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Restaurant

Bubba's 33

7001 N Davis Hwy, Pensacola, FL 32504

Listing Price: $2,857,143

Cap Rate
5.25%
Tenant Name
Bubba's 33
Years Remaining On Lease
7.0
Guarantor
Corporate Guarantee
Rentable SF
8,000
Lease Type
Ground Lease
Rent Per Square Feet
$18.75

Investment Overview

* Absolute NNN Corporately Guaranteed Ground Lease with Bubba’s 33- Bubba’s 33 is a wholly-owned subsidiary of Texas Roadhouse, Inc. (NASDAQ: TXRH) with over 45 locations throughout the U.S. (Texas Roadhouse operates over 620 locations)
* Below market, conservative ground rent
* Original 10-year Lease that expires February 28, 2031- 10% increases every 5 years including the three, five-year option periods- next 10% increase occurs March 1, 2026
* Top Performing Location- One of the top Bubba’s 33 locations in the system per Placer.ai- reported to have over 600K visitors and ranks as the #7 location in the U.S. and #1 location in Florida
*Adjacent to a brand new (under construction) Jim 'N Nick's BBQ (also for sale- 15-year NNN Ground Lease)
* High profile, signalized, hard corner location and an outparcel to BJ’s, Academy Sports, Burlington, and JCPenney center that has over 3.74M annual visitors (per Placer.ai)
* High traffic location- over 60,000 cars/day at the signalized intersection- less than a mile off Interstate 110 that has over 81,000 cars/day
* Incredibly dense retail corridor- Near Cordova Mall (Dick’s/Best Buy/Belk- 6.7M annual visits) Tradewinds Shopping Center (HomeGoods/T.J.Maxx- 1.6M annual visits), Village Oaks (PetSmart/Bealls/Planet Fitness- 1.4M annual visits), Pensacola Square (Hobby Lobby/BigLots!/American Freight- 1.35M annual visits), Home Depot, Lowe’s, Sam’s Club, Target, Texas Roadhouse, Cheddar’s, and over 12 hotels (all within approx. 1 mile)
* Located near the Pensacola International Airport (over 2.4M passengers in 2022), Pensacola State College (6,750 students), and Pensacola Christian College (4,700 students)
* Pensacola is home to a Naval Air Station that employs nearly 16,000 military personnel, alongside more than 7,400 civilians
* Strong tourist destination area- in 2022 Pensacola had over 2.5M visitors creating an economic impact of approximately $2 Billion, with $1.3 Billion coming from direct spending by tourists- tourism supported over 22K jobs in the local economy and generated over $630M in salaries/wages
* Pensacola has recently been ranked in the Forbes Top 100 cities for cost of doing business (5.8% lower than the U.S. average)
* Top employers in the Pensacola region include: Navy Federal Credit Union (8,700), Baptist Health Care (5,400) Sacred Heart Health (4,800), and University of West Florida (2,400)
* Densely populated area- over 140,000 residents within a 5-mile radius
* 8,000 SF, all-brick construction with a covered patio

Investment Highlights

  • Absolute NNN Corporately Guaranteed Ground Lease with Bubba's 33- Bubba's 33 is a wholly-owned subsidiary of Texas Roadhouse, Inc.
  • Below market, conservative ground rent
  • Original 10-year Lease that expires February 28, 2031- 10% increases every 5 years including the three, five-year option periods- next 10% increase occurs March 1, 2026

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Listing Price: $2,857,143

Cap Rate
5.25%
Tenant Name
Bubba's 33
Years Remaining On Lease
7.0
Guarantor
Corporate Guarantee
Rentable SF
8,000
Lease Type
Ground Lease
Rent Per Square Feet
$18.75

Investment Highlights

  • Absolute NNN Corporately Guaranteed Ground Lease with Bubba's 33- Bubba's 33 is a wholly-owned subsidiary of Texas Roadhouse, Inc.
  • Below market, conservative ground rent
  • Original 10-year Lease that expires February 28, 2031- 10% increases every 5 years including the three, five-year option periods- next 10% increase occurs March 1, 2026

Investment Overview

* Absolute NNN Corporately Guaranteed Ground Lease with Bubba’s 33- Bubba’s 33 is a wholly-owned subsidiary of Texas Roadhouse, Inc. (NASDAQ: TXRH) with over 45 locations throughout the U.S. (Texas Roadhouse operates over 620 locations) * Below market, conservative ground rent * Original 10-year Lease that expires February 28, 2031- 10% increases every 5 years including the three, five-year option periods- next 10% increase occurs March 1, 2026 * Top Performing Location- One of the top Bubba’s 33 locations in the system per Placer.ai- reported to have over 600K visitors and ranks as the #7 location in the U.S. and #1 location in Florida *Adjacent to a brand new (under construction) Jim 'N Nick's BBQ (also for sale- 15-year NNN Ground Lease) * High profile, signalized, hard corner location and an outparcel to BJ’s, Academy Sports, Burlington, and JCPenney center that has over 3.74M annual visitors (per Placer.ai) * High traffic location- over 60,000 cars/day at the signalized intersection- less than a mile off Interstate 110 that has over 81,000 cars/day * Incredibly dense retail corridor- Near Cordova Mall (Dick’s/Best Buy/Belk- 6.7M annual visits) Tradewinds Shopping Center (HomeGoods/T.J.Maxx- 1.6M annual visits), Village Oaks (PetSmart/Bealls/Planet Fitness- 1.4M annual visits), Pensacola Square (Hobby Lobby/BigLots!/American Freight- 1.35M annual visits), Home Depot, Lowe’s, Sam’s Club, Target, Texas Roadhouse, Cheddar’s, and over 12 hotels (all within approx. 1 mile) * Located near the Pensacola International Airport (over 2.4M passengers in 2022), Pensacola State College (6,750 students), and Pensacola Christian College (4,700 students) * Pensacola is home to a Naval Air Station that employs nearly 16,000 military personnel, alongside more than 7,400 civilians * Strong tourist destination area- in 2022 Pensacola had over 2.5M visitors creating an economic impact of approximately $2 Billion, with $1.3 Billion coming from direct spending by tourists- tourism supported over 22K jobs in the local economy and generated over $630M in salaries/wages * Pensacola has recently been ranked in the Forbes Top 100 cities for cost of doing business (5.8% lower than the U.S. average) * Top employers in the Pensacola region include: Navy Federal Credit Union (8,700), Baptist Health Care (5,400) Sacred Heart Health (4,800), and University of West Florida (2,400) * Densely populated area- over 140,000 residents within a 5-mile radius * 8,000 SF, all-brick construction with a covered patio

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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