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

Current Tenants

Tenant Business Name Academy Sports + Outdoors
Website URL
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

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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


Photograph of Listing Agent

Justin P Langlois

Stirling Properties Baton Rouge Baton Rouge, LA 70809
LACDB Member
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