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Absolute NNN Leased Red Robin 3549 Catclaw Dr 6,675 SF Retail Building Abilene, TX 79606 $3,440,000 ($515.36/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- New 15 year absolute NNN lease
- Corporate guarantee
- Prime location within Abilene's main retail corridor
- Zero landlord obligations
- Tax free income state
- Outparcel to The Shops at Abilene
EXECUTIVE SUMMARY
The Kase Group is pleased to present the opportunity to purchase well
established Red Robin location in Abilene, Texas with a new 15 year absolute
NNN lease. The recently extended lease calls for zero landlord obligations
and is corporately guaranteed by Red Robin. There are 10% increases every 5
years throughout the initial term and options, and four 5-year renewal
options. The building sits outparcel to the Shops at Abilene, a dominant
regional power center anchored by Ross, PetSmart, Old Navy and TJ Maxx.
The asset benefits from nearby traffic counts of 21,838 VPD along Catclaw
Dr, 24,270 VPD along Southwest Dr and nearby U.S. Route 83, which carries
over 59,000 VPD. The location is 6 miles from Dyess Air Force Base and 10
miles from Downtown Abilene. Surrounding tenants include The Home Depot,
Walmart Super Center, Burlington, Dollar Tree, Five Below, Wendy's, Mattress
Firm, The UPS Store, Dollar General, Chick-fil-A, Denny's and more.
established Red Robin location in Abilene, Texas with a new 15 year absolute
NNN lease. The recently extended lease calls for zero landlord obligations
and is corporately guaranteed by Red Robin. There are 10% increases every 5
years throughout the initial term and options, and four 5-year renewal
options. The building sits outparcel to the Shops at Abilene, a dominant
regional power center anchored by Ross, PetSmart, Old Navy and TJ Maxx.
The asset benefits from nearby traffic counts of 21,838 VPD along Catclaw
Dr, 24,270 VPD along Southwest Dr and nearby U.S. Route 83, which carries
over 59,000 VPD. The location is 6 miles from Dyess Air Force Base and 10
miles from Downtown Abilene. Surrounding tenants include The Home Depot,
Walmart Super Center, Burlington, Dollar Tree, Five Below, Wendy's, Mattress
Firm, The UPS Store, Dollar General, Chick-fil-A, Denny's and more.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,675 SF
Building Class
B
Year Built
2005
Price
$3,440,000
Price Per SF
$515.36
Cap Rate
6.25%
NOI
$215,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.23 AC
Zoning
C-3
Parking
40 Spaces (5.99 Spaces per 1,000 SF Leased)
Frontage
257’ on Catclaw Dr
AMENITIES
- Pylon Sign
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 969241 | Improvements Assessment | $1,720,880 |
| Land Assessment | $562,120 | Total Assessment | $2,283,000 |
PROPERTY TAXES
Parcel Number
969241
Land Assessment
$562,120
Improvements Assessment
$1,720,880
Total Assessment
$2,283,000
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Absolute NNN Leased Red Robin | 3549 Catclaw Dr
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