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Captain D’s Seafood, Burnet, TX

Captain D’s Seafood

Price $1,861,000
Cap Rate 5.75% return (8.68% average cap rate)
NOI $107,000*
Lease Term 20 years
Lease Type Absolute NNN, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increase every five (5) years
Year Built 2017
Building Size 2,023 SF
Lot Size 0.69 acres (30,056 SF)
Status Available
Lead Broker Information Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG-TERM ABSOLUTE NNN LEASE
» 20-year NNN lease with no landlord management, providing an ideal investment for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation
» Full-term personal guaranty with a net worth of over $25 million
» Captain D’s was recently ranked as one of the top 200 franchise concepts in Entrepreneur’s 2019 Franchise 500 list
» Located in an Opportunity Zone, providing both temporary and long-term tax deferrals for eligible investors

HIGH-TRAFFIC LOCATION IN RETAIL CORRIDOR
» Strategically located on U.S. Highway 281, with excellent visibility and access to 20,000 vehicles per day directly in front of the property
» U.S. Highway 281 serves as Burnet’s primary retail and transportation corridor
» U.S. Highway 281 is also a major south–north route within Texas and the Texas Hill Country, connecting Burnet to Marble Falls and the San Antonio metro area to the south
» Less than a mile from downtown Burnet’s shopping district

STRONG CUSTOMER BASE IN AREA
» Directly across from The YMCA of the Highland Lakes at Galloway-Hammond, a state-of-the-art recreational facility with two indoor pools, a large gym, a fitness center, outdoor sports fields, and a wide range of activities and programs
» The Y at Galloway-Hammond regularly hosts baseball tournaments that draw as many as 40 teams from the Austin and San Antonio metro areas and the Texas Hill Country
» Close to many of the region’s largest employers, including Seton Highland Lakes Hospital (311 employees), Stealth Products (149 employees), Entegris (140 employees), and H-E-B (115 employees)

NEW 2019 CONSTRUCTION
» 2019 construction featuring a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Features Captain D’s new beach-themed restaurant design
» New building, limiting near-term deferred maintenance or capital costs



Property Description

The property is strategically located on Water Street/U.S. Highway 281, with excellent visibility and access to 20,000 vehicles per day directly in front of the property. U.S. Highway 281, known as Water Street within Burnet, serves as the city’s primary retail and transportation corridor. U.S. Highway 281 is also a major south–north route within Texas and the Texas Hill Country, connecting Burnet to Marble Falls and the San Antonio metro area to the south. The property is less than a mile from downtown Burnet’s shopping district, which features a strong mix of local and national tenants, including well-known retailers like Walgreens, Bealls, McDonald’s, H-E-B, Domino’s Pizza, Dollar General, and Whataburger. Other notable tenants near the property include Taco Bell, Dairy Queen, Chicken Express, O’Reilly Auto Parts, Shell, and Comfort Inn & Suites. A Burger King is currently under construction directly adjacent to the property

The property is conveniently located directly across from The YMCA of the Highland Lakes at Galloway- Hammond, a state-of-the-art recreational facility with two indoor pools, a large gym, a fitness center, outdoor sports fields, an RV park, and a wide range of activities and programs. The center has several baseball fields, and Blue Diamond Tournaments, a baseball tournament organizer, operates five tournaments at the facility. The tournaments draw teams from San Antonio, San Angelo, Austin, and Taylor, among others, and many tournament teams stay in hotels in the Burnet area. Other important community amenities located near the property include the Burnet Municipal Airport and Delaware Springs Golf Course. The property is also close to many of the region’s largest employers, including Seton Highland Lakes Hospital (311 employees), Stealth Products (149 employees), Entegris (140 employees), and H-E-B (115 employees).

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