Historical Retail Sale Listing - Goodyear - Corpus Christi, TX

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Goodyear - Corpus Christi, TX

7201 S. Padre Island Dr, Corpus Christi, TX 78412

N/A

6,453 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
6,453 SF
Property Type:
Retail
Property Sub-type:
Service/Gas Station
Additional Sub-types:
Street Retail
Vehicle Related
Retail Pad
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
7.50%
Occupancy:
100%
No. Stories:
1
Tenancy:
Single
Year Built:
2008
Listing ID
16048046
Last Updated
over 1 year ago

Highlights

  • Goodyear S & P Credit B+
  • $19 Billion Net Sales 2007
  • Population of 150,000 in a 5 Mile Radius
  • Located Highway 358 (65,000 VPD) and Rodd Field Rd (25,000 VPD)
  • Port of Corpus Christi-Strong Employment Demographics

Description

This offering if for a 2008 constructed Goodyear corporately guaranteed single tenant building. The lease is a triple net with landlord responsible for roof and structure only. There is a one year workmanship warranty in place from the developer and a 20 year roof warrantee in place. The term is a 12 year lease with 6 (5 Year) options to extend with 5% increases at those options.

This offering is located in Corpus Christi, Texas which is 2 hours southeast of the San Antonio MSA and is primarily known as a port town. With over 295,000 square feet of dock space, the Port of Corpus Christi is a main artery of transportation for ships and the local demographics reflect that. The parcel is located at the signalized intersection of South Padre Island (Highway 358) that has traffic counts over 65,000 cars per day and Rodd Field Road which has traffic counts exceeding 25,000 cars per day. South Padre Island serves as the main Highway through this MSA and is scattered with national tenants as they take advantage of the freeway signage. Demographics are healthy with the 5 mile population over 150,000 and the average household income being above the national average at $52,000 per year.

Map of 7201 S. Padre Island Dr, Corpus Christi, TX 78412 (Nueces County)

Research for 7201 S. Padre Island Dr, Corpus Christi, TX 78412 (Nueces County)

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Created 1/7/2009