Listed by Matthews
$3,895,400
Kwik Kar Oil Change & Auto Care
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 4,118
Cap Rate 6.00%
NOI $233,722
Occupancy 100%
Tenancy Single
Brand/Tenant Kwik Kar
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 05/31/2042
Remaining Term 15.9
Rent Bumps Yes
Lease Options Four, 5-Year Options
Price per SqFt $946
Broker Co-Op Yes
Class B
Year Built 1997
Year Renovated 2021
Buildings 1
Stories 1
Acreage 0.900
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/13/2022
Ground Lease No
Ownership Fee Simple
Sale Condition 1031 exchange
Absolute NNN Kwik Kar – 16+ Years, Corporate Guarantee, Prime Frisco Location
Investment highlights
- Long Term Lease: There are over 16 years remaining on the initial lease term, followed by four (4) additional 5-year options.
- Corporate Guarantee: The lease is guaranteed by MOP GM Holding, LLC, the parent entity of FullSpeed Automotive. FullSpeed oversees 900+ Grease Monkey®, SpeeDee®, and Kwik Kar® service centers nationwide and is backed by MidOcean Partners, a private equity firm with $11 Billion in assets under management.
- Income Tax Free State: The subject property is located in the state of Texas which is one of the 9 states in the US to offer no income tax.
- Annual Rental Increases: Rent increases annually at the greater of 2% or CPI (capped at 6%), providing a strong hedge against inflation throughout the base term and options.
- Passive Absolute NNN Lease: Zero landlord responsibilities. The tenant is responsible for all operating expenses, making this a truly hands off investment.
- High Traffic, Prime Location: The property benefits from excellent visibility on Preston Road (±50,883 VPD) with monument signage and is positioned less than 2.5 miles from Stonebriar Centre (±200-store mall). The site also benefits from being located less than a mile from Collin College Frisco Campus (8,500 students) and Lebanon Trail High School (2,100 students).
- Affluent Demographics: This asset caters to more than 328,000 residents with an average household income of over $171K within a 5-mile radius of the site.
- Bonus Depreciation: The property qualifies for accelerated depreciation, including bonus depreciation, offering investors significant tax advantages in the early years of ownership. These incentives enhance after-tax cash flow and improve overall investment returns, making this asset especially attractive for buyers seeking efficient tax treatment on real estate holdings. (Consult CPA)
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
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$--
Annual Cash Flow
$233,722.00
$19,476.83/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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