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2167 E Garrison St
Eagle Pass, TX 78852
Sherwin-Williams (5 Yr Option Exercised) · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Long Term Occupancy of 20+ Years – Sherwin Williams Has Extended on Three Separate Occasions, Most Recently Exercising a 5 Year Renewal in 2023
- Passive Double Net Lease Structure – Landlord Responsibilities Limited to Roof (Metal), Structure and Parking Lot
- Very Strong Performing Location – According to Placer.ai, the Subject Site Ranks in the Upper 89th Percentile Nationally for Customer Visits
- Inflation Hedge – Scheduled 10% Rental Increases at Each of Two 5-Year Options Remaining
EXECUTIVE SUMMARY
Marcus & Millichap is proud to offer fee simple ownership of the Sherwin Williams property located along East Garrison Street in Eagle Pass, TX. Sherwin Williams has continuously operated at this location for 20+ years and recently exercised a 5-year option with the scheduled rental increase. The lease expires September 30th, 2028, and offers 10% rent increases at each of the remaining two 5-year options. Operating on a passive double net lease structure, the landlord benefits from passive management and responsibilities limited to the metal roof, structural elements of the building and parking lot maintenance. The subject property ranks as one of the most trafficked Sherwin Williams locations nationwide, ranking in the upper 89th percentile for customer visits per Placer.ai.
The subject property is conveniently situated between South Bibb Avenue (27,034 VPD) and E Garrison Street (16,136 VPD) providing customers with easy access for those traveling North/South or East/West. Sherwin Williams sits in the main retail corridor of Eagle Pass, directly across from Mall de las Aguilas, which draws 2.5 million customer visits annually according to Placer.ai and is the epicenter of retail shopping for the region. Major retailers drawing consumer demand to the immediate trade area include H-E-B, Walmart, Kohl’s, Burlington, JC Penney, Hibbett Sports, Marshalls, Planet Fitness and Lowe’s.
The subject property is conveniently situated between South Bibb Avenue (27,034 VPD) and E Garrison Street (16,136 VPD) providing customers with easy access for those traveling North/South or East/West. Sherwin Williams sits in the main retail corridor of Eagle Pass, directly across from Mall de las Aguilas, which draws 2.5 million customer visits annually according to Placer.ai and is the epicenter of retail shopping for the region. Major retailers drawing consumer demand to the immediate trade area include H-E-B, Walmart, Kohl’s, Burlington, JC Penney, Hibbett Sports, Marshalls, Planet Fitness and Lowe’s.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,039 SF
Year Built
2003
Price
$1,646,000
Price Per SF
$233.84
Cap Rate
6%
NOI
$98,740
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.64 AC
Opportunity Zone
Yes
PROPERTY TAXES
| Parcel Number | 4945 | Improvements Assessment | $304,208 |
| Land Assessment | $335,592 | Total Assessment | $639,800 |
PROPERTY TAXES
Parcel Number
4945
Land Assessment
$335,592
Improvements Assessment
$304,208
Total Assessment
$639,800
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