Available $3,250,892 - 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 ENTRANCE TO CRAIG RANCH
Positioned at entrance to Craig Ranch, a master-planned community with approximately 5,000 planned residences
- EXTREMELY AFFLUENT AREA
Affluent area with average household income in excess of $171,000
THE SUBJECT PROPERTY IS A 4,902 SQUARE FOOT QUIKTRIP LOCATED IN MCKINNEY, TEXAS. QUIKTRIP HAS LEASED THE PROPERTY FOR A 15 YEAR TERM WHICH COMMENCED IN 2008, LEAVING OVER TWO 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 along Custer Road, immediately north of the intersection with Highway 121, the subject property is positioned at the entrance to the master planned community of Craig Ranch with approximately 5,000 planned residences. Additionally, QuikTrip is adjacent to McKinney Towne Crossing, a 555,000 square foot power center anchored by Super Target, Lowe’s, Ross, PetSmart and many more. Located in the heart of a rapidly developing residential and commercial area, the site is directly in front of a 270 unit multi-family community built in 2018 and across from a newly developed Walmart Supercenter built in 2017.
The subject property is ideally situated at the intersection of the communities McKinney, Frisco, Plano and Allen, making it one of the most affluent rapidly developing corridors in the Dallas area. Average household income within a one mile radius of the subject property exceeds $171,000, a figure which is over twice the national average. This densely populated area is home to over 120,000 residents within a three mile radius and over 342,000 within a five mile radius.
- Price: $3,250,892
- Cap Rate: 6.50%
- Lease Term: 2.25 Year Remaining
- Building Size: 4,902 SF
- Lot Size: 1.55 Acres
- Status: Available