Listed by SURMOUNT
$2,199,329
Sun Auto
Details
Property Type Retail
Sub Type Auto Shop
Square Footage 3,648
Cap Rate 5.50%
NOI $120,963
Occupancy 100%
Tenancy Single
Brand/Tenant Sun Auto Tire & Service (575+ Units)
Lease Type NNN
Lease Term 20
Lease Expiration 12/30/2040
Remaining Term 14.6
Rent Bumps Yes
Lease Options 4, 5-Year Options
Year Built 2002
Acreage 0.790
Investment Type Net Lease
Lease Commencement 12/14/2020
Ground Lease No
Ownership Fee Simple
About This Property
Marketing description
Surmount is pleased to present the exclusive listing for a Sun Auto located at 12380 Barker Cypress Road, Houston, TX 77429. The site consists of roughly 3,648 rentable square feet of building space on an estimated .79-acre parcel of land. Sun Auto is subject to a 20-year Triple Net (NNN) lease, which commenced 12/15/2020. The current annual rent is $120,963 and has scheduled increases of 2.00% Annually.
Investment highlights
- Exceptional Corporate Guarantee The Guarantor, Sun Auto Tire & Service, is a leading automotive repair service operator with over 575 units across several local and regional brands throughout the United States, providing investors with strong credit backing and long-term stability.
- Income Tax-Free State The property benefits from its location in Texas, an income tax–free state. Ownership of an asset in an income tax-free state can provide several benefits to landlords, providing greater inventive for investment. Discuss with a Certified Public Accountant for further details.
- Recession-Resistant Service Automotive repair businesses provide essential, routine vehicle maintenance that consumers prioritize regardless of economic conditions. This makes them highly resilient during downturns, ensuring steady demand and stable cash flow for investors.
- Growing Vehicle Base & Longer Ownership The average age of vehicles on the U.S. roads has reached an all-time high of over 12.5 years, as consumers hold their cars longer due to rising vehicle prices and financing costs. This trend, combined with increasing used-car ownership, is fueling sustained demand for routine automotive maintenance services, making Sun Auto businesses well-positioned for long-term stability and growth.
- Exceptional Traffic Counts with Visibility onto Barker Cypress Rd The subject property is positioned along Barker Cypress Rd, which sees average daily traffic counts exceeding 22,000 vehicles, providing the site with best-in-class visibility to an array of potential customers traveling this thoroughfare each day. Additionally, the site is located just off of US 290 HOV, a major roadway through Texas, with average daily traffic counts of ~120,000. The site is positioned with strong ingress and egress points, providing a smooth and seamless pit stop for customers in need of automotive services.
- Affluent & Dense Demographics The subject property sits within a community with strong, affluent demographics, featuring average household incomes exceeding $130K within a 1-mile radius, supporting steady demand for automotive maintenance and repair services. Additionally, the population count within 5-miles of the property exceeds 252,000 individuals, providing the site with ample opportunity to capture a large, recurring customer base.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$120,963.00
$10,080.25/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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