Skip to main content

Restaurant

Whiskey Cake Kitchen + Bar

27800 I-45 North, Oak Ridge North (The Woodlands), TX 77385

Listing Price: $6,000,000

Cap Rate
6.00%
Tenant Name
Whiskey Cake Kitchen + Bar
Years Remaining On Lease
14.2
Guarantor
Corporate Guarantee
Rentable SF
8,651
Lease Type
Absolute Net
Rent Per Square Feet
$41.61

Investment Overview

The subject property, Whiskey Cake Kitchen + Bar, is a full-service casual dining restaurant and bar. It is located on IH-45 North (in Houston), across from the Woodlands, a large affluent master planned community which has been developed by the Howard Hughes Corporation. It is directly across the freeway from the Woodlands Mall, and trophy assets like the Alison Tower and the Anadarko Tower which are massive office and retail properties. The tenant, Whiskey Cake Woodlands LLC, is a Texas limited liability company. Whiskey Cake Holdings, LLC, a Texas limited liability company, is the guarantor and guarantees all obligations of the tenant. The lease commenced in 2020 and is absolute triple net with no landlord responsibility. The lease has a 15 year term with 10 percent rental escalations every five years. Tenant shall, at its sole cost, self-maintain its building and its premises. The building area is approximately 8,651 square feet. Minimum annual rent for the first five years is $360,000. There is also a percentage rent rate of 4% over a natural breakpoint. Within the first 60 days after the expiration of each calendar year, Tenant shall deliver to landlord a statement of gross sales for the preceding calendar year. Demographics for the area are very strong. Population within a three and five mile radius are approximately 60,000 and 158,000 respectively. Average Household Incomes within a three and five mile radius are $132,000 and $141,000 respectively.

Investment Highlights

  • Brand New 15 Year Lease | Absolute Triple-Net (NNN) | Zero Landlord Responsibilities
  • Trophy Asset In The Woodlands, Texas | Interstate 45 Frontage With Pylon Sign
  • Attractive Rent Increases | 10% Increases Every Five Years
  • Corporate Guarantee | Strong Operator | Over $134,000 AHHI Within One Mile

Exclusively Listed By

Listing Price: $6,000,000

Cap Rate
6.00%
Tenant Name
Whiskey Cake Kitchen + Bar
Years Remaining On Lease
14.2
Guarantor
Corporate Guarantee
Rentable SF
8,651
Lease Type
Absolute Net
Rent Per Square Feet
$41.61

Investment Highlights

  • Brand New 15 Year Lease | Absolute Triple-Net (NNN) | Zero Landlord Responsibilities
  • Trophy Asset In The Woodlands, Texas | Interstate 45 Frontage With Pylon Sign
  • Attractive Rent Increases | 10% Increases Every Five Years
  • Corporate Guarantee | Strong Operator | Over $134,000 AHHI Within One Mile

Investment Overview

The subject property, Whiskey Cake Kitchen + Bar, is a full-service casual dining restaurant and bar. It is located on IH-45 North (in Houston), across from the Woodlands, a large affluent master planned community which has been developed by the Howard Hughes Corporation. It is directly across the freeway from the Woodlands Mall, and trophy assets like the Alison Tower and the Anadarko Tower which are massive office and retail properties. The tenant, Whiskey Cake Woodlands LLC, is a Texas limited liability company. Whiskey Cake Holdings, LLC, a Texas limited liability company, is the guarantor and guarantees all obligations of the tenant. The lease commenced in 2020 and is absolute triple net with no landlord responsibility. The lease has a 15 year term with 10 percent rental escalations every five years. Tenant shall, at its sole cost, self-maintain its building and its premises. The building area is approximately 8,651 square feet. Minimum annual rent for the first five years is $360,000. There is also a percentage rent rate of 4% over a natural breakpoint. Within the first 60 days after the expiration of each calendar year, Tenant shall deliver to landlord a statement of gross sales for the preceding calendar year. Demographics for the area are very strong. Population within a three and five mile radius are approximately 60,000 and 158,000 respectively. Average Household Incomes within a three and five mile radius are $132,000 and $141,000 respectively.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower