Catylist ID:
#30787841
Academy Sports + Outdoors - STNL Investment Opportunity
Retail-Commercial
for Sale
| Catylist Listing ID: | 30787841 |
| Property Subtypes: | Free-Standing Building |
| Building Size (RSF): | 62,963 SF |
| Sale Price: | $12,149,328 |
| Unit Price: | $192.96 PSF |
| In Opportunity Zone? | Yes |
| Property Use Type: | Net Leased Investment (NNN) |
| Building Name: | Academy Sports + Outdoors |
| Usable Size (USF): | 62,963 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 6.25% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 5/23/2022 |
Overview / Comments
|
Single-tenant net-leased Academy Sports + Outdoors available for sale on the Mississippi Gulf Coast. The property was constructed in 2015. There are nine (9) years remaining on the primary term with five, 5yr options to renew. Rental increases of $0.50 per square foot every five years during primary term and renewal options. The next rental increase occurs on March 1, 2026. This NNN leased asset provides fee simple ownership with limited landlord responsibilities. The opportunity is located in D'Iberville, Mississippi, and is part of the Gulfport/Biloxi MSA. Often called the “Riviera of the South,” Gulfport and Biloxi are connected by I-10 and Hwy. 90, welcoming visitors to their shores and historic sites. This area offers sunny beaches on barrier islands, fantastic fishing, and prime boating opportunities that are enriched by long-standing maritime traditions such as shrimping and boat building. Academy Sports in D'Iberville is surrounded by national tenants including Walmart Supercenter, Lowe’s Home Improvement, Target, Best Buy, Kohl's, Walgreens, Chick-fil-A, Hobby Lobby (under construction), and many more. Academy Sports + Outdoors is one of the nation's largest sporting goods and outdoor stores. Academy has grown to 259 stores across sixteen (16) contiguous states. The company's product assortment focuses on key categories of outdoor, apparel, footwear, and sports and recreation through both leading national brands and a portfolio of nineteen (19) private label brands, which go well beyond traditional sporting goods and apparel offerings. Sales reached $1+ billion in 2003, $2+ billion in 2007, $3+ billion in 2012, and $4+ billion in 2014. In fiscal 2020, sales exceeded $5.69 billion. - NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities - Nine (9) years of term remaining with five, (5yr) options to renew - Rental increases of $0.50 per square foot every five (5) years during the term and renewal options, increasing NOI and hedging against inflation. - The next rental increase is March 1, 2026 - Academy is a leading full-time sporting goods and outdoor recreation retailer currently operating over 259 stores across 16 states - Surrounded by national tenants including Walmart Supercenter, Lowe’s Home Improvement, Target, Best Buy, Kohl's, Walgreens, Chick-fil-A, and many more - Ideal for low-management investment looking for passive income |
Attachments & Media
Current Tenants
| Tenant Business Name | Academy Sports + Outdoors |
| Website URL | www.academy.com |
| Industry Type | Retail Trade |
| Is Renting? | Yes |
| SF of Space Occupied | 62,963 SF |
| Current Rent | $193 PSF (Annual) |
| Lease Expiration | 2/0028 |
| Options | Five (5-yr) options to renew |
Additional Details
| Nearest MSA: | Gulfport-Biloxi |
| County: | Harrison |
| Taxing Authority: | Harrison County |
| Tax ID/APN: | 1408E-01-001.020 |
| Retail Clientele: | General, Family, Business, Traveler, Tourist, Recreation, Casino |
| Property Located Between: | I-10 and Lamey Bridge Road |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Lamey Bridge Road |
| Tenancy: | Single Tenant |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Typical SF / Floor: | 62,936 SF |
| Property Condition: | Excellent |
| Roof Type: | Flat |
| Parking Type: | Surface |
| Sprinklers: | Wet |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Engineered System |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Land Ownership: | Fee Simple |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 1,280 | 28,380 | 68,904 |
| Median Age: | 38.57 | 33.79 | 35.74 |
| Households: | 473 | 11,255 | 26,861 |
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