Listed by Summit Real Estate
$5,500,000
Ace Hardware - Melissa, Texas
Details
Property Type Retail
Sub Type Convenience Store
Square Footage 15,468
Cap Rate 6.75%
NOI $371,232
Tenancy Single
Lease Type NN
Lease Term 10
Lease Expiration 10/31/2035
Remaining Term 9.4
Rent Bumps Yes
Lease Options 2 x 5
Class A
Year Built 2025
Acreage 1.510
Investment Type Net Lease
Lease Commencement 03/03/2026
Ground Lease No
5,000+ Locations Worldwide | Brand-New 10-Year Lease | New Construction
Marketing description
- New 10-Year Lease in Place | Lease Runs Through October 2035 | Features 10% Rent Increases Every Five Years | Includes Two (2) Five-Year Renewal Options
- 2025 Class “A” Retail Construction | Newly Developed Asset Featuring High-Quality Construction
- Strategic Frontage Along State Highway 5 | Located Directly Off McKinney Street in Melissa | Traffic Counts Exceed 40,000 Vehicles Per Day
- Rapidly Expanding Melissa Trade Area | Population Has Grown Approximately 14% Annually Since 2020 | Continued Strong Growth Projected Through 2029
- NN Lease Structure | Limited Landlord Responsibilities
- Below Replacement Cost Opportunity | Offered at Approximately $356 PSF | Attractive Basis Relative to New Class “A” Retail Construction Costs
- Affluent Surrounding Demographics | Average Household Income Within a 3-Mile Radius Exceeds $140,000 | Approximately 1.7x the National Average
- Located Within Established Retail Corridor | Nearby Retailers Include H-E-B, Kroger, Buc-ee’s, Walmart, Chick-fil-A, Texas Roadhouse, and Numerous Additional National Tenants
- Strong In-Place Income Stream | Approximately $371K NOI Supporting a 6.75% Cap Rate with Contractual Rental Increases Throughout the Lease Term
Listing Contacts
Listed by Summit Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$371,232.00
$30,936.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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