Available $3,178,016 - Retail - Single Tenant
Investment Offering & Highlights
- ABSOLUTE NNN LEASE STRUCTURE
Zero Landlord responsibilities for operating or capital expenses
- RENT INCREASES BETWEEN OPTIONS
Rent increases between each of the seven 5-year renewal options
- CORPORATE BACKED LEASE
Corporate guaranteed lease by QuikTrip Corporation, one of the nation’s largest privately held companies with annual revenues in excess of $11.4 billion
- POSITIONED AT SIGNALIZED INTERSECTION
Positioned at the signalized intersection of East State Highway 121 and E Main Street, the property experiences combined traffic counts in excess of 58,700 vehicles per day
- AFFLUENT AREA
Affluent area with average household income in excess of $110,000
THE SUBJECT PROPERTY IS A 5,313 SQUARE FOOT QUIKTRIP LOCATED IN LEWISVILLE, TEXAS. QUIKTRIP HAS LEASED THE PROPERTY FOR A 15 YEAR TERM WHICH COMMENCED IN 2011, LEAVING JUST UNDER SIX YEARS REMAINING ON THEIR INITIAL LEASE TERM. THERE ARE STRUCTURED RENT INCREASES BETWEEN EACH OF THE SEVEN 5-YEAR RENEWAL OPTIONS. THE LEASE IS ABSOLUTE NET PROVIDING FOR ZERO LANDLORD RESPONSIBILITIES.
QuikTrip is one of the nation’s leading convenience store operators, with approximately $11.4 billion in annual revenues which are generated from the over 850 locations they operate. These revenues place QuikTrip on the Forbes listing of largest privately held companies.
Located at the intersection of East State Highway 121 and East Main Street, the property features excellent access and exposure along two of the area’s main traffic corridors with combined daily traffic counts in excess of 58,700 vehicles per day. The City’s largest employer, Xerox, with over 820 employees locally, is positioned approximately two miles immediately south of the subject property. This affluent area boast an average household income in excess of $110,000, a figure which is over 46 percent above the national average. The surrounding community is densely populated area is home to over 96,800 residents within a three mile radius and over 211,000 residents within a five mile radius.
- Price: $3,178,016
- Cap Rate: 6.35%
- Lease Term: 5.75 Years
- Building Size: 5,313 SF
- Lot Size: 1.76 Acres
- Status: Available