Hungry Pig 20 Year Sale-Leaseback
Long term lease gas station in trophy location inside of DFW, TX
Marketing description
Matthews is pleased to present the Valero-branded gas station and convenience store located at 4049 Boat Club Road in Lake Worth, Texas. This opportunity is strategically positioned within the fast-growing Dallas-Fort Worth Metroplex. The property benefits from excellent visibility along Boat Club Road, a high-traffic thoroughfare with over ±31,600 vehicles per day, and is conveniently located just ±10 miles northwest of downtown Fort Worth.
Situated on ±0.5 acres, the site features modern infrastructure with fuel tanks and pumps installed in 2023. A long-term fuel supply agreement with Brad Hall, in place through 2033, provides operational continuity and income stability. The property also offers easy access to major roadways and is surrounded by dense residential neighborhoods and growing commercial development, reinforcing long-term consumer demand.
Investment highlights
- Brand-New 20-Year Absolute NNN Sale-Leaseback: At close, the tenant will execute a fresh 20-year absolute NNN lease with zero landlord responsibilities, roof and structure are tenant obligations, delivering truly passive, management-free ownership of the fee simple interest.
- Attractive Going-In Yield with Built-In Growth: Priced at $2,100,000, a 6.50% cap rate on $136,500 in annual base rent, with contractual 10% rent escalations every 5 years.
- Three 5-Year Renewal Options: Options extend the potential lease term through Year 35, each carrying the same 10% escalation structure.
- Corporate Guarantee from a Growing Operator: The lease is guaranteed by Hungry Pig Supply Co., an expanding fuel and convenience operator on pace for $35M in revenue this year, providing institutional-quality credit support behind the income stream.
- 2023 Construction with Modern Fuel Infrastructure: Newly built convenience store with fuel tanks and pumps installed in 2023, minimizing near-term capital and environmental risk, a critical underwriting factor for gas station real estate.
- Hard-Corner Visibility on a High-Traffic Corridor: Positioned at the signalized intersection of Boat Club Road (±31,600 VPD) and Azle Avenue (±28,700 VPD), with combined exposure to ±60,300 vehicles per day, just ±10 miles northwest of Downtown Fort Worth.
- High-Growth Fort Worth Submarket: The 5-mile trade area holds ±177,400 residents projected to grow 4.54% over the next five years, with average household income of ±$108,900 — all within the Dallas–Fort Worth Metroplex, one of the fastest-growing metros in the U.S. (8.3M+ residents, 650,000+ added since 2020).
- Ideal 1031 / Passive Capital Profile: Long-duration, guaranteed, escalating income makes this asset well-suited for 1031 exchange buyers, family offices, and private investors seeking to replace active management with stabilized cash flow.
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