This Retail Property is Off-Market.

7523 West University Blvd
Odessa, TX 79764 ·

7,892 SF · Retail For Sale

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Family Dollar

Price N/A Occupancy 100%
Building Size 7,892 SF No. Stories 1
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Year Built 2003
Property Use Type Net Lease Investment with 9 years left on lease Lot Size 0.82 AC
Cap Rate 8.25%
Listing ID: 17870527 Date Created: 10/11/2012 Last Updated: 11/20/2012

Description

Family Dollar has operated a store at this Odessa location since 2003 and, in 2011, extended its corporate guaranteed NN lease early, through December 2021. 9 years remain on the base term and there are four five-year renewal options that include 10% rent bumps. Family Dollar is responsible for property taxes, insurance, utilities as well as interior and exterior maintenance items. The landlord is responsible for the roof, structure, foundation and parking lot.

Odessa is part of the Midland-Odessa MSA, which has a population greater than 266,000. This specific location on the West side of Odessa has a population base of more than 55,000 within 5 miles. And thanks to the area's healthy oil and gas industry, continued growth is expected as new permits are pulled for new housing and commercial development. West University Blvd is one of the city's heavily travelled secondary corridors and other retailers across the street include Autzone, Dollar General, Ace Hardware and Lowes Foods.

Highlights

  • Corporate Guaranteed NN Lease with 9 Years Remaining on the Base Term
  • Family Dollar Extended its Lease Early, Through 2021, Showing its Commitment to the Location
  • 10% Rent Increases in each of the 4 - 5 Year Option Periods
  • "BBB-" Credit Rating by Standard & Poor's; $9B+ Revenue (ttm)
  • Odessa's Economy Benefits from the Oil/Gas Industry; 4.3% Unemployment Rate

Research

7523 West University Blvd, Odessa, TX 79764 (Ector County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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