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Kwik Kar 134 E Ovilla Rd 4,092 SF Retail Building Red Oak, TX 75154 $3,364,439 ($822.20/SF) 6.15% Cap Rate
INVESTMENT HIGHLIGHTS
- Qualifies for bonus depreciation
- Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
- Long term ±17 year lease
- Dallas Metro (income tax free state)
- Absolute NNN lease (zero landlord responsibilities)
- Recession resistant business
EXECUTIVE SUMMARY
INVESTMENT HIGHLIGHTS
• Qualifies for bonus depreciation
• Dallas Metro (income tax free state)
• Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
• Absolute NNN lease (zero landlord responsibilities)
• Long term ±17 year lease
• Recession resistant business
TENANT HIGHLIGHTS
• Kwik Kar has been operating in the market since 1986
• Strong Corporate Guarantor: FullSpeed Automotive oversees ±900 owned and franchised units, generating $300 million in revenue
• FullSpeed Automotive is a subsidiary of MidOcean Partners, a private equity group that operates and invests in consumer and business services
• MidOcean Partners has $7 Billion of assets under management (www.midoceanpartners.com)
LOCATION HIGHLIGHTS
• Located in retail hub encircled by major brands, including Brookshire’s, KFC, Walgreens, CVS, Ace Hardware, Panda Express, Chick-fil-A, Burger King, McDonald’s, Dairy Queen, and Others.
• Outparcel to Walmart Supercenter featuring shared access with prominent national tenants: AutoZone, Dollar Tree, and Anytime Fitness.
• Frontage on Ovilla Rd, a major arterial with immediate access to the I-35 Freeway (±95,189 VPD)
• Red Oak is currently growing at a rate of 7.57% annually and its population has increased by 39.15% since 2020.
• Qualifies for bonus depreciation
• Dallas Metro (income tax free state)
• Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
• Absolute NNN lease (zero landlord responsibilities)
• Long term ±17 year lease
• Recession resistant business
TENANT HIGHLIGHTS
• Kwik Kar has been operating in the market since 1986
• Strong Corporate Guarantor: FullSpeed Automotive oversees ±900 owned and franchised units, generating $300 million in revenue
• FullSpeed Automotive is a subsidiary of MidOcean Partners, a private equity group that operates and invests in consumer and business services
• MidOcean Partners has $7 Billion of assets under management (www.midoceanpartners.com)
LOCATION HIGHLIGHTS
• Located in retail hub encircled by major brands, including Brookshire’s, KFC, Walgreens, CVS, Ace Hardware, Panda Express, Chick-fil-A, Burger King, McDonald’s, Dairy Queen, and Others.
• Outparcel to Walmart Supercenter featuring shared access with prominent national tenants: AutoZone, Dollar Tree, and Anytime Fitness.
• Frontage on Ovilla Rd, a major arterial with immediate access to the I-35 Freeway (±95,189 VPD)
• Red Oak is currently growing at a rate of 7.57% annually and its population has increased by 39.15% since 2020.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,092 SF
Building Class
B
Year Built
1998
Price
$3,364,439
Price Per SF
$822.20
Cap Rate
6.15%
NOI
$206,913
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.48 AC
Zoning
Commercial - Commercial
Parking
15 Spaces (3.67 Spaces per 1,000 SF Leased)
Frontage
121’ on East Ovilla Road
AMENITIES
- Signage
- Monument Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Kwik Kar
- Retailer
- 4,092 SF
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Kwik Kar | Retailer | 4,092 SF | - | Triple Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 200238 | Improvements Assessment | $547,416 |
| Land Assessment | $479,591 | Total Assessment | $1,027,007 |
PROPERTY TAXES
Parcel Number
200238
Land Assessment
$479,591
Improvements Assessment
$547,416
Total Assessment
$1,027,007
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Kwik Kar | 134 E Ovilla Rd
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