Hooters Tenant Overview
Updated: November 14, 2023
Pros
- Brand recognition
- Niche restaurant concept
Cons
- Theme can be off-putting
- Limited target audience
Tenant Description
Casual bar and restaurant known for their servers and wings.
Hooters restaurants are an interesting investment opportunity due to their strong brand recognition and loyal customer base. Best known for their waitresses and wings, Hooters has built a niche fanbase that has made it one of America’s most recognizable restaurant brands. Hooters leases are typically triple net, alleviating the owner of any landlord responsibilities. Hooters generally have a layout similar to other restaurant concepts, allowing the space to be easily backfilled if Hooters were to vacate.
Hooters started in Clearwater, FL on April 1, 1983 by a group of six businessmen who lacked faith in their own idea, and sold the rights to Hugh Connerty in 1984. Today, Hooters of America Inc., is owned by Chanticleer Holdings, LLC, and is the proud franchisor and operator of more than 420 restaurants in 42 states and 29 countries.
Average Cap Rate
6.46%
Trailing 12-month average
Average Property & Lease
| Average Sale Price |
$2,824,300 |
| NOI |
$177,540 |
| $/Square Foot |
$471- $628 |
| Building SF |
4,500 - 6,000 |
| Lot Size |
.8 - 1.5 Acres |
| Lease Term |
20 Years |
| Escalations |
Varies |
| Stock Symbol |
N/A |
Average Cap Rate Trend
Rates reflect year-over-year comparison
Recent Sales Comps
| Savannah, GA |
6.10% |
| Valdosta, GA |
6.86% |
| Topeka, KS |
7.40% |
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