CAP Rate: 5.75%
Lot Size: 1.46 AC
Year Renovated: 2015
The Kase Group is pleased to present the rare opportunity to acquire an absolute nnn leased Twin Peaks located in Corpus Christi, Texas. The long-term lease features 10% increases every 5 years in the initial term and during the option terms with zero landlord responsibilities. The subject property is operated by Avalanche Food Group, the second largest Twin Peaks Franchisee in the country. The tenant has a long operating history at this location and has a healthy rent-to-sales ratio of 7%.
The subject property is a 8,905 SF Twin Peaks that was remodeled in 2015. The site benefits from over 151,000 cars per day and is strategically located in a major retail trade area. Nearby national retailers include Target, HEB, Marshall’s, Old Navy, and many others.
Corpus Christi is a Texas city on the Gulf of Mexico. It’s tucked into a bay and its beaches are sheltered by Padre and Mustang islands. The Padre Island National Seashore is home to migratory birds and endangered Kemp’s ridley sea turtles. The harborfront Texas State Aquarium has touch pools, an aquatic nursery and a shark exhibit. Nearby, a WWII aircraft carrier, USS Lexington, now houses a naval aviation museum.