Whataburger - Hallsville, TX

602 W Main St
Hallsville , TX 75650-5336

Whataburger - Hallsville, TX - Retail for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in a Whataburger restaurant (the “Property” or “Asset”) located in Hallsville, TX. Whataburger is one of the nation’s most popular burger chains and has a devout fanbase across the southwest. The Asset is positioned along Hallsville’s primary thoroughfare with terrific visibility and access. Whataburger is currently subject to an absolute NNN lease with nine years of contractual term remaining. The lease calls for four, 5-year options with generous rental increases in each option. Whataburger is a highly desirable net lease tenant, boasting the second-highest average unit sales of any fast food or QSR banner nationwide (second only to Chick-fil-A). This Asset is no exception to Whataburger’s successful sales trends, operating at a sub-4.5% rent-to-sales ratio. Although Whataburger restaurants are typically franchised, the franchisee at this location was recently acquired by Whataburger corporate, enhancing the credit profile of the tenant and the long-term stability of the site. This Asset presents the opportunity to acquire a highly-sought restaurant Asset demonstrating successful operations and ideal lease fundamentals in a growing Texas market.

Investment Highlights



The Property possesses ideal net lease fundamentals, highlighted by an absolute NNN structure with zero landlord responsibilities, nine years of remaining primary term, and generous rental increases in each of the four, 5-year options to renew.


This location has recorded successful sales for a Whataburger location, and operates at a highly-desirable rent-to-sales ratio of less than 4.5%.


The tenant and franchisee, Emmanuel NOW Inc., was recently acquired by Whataburger Ventures, Inc., a corporate Whataburger entity. This acquisition demonstrates a corporate commitment to the location, and an implied increase in tenant creditworthiness.


Whataburger is one of the most desirable tenants in the net lease restaurant space, and records the second-highest average sales per location nationally among all QSR and fast-food banners.


Hallsville is a small but thriving market that is projected to grow by 5% in the coming five years. The Asset is located along the town’s primary retail thoroughfare, and the population within surrounding mile of the Asset swells by 15% during business hours. 


General
Property Type Retail
Property Subtype Single Tenant / Stand-alone
Tenure Type Sale / Purchase
Property Address 602 W Main St, Hallsville, TX 75650-5336
Land In Acres 0.82
Building Size 2,799  ft2
Financial
Price $1,200,000
Cap Rate 5.49%
Current NOI $65,820.00
Lease
Tenant's Name Emmanuel NOW Inc
Lease Type NNN
Annual Rent $65,820.00
Lease Expiration Date 12/31/2027
Remaining Term 8.8Yrs

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