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1503 W Avenue M 8,600 SF Retail Building Temple, TX 76504 $1,252,000 ($145.58/SF) 5.75% Cap Rate
Investment Highlights
- 13+ Years Remaining | Scheduled Rental Increases Well Known & Established Brand | New Roof
- Hard Corner Intersection | Close to Interstate 35 | Close to Retails Centers & Hospital | Excellent Visibility & Access
- NN+ Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Local Demographics in 5-mile Trade Area
Executive Summary
• Over 8 years of primary lease term remaining
• The lease features a 5% rent increase at the beginning of Year 6
• Founded in 1925, Napa Auto Parts, a subsidiary of the Genuine Parts Company, is a leading provider of automotive parts and accessories
• The building recently had a new roof and parking installed
• There has been a Napa Auto Parts business at this location since 1974, reflecting a strong operating history
• The lease features a 5% rent increase at the beginning of Year 6
• Founded in 1925, Napa Auto Parts, a subsidiary of the Genuine Parts Company, is a leading provider of automotive parts and accessories
• The building recently had a new roof and parking installed
• There has been a Napa Auto Parts business at this location since 1974, reflecting a strong operating history
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,600 SF
Building Class
C
Year Built
1977
Price
$1,252,000
Price Per SF
$145.58
Cap Rate
5.75%
NOI
$72,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.44
Lot Size
0.45 AC
Zoning
T4 - Commercial
Parking
18 Spaces (2.09 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Pylon Sign
Moderately walkable
60/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 109593 | Improvements Assessment | $166,919 |
| Land Assessment | $63,570 | Total Assessment | $230,489 |
Property Taxes
Parcel Number
109593
Land Assessment
$63,570
Improvements Assessment
$166,919
Total Assessment
$230,489
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1503 W Avenue M
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