111 NE Avenue K
Andrews, TX 79714
Aaron's (Corporate) · Retail Property For Sale

Centrally located along the city' s primary corridor, Aaron' s demonstrated long-term commitment to this site by retrofitting this 12,000 SF building and later executing a new fifteen-year lease in 2010. Today there are now just under eight years of firm lease term remaining. Andrews is a city with an ideal consumer base for Aaron' s. The subject store finished 2010 as a Company Top Ten All-Star Store and earned the prestigious honor of being named the nation' s Best Overall Store of the Year (Source: Press Release from Aaron' s 2011 National Managers Meeting the last and most recent year this information was made publicly available). At that time (2010 Census), the population within a two-mile radius of the subject property was 12,078. Since then, the population within the same two-mile radius has ballooned to 15,369 (27.25% Growth Factor) and is further expected to grow another 20.74% to 18,557 by 2021. With ten percent rent increases every five years and a going-in cap rate of 7.51%, an incoming all-cash investor will see yield increase to 8.26% in 2020 while benefiting from the security and potential upside of below market rent that is currently just $3.27 per square foot.