Listed by Greenway Investment Company
$6,850,000
Origin Bank - Southlake, TX
Details
Property Type Retail
Sub Type Bank
Square Footage 7,371
Cap Rate 5.59%
NOI $383,027
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 15.1
Lease Expiration 11/30/2037
Remaining Term 11.5
Rent Bumps Yes
Lease Options 2, 5 year options
Price per SqFt $929
Year Built 2004
Buildings 1
Acreage 1.980
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 11/09/2022
Occupancy Date 11/09/2022
Ground Lease No
Sale Condition 1031 exchange
Retail | 5.59% CAP | 7,371 SqFt
Marketing description
Hard corner location at most prominent intersection in Southlake - Carroll Road & Southlake Boulevard
Strong credit tenant - Origin Bank (NYSE: OBK) - BBB Credit Rating
NNN Lease
3% annual rental increase throughout the term. 12 years remaining.
Listing Contacts
Listed by Greenway Investment Company
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$383,027.00
$31,918.92/mo
Valuation Metrics
0
DSCR
5.59%
Cap Rate
5.59%
ROI
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