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 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

View FullscreenMap

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

Contact

Photograph of Listing Agent

Justin P Langlois

Stirling Properties Baton Rouge Baton Rouge, LA 70809
LACDB Member
© Copyright 2001-2022 Catylist. All Rights Reserved. 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.