6.75% going in — and 7.50% by December 2031 with all three leases still in place. Base rent rises from $254,228 to $282,622 on escalations that are already signed. No re-leasing, no renegotiation, no capital required to capture it. All three leases are triple-net and every dollar of operating expense is recovered — $133,588 in reimbursements against $133,588 in expenses — so net operating income equals base rent. The buyer's yield moves with the rent schedule, not the expense line. Weighted average lease term is 6.7 years. First expiration is December 2031; the other two run to July and September 2033. Each tenant holds two five-year options, and every option is priced above the final year of its base term — renewal continues the step rather than resetting to market. A national fast-casual anchor with 288 locations across 20 states, a Houston-area burger operator, and a full-service Thai restaurant peak at different hours, so the 36-space field turns over across the day instead of once. Drive-thru lane, three access points, fee simple, directly adjacent to Academy Sports + Outdoors. Download the Offering Memorandum for full financials, rent roll, and lease abstracts.