Whataburger | Walmart Outparcel

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4150 Goodman Rd
Horn Lake (Memphis MSA), MS

Price: $1,990,000

Cap: 5.00%

NOI: $99,500

Building Size: 3,318 SF

Lot Size: 1.46 AC

Investment Highlights

14 YEAR CORPORATE WHATABURGER GROUND LEASE

• 3,751 SF Whataburger on 1.46 Acres located in Horn Lake, MS.

• The property is currently under construction and is scheduled to open in May 2024.

• Rent Commenced in March 2023. There 14 Years are remaining on a 15 year corporate guaranteed ground lease with Whataburger.

• There are 10% rental increases every 5 years in the initial term and each of the three, 5 year option periods.

• Absolute NNN Ground Lease. Tenant is responsible for all taxes, insurance, CAM, roof, and structure.

WALMART SUPERCENTER OUTPARCEL

• This Whataburger is located on Hwy 302 (28,000 VPD) and is an outparcel to a Walmart Supercenter.

• Other nearby national retailers include Kroger, ALDI, Walgreens, AutoZone, and more.

• 3 Miles from a dense retail pocket on Interstate 55 (68,000 VPD) with Target, Home Depot, Lowe’s Home Improvement, Best Buy, and more.

MEMPHIS MSA | 2ND MOST POPULOUS CITY IN TN

• Horn Lake is located in northwest Mississippi and is 20 minutes south of Memphis.

• Memphis is the second most populous city in the State of TN with a population of 650,618 and an MSA population of 1,348,260.

• The largest employer in Memphis is the multinational courier corporation FedEx, which maintains its global air hub at Memphis International Airport, making it the second-busiest cargo airport in the world.

• Located on the Mississippi River and intersected by five major freight railroads and two Interstate Highways, I-40 and I-55, Memphis is ideally located for commerce in the transportation and shipping industry.

• Founded in 1979 and based in Memphis, AutoZone is the largest aftermarket automotive parts store in America with 6,300 stores across the U.S., Mexico, and Brazil.

WHATABURGER | HIGHEST AVERAGE SALES PER STORE OF ALL BURGER QSRS

• #1 highest average sales per store of all burger fast food restaurants at $3.46M per store.

• Whataburger was founded in 1950 and is headquartered in San Antonio, TX.

• 945 locations across 16 states, has over 50,000 employees, and does over $3 Billion in System-wide sales annually.

• In 2019, private equity firm BDT Capital Partners, best known for taking ownership of Krispy Kremeand Panera Bread, acquired a majority interest in Whataburger. Since then, Whataburger has workedto grow its franchised locations into new markets more aggressively as well as re-design its outlets.

• In 2021, Newsweek ranked Whataburger #2 for “Fast-Food Restaurant Chains” in its annual“America’s Best Customer Service” List.

Don McMinn

678-808-2762 | EMAIL >

OFFERING MEMORANDUM

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