REDUCED!! NN Leased Urban Air Adventure Park

Retail-Commercial for Sale
Catylist Listing ID: 30580566
Property Subtypes: Free-Standing Building
Building Size (RSF): 31,800 SF
Gross Building Area: See Agent
Gross Land Area: 2.56 Acres
Sale Price: $6,254,000
Unit Price: $196.67 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 7.5%
Last Updated: 9/14/2020

Overview / Comments

Lease Structure: NN
Guarantor: Urban Air Franchisee
Ownership Type: Fee Simple
Net Operating Income: $469,050
Remaining Term: 9 Years & 6 Months
Rent Escalations: 7.00% Every 5 Year
Options: 2, 5 - Years
Year Built: 2019
Building Size: 31,800 SF
Land: 2.56 AC



Investment Highlights

BRAND NEW CONSTRUCTION WITH 10-YEAR LEASE
This investment features a new 10-year lease term with a built-in 7% rental increase in Year 5 of the base term. Additionally, there are rental escalations in the option periods. Rent increases provide an increasing return over the life of the investment.

INDUSTRY-LEADING TENANT
Urban Air is the leader in family entertainment with +/- 23 million guests each year and +/- 300 locations in the U. S. and abroad. Also, Urban Air was ranked the #1 Trampoline Park franchise by Entrepreneur Magazine in 2019 and was ranked #97 on the 2019 Franchise 500 list.

~28 SCHOOLS IN 10-MILE RADIUS
There are approximately 22 elementary and middle schools and 6 high schools within a 10-mile radius of the subject property. The combined total enrollment for these schools is +/- 15,000 students. This provides a built-in customer base for this Urban Air location.

SIGNIFICANT TENANT INVESTMENT
The all-in initial investment to open an Urban Air location is +/- $2,500,000. This level of investment portrays the franchisee’s overall confidence in the Urban Air brand and commitment to this location.

STRATEGIC LOCATION
Urban Air is strategically located in an attractive retail corridor just off Interstate 12, which has traffic counts of +/- 84,000 VPD. Surrounding tenants include Sam’s Club and Bass Pro Shops, both known for driving heavy traffic to their stores.

SUCCESSFUL MULTI-UNIT OPERATOR
Denham Springs UA, LLC now operates 4 Urban Air Adventure Park locations with +/- $10M invested in the Urban Air franchise. The other units are in Forth Worth, TX; Naperville, IL; and Newnan, GA. More information regarding the franchisee credit can be learned by contacting B+E.

SHELTERED FROM THE EFFECTS OF E-COMMERCE
Urban Air offers a product/service that can only be consumed on-site. Due to the experiential nature of Urban Air, this investment is well-sheltered from the negative effects of e-commerce.

ABOVE AVERAGE HOUSEHOLD INCOME
The population within a 10-mile radius of the subject property has an average household income of $64,279. The Baton Rouge average is $51,436 according to the U.S. Census Bureau. This Urban Air is positioned in a prime area to reach its target demographic.

Current Tenants

Tenant Business Name Urban Air Adventure Park
Website URL https://www.urbanairtrampolinepark.com/locations/louisiana/denha
Industry Type Arts, Entertainment, and Recreation
Is Renting? Yes

Additional Details

Nearest MSA: Baton Rouge
County: Livingston
Submarket/Township: 83
Tax ID/APN: 0099507A
Retail Clientele: General, Family, Traveler, Tourist, Recreation
Property Visibility: Excellent
Tenancy: Single Tenant
Property Condition: Excellent
Year Built: 2019

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,782 28,561 114,802
Median Age: 38.54 34.24 35.45
Households: 1,804 10,755 43,517

Contact

Photograph of Listing Agent

Will H Adams, IV

Property One Inc Baton Rouge Baton Rouge, LA 70816
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.