer Service” list
» 15-year absolute NNN ground lease to a strong corporate tenant
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management, ideal for an out-of-area investor

EXCELLENT LOCATION NEAR STRONG TRAFFIC DRIVERS
» Located on U.S. Route 380 with excellent visibility and access to 18,018 vehicles per day
» Adjacent to Brookshire’s Food and Pharmacy and situated across from Bridgeport Medical Lodge and Stagecoach Rehabilitation
» Near national tenants including, AutoZone, AT&T, Starbucks, McDonald’s, Arby’s, Taco Bell, The Community Bank, and many others
» Within walking distance to Hometown Executive Suites (57 rooms), La Quinta Inn & Suites by Wyndham (53 rooms), Econo Lodge Inn and Suites (32 rooms), and Greystone Inn
» Proximity to Lake Bridgeport, a popular recreational boating destination offering good freshwater fishing, playground, tent camping, 24 RV sites, and public restrooms/showers

PROMINENT LOCATION IN HIGH GROWTH MARKET NEAR SEVERAL LARGE EMPLOYERS
» Devon Energy Corporation is located close to the property employing over 200 people
» Near many single and multi-family developments including Estates of Bridgeport Apartments (56 units), Bridgewood Apartment Homes (39 units), and many others, providing a nearby customer base for the site
» 10,732 residents live within a five-mile radius, with an average annual income of $77,197 within one mile (projected to increase 12 percent by 2026)
» Gateway to two major Texas cities: Fort Worth (918,915 residents) and Dallas (the third-most populous city in Texas, 1.3 million residents)
» Beneficial proximity to several municipal airports and less than an hour from Dallas Fort Worth International (63.4 million travelers, $37 billion in economic impact on North Texas Region) and Fort Worth Meacham International Airport (928 employees)

NEW 2022 CONSTRUCTION IN INCOME TAX-FREE STATE
» 2022 high-quality construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue
» Texas has no state income tax, estate tax, or inheritance tax


Property Description

Whataburger is conveniently located on U.S. Route 380 with excellent visibility and access to 18,018 vehicles per day. The property is adjacent to Brookshire’s Food and Pharmacy and situated across from Bridgeport Medical Lodge and Stagecoach Rehabilitation. The site is near national tenants such as AutoZone, AT&T, Starbucks, McDonald’s, Arby’s, Taco Bell, The Community Bank, and many others. The property is within walking distance to Hometown Executive Suites (57 rooms), La Quinta Inn & Suites by Wyndham (53 rooms), Econo Lodge Inn and Suites (32 rooms), and the Greystone Inn. The site maintains proximity to Lake Bridgeport, a popular recreational boating destination offering good freshwater fishing, playground, tent camping, 24 RV sites, and public restrooms and showers.

The property is in a prominent location near many single and multi-family developments including Estates of Bridgeport Apartments (56 units), Bridgewood Apartment Homes (39 units), and many others, providing a nearby customer base for the site. Devon Energy Corporation has a large office close to the property employing over 200 people. The site maintains beneficial proximity to several municipal airports and is less than an hour from Dallas Fort Worth International (63.4 million travelers, $37 billion in economic impact on North Texas Region) and Fort Worth Meacham International Airport (928 employees). The property is also situated in an affluent residential community with 10,732 residents living within a five-mile radius with an average annual income of $77,197 within one mile. The average annual household income is projected to increase 12 percent by 2026, poising Whataburger and Bridgeport for concurrent growth. The location serves as a gateway to two major Texas cities: Fort Worth (918,915 residents) and Dallas (the third-most populous city in Texas, 1.3 million residents).

Contact Us About This Property


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