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Meineke Car Care 2972 FM 423 4,872 SF Retail Building Little Elm, TX 75068 $2,600,000 ($533.66/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 20-Year Absolute Triple Net Sale Leaseback Upon Close of Escrow
- Operated by PARC Auto, Which is Driven Brand Inc's Largest Meineke Franchisee in the Nation
- Attractive 10% Rental Increases
- #1 Meineke in Texas Top 3% Nationwide
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Meineke Car Care located at 2972 Farm to Market Road 423, Little Elm, TX 75068. The site consists of roughly 4,872 rentable square feet of building space on an estimated 1.04-acre parcel of land. This Meineke Car Care is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $156,000 and has scheduled increases of 10.00% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,872 SF
Building Class
B
Year Built
2014
Price
$2,600,000
Price Per SF
$533.66
Cap Rate
6%
NOI
$156,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.04 AC
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R648034 | Improvements Assessment | $918,988 |
| Land Assessment | $570,591 | Total Assessment | $1,489,579 |
PROPERTY TAXES
Parcel Number
R648034
Land Assessment
$570,591
Improvements Assessment
$918,988
Total Assessment
$1,489,579
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Meineke Car Care | 2972 FM 423
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