Listed by Oldham Goodwin Group Bryan / College Station, Oldham Goodwin Group
$2,571,500
Big O Tires | NNN Lease | 7.00% CAP
Details
APN 81956
Property Type Retail
Sub Type Auto Shop
Square Footage 7,336
Units 1
Cap Rate 7.00%
NOI $180,000
Occupancy 100%
Brand/Tenant Big O Tires
Lease Type NNN
Lease Term 10
Lease Expiration 12/31/2034
Remaining Term 8.6
Lease Options One (1), Ten (10) Year Extension
Year Built 1984
Year Renovated 2014
Buildings 1
Acreage 1.437
Zoning GC - General Commercial
Investment Type Net Lease
Lease Commencement 01/01/2025
Occupancy Date 01/01/2025
Ground Lease No
7,336 SF Retail on Texas Ave | 7.00% CAP
Marketing description
OLDHAM GOODWIN is pleased to present 2319 Texas Avenue South for your consideration. This 7,336 SF retail building in College Station, TX, is located in a high traffic corridor with direct visibility and exposure to nearly 51,000 cars per day on Texas Avenue. The property benefits from a new ten (10) year NNN lease with a strong franchisee of Big O Tires, an automotive service franchisor of 450+ locations. This franchisee has been in business for 15 years and operates 21 Big O Tires as well as an additional four Harley-Davidson dealerships.
Investment highlights
- Less than 2 miles from Texas A&M University
- Texas A&M University is the largest university in the state of Texas with over 79,000 students and more than 15,000 faculty and staff
- Located in College Stations primary retail corridor with a coveted Texas Avenue address
- Target, HEB, Hobby Lobby, Ross, and many other retailers in the immediate area
- Located near the heavily trafficked intersection of Harvey Mitchell Parkway (34,789 VPD) and Texas Avenue (32,798VPD)
- Large parcel allows excess parking and future expansion opportunity
- NNN Lease structure provides passive income to Landlord with little management responsibility
- One (1) additional Ten (10) year extension option
- Tenant maintains the site and building, including roof and HVAC
- Automotive Repair & Maintenance has a projected 10.1% CAGR through 2032 due to a growing average age of vehicles, more cars on the road, growing demand for preventative maintenance, advancements in technology leading to more complicated systems, among other factors
Listing Contacts
Listed by Oldham Goodwin Group Bryan / College Station, Oldham Goodwin Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$180,000.00
$15,000.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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