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1300 SE 1st St
Mineral Wells, TX 76067
New Strickland Bros Oil | 15-Yr NNN | TX · Retail Property For Sale
Investment Highlights
- New, 15-year, absolute NNN lease | Zero Landlord responsibilities
- 10% rental increases every 5 years | Strong hedge against inflation | Average CAP of 7.22% over the remaining base lease term
- Direct access and excellent visibility from SE 1st St which sees ±21,240 VPD
- Corporate guaranty from a rapidly growing tenant | 200+ locations across 27 states and is contracted to grow to 242 locations by end of 2024
- Strickland Brothers enjoys a strong reputation in the marketplace and is the preferred oil change shop for Mineral Wells and the surrounding cities
- Asset is located in an income tax-free state
Property Facts
Property Type
Retail
Property Subtype
Building Size
4,800 SF
Building Class
C
Year Built/Renovated
1961/2023
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.50 AC
Property Taxes
| Parcel Number | 20004 | Improvements Assessment | $264,030 |
| Land Assessment | $585,970 | Total Assessment | $850,000 |
Property Taxes
Parcel Number
20004
Land Assessment
$585,970
Improvements Assessment
$264,030
Total Assessment
$850,000
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