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Burger King3100 Boca Chica Blvd., Brownsville, TX 78521

OFFERING MEMORANDUM*Actual Photo

OFFERING MEMORANDUM*Actual Photo

TABLE OF CONTENTS

INVESTMENT OVERVIEW 01Property Overview

Regional Map

Local Map

Aerial Photo

FINANCIAL ANALYSIS 02Offering Summary

MARKET OVERVIEW 03Market Overview

SECTION

Burger King – Brownsville, TX

In Association with Brian Brockman, a licensed Texas real estate Broker (License # 701472)

Michael MatusikVice PresidentDirect | 714.874.4004Fax | [email protected]: CA 01888322www.primenetlease.com

Paul R MatusikPresidentDirect | 714.875.2400Fax | [email protected]: CA 01351021www.primenetlease.com

P R E S E N T E D B Y

Kum & Go – Grinnell, IA

3

INVESTMENT

OVERVIEW



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lPROPERTY OVERVIEW

PROPERTY OVERVIEW

PRICE: $1,930,000 CAP RATE: 6.53%

About The Investment

Prime Net Lease is pleased to exclusively offer this NNN lease Burger King located at 3100 Boca Chica Blvd, Brownsville, TX. The tenant just extended the lease, which now has 5 years 6 months remaining, there are four 5-year options in place that will increase the current rent by over 20%. Burger King is situated on a large 1.38-acre parcel on Boca Chica Blvd with over 41,000 vehicles passing by daily. Boca Chica Blvd. is the main retail corridor of Brownsville, drawing many residents to the area. Surrounding tenants include Walmart, Home Depot, Tractor Supply, CVS, Dollar General, and Advance Auto Parts.

Brownsville is a city in Cameron County in the U.S. state of Texas. It is located on the western Gulf Coast in South Texas, adjacent to the border with Matamoros, Mexico. The city covers 81.528 square miles (211.157 km2) and has a population of 183,299 as of 2017. It is the 131st-largest city in the United States and 16th-largest in Texas. It is part of the Brownsville–Matamoros conurbation, with a population of 1,136,995 people. The city is known for its year-round subtropical climate, deep-water seaport and Hispanic culture. The city has enjoyed enormous population growth over the last four decades and it will continue to outperform the rest of the State.

LEASE ABSTRACT

Tenant: Sun Holdings, Inc.

Lease Commencement: October 2002

Lease Expiration: June 2025

Rent Increases: 20% in next option

Type of Ownership: Fee Simple

No. of Tenant Locations: 1,000+

PROPERTY INFORMATION

Address 3100 Boca Chica Blvd

Offering Price $1,930,000

Price / SF $402.42

Cap Rate 6.53%

Net Operating Income $126,000

Year Built /Remodeled 1997/2016

Rentable Square Feet 4,796

Land Area 1.38 Acres

PROPERTY HIGHLIGHTS

5.5 Years Remaining! Recent 5-year extension!

Large increase due with 1st option!

Explosive Population Growth!

Excellent Location!

Excellent Retail Corridor (41,000 VPD)

Recently Remodeled Store!

Recent 5-year extension!

1,000+ Unit Franchisee!

ANNUALIZED OPERATING DATA

NNN Rent $126,000.00

Total Rent: $126,000


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PROPERTY PHOTOSPROPERTY PHOTOS


6


MAP


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ARIAL PHOTO


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ARIAL PHOTO


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LOCAL ARIAL MAP


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FINANCIAL

ANALYSIS

THE OFFERING ANNUALIZED OPERATING INFORMATION

Property Burger King INCOME

Property Address 3100 Boca Chica Blvd.Brownsville, TX

Net Operating Income $126,000

Price $1,930,000 RENT SCHEDULE HISTORY

Capitalization Rate 6.53% YEAR NNN RENT TOTAL RENT

Price/SF $402.42 June 2025* $159,881 159,881

PROPERTY DESCRIPTION

Year Built / Renovated 1997/2016

Gross Leasable Area 4,796

Zoning Retail

Type of Ownership Fee Simple

LEASE SUMMARY

Property Subtype Retail

Tenant Sun Holdings, Inc.

Rent Increases 20% in first option

Guarantor Franchise Guarantee

Lease Type Absolute NNN

Lease Commencement 10/01/2002

Lease Expiration 06/30/2025

Lease Term 20 year

Term Remaining on Lease (Years)

5.5 Years

Renewal Options 4- five-year options

Landlord Responsibility None

Tenant Responsibility NNN

Right of First Refusal Yes


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FINANCIAL ANALYSIS

OFFERING SUMMARY

MARKET

OVERVIEW


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MARKET OVERVIEW

▪ Brownsville is a city in Cameron County in the U.S. state of Texas. It is located on the western Gulf

Coast in South Texas, adjacent to the border with Matamoros, Mexico. The city covers 81.528 square miles

(211.157 km2) and has a population of 183,299 as of 2017. It is the 131st-largest city in the United States

and 16th-largest in Texas. It is part of the Brownsville–Matamoros conurbation, with a population of 1,136,995

people. The city is known for its year-round subtropical climate, deep-water seaport and Hispanic culture. The

city has enjoyed enormous population growth over the last four decades and it will continue to outperform the

rest of the State.

▪ The Port of Brownsville is a deepwater seaport in Brownsville, at the southernmost tip of Texas. Opened in

1936, the port is connected to the Gulf of Mexico by a 17-mile-long ship channel. With approximately

40,000 acres, the Port of Brownsville is also the largest land-owning public port authority in the nation..

▪ The University of Texas at Brownsville (abbreviated as UTB and formerly known as the University of

Texas at Brownsville and Texas Southmost College [UTB/TSC]) was an educational institution located

in Brownsville, Texas. The university was on the land once occupied by Fort Brown. It was a member of

the University of Texas System. The institution was formed from a 1991 partnership between the two-

year Texas Southmost College and University of Texas-Pan American at Brownsville. The partnership

ended in 2011 as UTB became a standalone University of Texas institution, and Texas Southmost College

returned to being an independent community college. UTB itself offered baccalaureate and graduate

degrees in liberal arts, sciences, education, business, and professional programs

▪ As of the census[ of 2010, there were 175,023 people, 49,871 households, and 41,047 families residing in

the city. The population density was 1,207.1 inhabitants per square mile (466.0/km2). There were 53,936

housing units at an average density of 372.0 per square mile (143.6/km2). The racial makeup of the city

was 88.0% White, 0.4% African American, 0.4% Native American, 0.7% Asian, 0.0% Pacific Islander,

9.1% from other races, and 1.5% from two or more races. Hispanic or Latino of any race were 93.2% of

the population.

▪ There were 38,174 households of which 50.1% had children under the age of 18 living with them, 59.3%

were married couples living together, 20.9% had a female householder with no husband present, 5.3%

had a male householder with no wife present, and 15.7% were non-families. 13.7% of all households were

made up of individuals and 6.7% had someone living alone who was 65 years of age or older. The

average household size was 3.62 and the average family size was 3.99.

In Association with Brian Brockman a Licensed Texas Real Estate Broker, License #701472

Michael MatusikVice PresidentDirect | 714.874.4004Fax | [email protected]: CA 01888322www.primenetlease.com

Paul R MatusikPresidentDirect | 714.875.2400Fax | [email protected]: CA 01351021www.primenetlease.com

P R E S E N T E D B Y

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