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29384846
29384847

106 Cleburne Ave, Weatherford, TX 76086 For Sale

BB
TX 701472, OH BRK.200900214 (+21)
Bang Realty
JG
IL 471007006
The Boulder Group
RB
IL IL 471005983
The Boulder Group
JF
IL 475154756
The Boulder Group
Listed by Bang Realty, The Boulder Group
$4,513,600
174 days on market
Updated 45 days ago

Spec's

Details
Property Type Retail
Sub Type Storefront
Square Footage 8,624
Cap Rate 6.25%
NOI $282,100
Occupancy 100%
Tenancy Single
Brand/Tenant Spec's
Lease Type NN
Lease Expiration 09/30/2035
Remaining Term 9.2
Rent Bumps Yes
Lease Options Two 5-year
Price per SqFt $523
Year Built 2020
Acreage 1.280
Investment Type Net Lease

6.25% Cap Rate | Dallas MSA | 2020 Build

Marketing description

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Spec’s Wines, Spirits & Finer Foods located in Weatherford, Texas, within the Dallas-Fort Worth MSA. Spec’s Wines, Spirits & Finer Foods has been successfully operating from this location since construction was completed in 2020. They are operating on a long-term lease through September 2035. The lease features 10% rental increases during the primary term and 3% increases in each of the two five-year renewal options. Additionally, the property benefits from its location in Texas, an income tax–free state.

The 8,624 square-foot building is situated along TX-171, which sees more than 29,600 vehicles per day, and benefits from close proximity to Interstate 20 with traffic counts of approximately 65,000 vehicles per day. The property is within walking distance of Weatherford College, which enrolls roughly 7,300 students, and is near major traffic drivers including Medical City Weatherford (Hospital) and Weatherford High School (2,500 students) . The surrounding trade area features a strong lineup of national retailers such as Target, Best Buy, Lowe’s, The Home Depot, Walmart Supercenter, Tractor Supply Company, Goodwill, Ross, and HomeGoods. The five-mile radius boasts an average household income of approximately $103,000 and a population exceeding 42,000, further supported by nearby apartment communities including Mustang Ridge, College Park, and Oxford at Weatherford.

Spec’s Wines, Spirits & Finer Foods is a renowned Texas-based, family-owned retail chain founded in 1962 in Houston by Carroll B. “Spec” Jackson and his wife Carolynn Jackson, with the name derived from Jackson’s nickname referencing his spectacles. Starting as a small neighborhood liquor store focused on beer and spirits, the business expanded significantly under the second-generation leadership of daughter Lindy Rydman and her husband John Rydman, who introduced an extensive wine selection in 1974 and later added gourmet foods. Now in its third and fourth generations of family operation, Spec’s has grown into Texas’ largest locally owned liquor retailer, operating over 200 locations across the state.

Investment highlights

  • Positioned within the Dallas-Fort Worth MSA – Ranked #4 in the United States for population size

  • Income tax free state (Texas)

  • Over 9 years remain on the primary lease term

  • 10% rental escalations every five years

  • 2020 construction

  • Located along TX-171 (29,600 vehicles per day) & just off Interstate 20 (65,000 vehicles per day)

  • Walking distance from Weatherford College (7,300 students)

  • Nearby traffic draws include Medical City Weatherford and Weatherford High School

  • Surrounding national retailers – Target, Best Buy, Lowe’s, The Home Depot, Walmart Supercenter, Tractor Supply Company, Goodwill, Ross, & HomeGoods

  • Six-figure average household income within five miles ($103,000)

  • 42,000+ people live within a five-mile radius

  • Proximity to several apartment complexes including Mustang Ridge, College Park, and Oxford at Weatherford

Listing Contacts

BB
TX 701472, OH BRK.200900214 (+21)
Bang Realty
JG
IL 471007006
The Boulder Group
RB
IL IL 471005983
The Boulder Group
JF
IL 475154756
The Boulder Group
Listed by Bang Realty, The Boulder Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$282,100.00
$23,508.33/mo

Valuation Metrics

0
DSCR
6.25%
Cap Rate
6.25%
ROI

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Additional Information

Name
Brian Brockman
License
701472
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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