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7601 S Staples St - Alamo Drafthouse | 19+yrs Abs NNN w/ Incrs 30,192 SF Sports & Entertainment Building Offered at $14,974,034 CAD at a 9% Cap Rate in Corpus Christi, TX 78413
INVESTMENT HIGHLIGHTS
- 18+ Years Remaining | Scheduled Rental Increases | Options To Extend
- Saratoga Town Center (134,000+ SF) | Strong Population Growth |Primary Retail Corridor | Excellent Visibility & Access
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
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 18+ 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.
PROPERTY FACTS
| Price | $14,974,034 CAD | Building Class | B |
| Price Per SF | $495.96 CAD | Lot Size | 4.34 AC |
| Sale Type | Investment | Building Size | 30,192 SF |
| Cap Rate | 9% | No. Stories | 1 |
| Property Type | Sports & Entertainment | Year Built | 2016 |
| Property Subtype | Theater/Concert Hall | Parking Ratio | 9.97/1,000 SF |
| Zoning | CN-1 - Neighborhood Commercial | ||
| Price | $14,974,034 CAD |
| Price Per SF | $495.96 CAD |
| Sale Type | Investment |
| Cap Rate | 9% |
| Property Type | Sports & Entertainment |
| Property Subtype | Theater/Concert Hall |
| Building Class | B |
| Lot Size | 4.34 AC |
| Building Size | 30,192 SF |
| No. Stories | 1 |
| Year Built | 2016 |
| Parking Ratio | 9.97/1,000 SF |
| Zoning | CN-1 - Neighborhood Commercial |
AMENITIES
- Lounge
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PROPERTY TAXES
| Parcel Number | 536551 | Improvements Assessment | $6,839,298 CAD |
| Land Assessment | $1,333,539 CAD | Total Assessment | $8,172,838 CAD |
PROPERTY TAXES
Parcel Number
536551
Land Assessment
$1,333,539 CAD
Improvements Assessment
$6,839,298 CAD
Total Assessment
$8,172,838 CAD
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
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7601 S Staples St - Alamo Drafthouse | 19+yrs Abs NNN w/ Incrs
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