Listed by CBRE - Houston Galleria
$9,295,000
Spec's Wine, Spirits & Finer Foods
Details
Property Type Retail
Sub Type Convenience Store, Storefront
Square Footage 16,000
Cap Rate 5.25%
NOI $488,000
Tenancy Single
Lease Type NN
Lease Expiration 09/01/2041
Remaining Term 15.1
Rent Bumps Yes
Lease Options Two (2) 5-year options
Year Built 2026
Acreage 2.000
Investment Type Net Lease
Lease Commencement 09/01/2026
Ground Lease No
McKinney, TX STNL | Affluent Dallas Suburb | 2026 Construction | Corporate 15-year Lease
Marketing description
CBRE's Net Lease Property Group, as exclusive advisor to Ownership, is pleased to present the opportunity to acquire a brand new, 100% fee-simple retail building leased to Spec's Wine, Spirits & Finer Foods ("Spec's"), a Texas family-owned liquor store chain with 220 locations and more than $2 billion in annual revenue, according to Market Watch Magazine. Spec's new 15-year lease is expected to commence in September 2026, allowing a new investor to capitalize on the entire lease term, which could potentially extend through 2051.
The newly constructed property is strategically positioned in McKinney, TX, a high-growth suburb located about 30 miles north of Downtown Dallas. The area within a 5-mile radius of Spec's is home to more than 329,000 residents, a 70.5% increase since 2010 and a 9.3% increase from 2020.
Investment highlights
- Brand new 15-year corporate lease with minimal landlord responsibilities (Tenant self maintains the Property).
- Rent is estimated to commence in September 2026, allowing a new investor to capitalize on the entire lease term.
- Lease features contractual rent increases of 10% every five years during initial term and two (2) 5-year renewal options which potentially extend the lease through 2051.
- Oversized 2 acre lot along one of the most heavily trafficked roads in Collin County.
- The Property is strategically positioned in to serve the nearly 329,000 residents within a 5-mile radius, as the nearest Spec's is located more than 6 miles away.
- Spec's is located adjacent to The Grove, a 735-acre phased master-planned community by Newland which is expected to have a total of 3,000 homes at completion.
- In April 2025, Creation Equity announced plans to establish Long Branch, a new 155-acre mixed-use district, with 80 acres slated for active development, that will unfold over the next decade and represents a landmark project for one of Texas' fastest-growing cities. The $1.3 billion development will be developed in four tracts, each contributing to a balanced mix of residential, commercial and hospitality uses.
- Located just north of the convergence of S Custer Rd and Silverado Trail, the Property features direct access and exposure to more than 46,000 VPD.
- Headquartered in Houston, TX Spec's is a family-owned liquor store chain known for offering the best selection of wines, spirits, beers, liquors, cigars and fine gourmet foods in Texas. The company offers a extensive selection of inventory, spanning more than 58,000 SKUs, while similar stores carry from 10,000-30,000 SKUs. Since its founding in 1962, Spec's has grown to more than 5,000 employees and 220 locations throughout the state, boasting more than $2 billion in annual revenue, according to Market Watch Magazine.
- The area within a 5-mile radius of the Property is home to approximately 329,000 residents earning an average household income exceeding $190,000 yearly and more than 67% have attained a bachelor's or more advanced degree. Similar to the DFW metro's explosive growth, the area is has experienced a 70.5% increase in population since 2010 and is expected to grow by an additional 7.0% over the next 5 years.
Listing Contacts
Listed by CBRE - Houston Galleria
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$488,000.00
$40,666.67/mo
Valuation Metrics
0
DSCR
5.25%
Cap Rate
5.25%
ROI
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