Available $1,143,750 - Retail - Single Tenant
Investment Offering & Highlights
- Committed Tenant
Bealls has operated at this location for over 20 years
- Strong Historical Sales
Extremely low rent to sales ratio
- Recent Expansion
In 2014 Bealls expanded their footprint from 10,000 sq/ft to 16,684 sq/ft
- Rent Increases
Lease provides a 9.28% rent increase in year 11 of the firm term and approximate 8% increases between options
- New Roof
Significant capital improvements completed in 2017
- Excellent Exposure
Site is positioned along area’s main retail and traffic corridor in downtown Seminole
The subject property is a 16,684 square foot Bealls located in Seminole, Texas. The Tenant signed a corporate-backed 12-year NN lease which commenced in September of 2014, leaving approximately 10 years remaining on the initial lease term.
Bealls has a proven track record at this location for over 20 years. In 2014, the Tenant expanded their footprint by over 66% from their initial occupancy of 10,000 square feet. In addition to their expansion, Bealls invested significant funds into their buildout and agreed to sign a new 12 year lease at that time. The lease provides a 9.28% rent increase in year 11, as well as approximate 8% rent increases between each of the two, five-year renewal options.
The property is part of a street retail center that fronts US Highway 180, the area’s main retail corridor and east-west traffic thoroughfare. Other Tenants in the center include Ace Hardware and the City of Seminole. Other retailers in the area include Aaron’s, Hibbett Sports, O’Reilly Auto Parts,Tractor Supply Company, McDonald’s, and many others. The site is located at the signalized intersection of North Main Street and Avenue A (US Highway 180). Combined daily traffic counts at the intersection exceed 17,300 vehicles.
- Price: $1,143,750
- Cap Rate: 8.00%
- Lease Term: 10 Years
- Year Built: 1960
- Building Size: 16,684 SF
- Lot Size: .38 Acres
- Status: Available