Listed by Woodring Commercial
$2,489,000
SEC of TX-121 & W. Russell Ave
Details
Property Type Retail
Sub Type Commercial
Cap Rate 8.50%
NOI $211,200
Occupancy 100%
Tenancy Multi
Brand/Tenant Wings Over Bonham, Satoshi Hibachi Grill & La Chiquilla
Lease Type NNN
Remaining Term 15
Year Built 2020
Buildings 2
Acreage 1.000
Retail | 8.50% CAP
Investment highlights
- Description: 2 Building Asset with 2 Drive-Thru’s
- Size: Approx. 5,100 SF on 1 Acre
- 2160 TX-121: 2,184 SF
- 1215-1219 Russell Ave: 2,916 SF
- Year Built: 2020
- NOI: $211,200
- Asking Price: $2,489,000
- Cap: 8.50%
- 100% Occupied to 3 Tenants: Wings Over Bonham, Satoshi Hibachi Grill, & La Chiquilla.
- Lease Type: NNN 20 year primary’s
- 15 years remaining on the leases with 10% bumps every 5 years and has 5 guarantors, tenants in place now are all subleases.
- Bonham is the largest city in Fannin County and is located less than a hour North of Dallas.
- Bonham is home to the natural 26 square mile Bois D’Arc Lake which adds tremendous growth to the County.
- There are a multitude of retailers and restaurants on the busy TX-121 corridor.
- The subject hard corner property is in close proximity to Walmart.
- Area Development right across TX-121 is a 617 acre mixed-use master plan with over 1,500 homes and multi-family development.
Listing Contacts
Listed by Woodring Commercial
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$211,200.00
$17,600.00/mo
Valuation Metrics
0
DSCR
8.49%
Cap Rate
8.49%
ROI
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