Investment Offering
Brenham, TX - Academy Sports
1041 Nolan St & Ryan St | Brenham, TX 77833
$10,256,000
Price6.75%
Cap Rate$692,303
NOI63,224
± SF Offering GLA5.97
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, Academy Sports investment property located in Brenham, Texas. The lease is corporate signed and the building recently opened for business. The tenant, Academy, LTD., recently signed a brand new 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features a $0.50 PSF rental increase every 5 years throughout the initial lease and at the beginning of each option period, 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 newly constructed building features a state-of-the-art design and high-quality materials.
Location
The Academy Sports + Outdoors is located along Market St, which averages 11,100 vehicles passing by daily and is a major retail thoroughfare serving the city of Brenham. The property is adjacent to U.S. Highway 290, a major east/west travelling thoroughfare averaging 37,500 VPD. The asset located within the new development Market Square Brenham, a 51-acre development that will feature 125,000 square feet of retail space and over 200 units of multi-family residential. In addition, Academy Sports + Outdoors is located a mile northeast of Bluebonnet Center, a 74,000 square foot shopping center anchored by King Dollar. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Dollar Tree, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the subject property. Additionally, the site will feature the only Academy Sports + Outdoors in a 30-mile radius, thus providing extremely limited competion in the area for the subject property. The 5-mile local trade area is supported by a population of over 22,700 with an average household income of $89,237.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215