Strickland Brothers

3406 College Avenue, Snyder, TX 79549

$1,940,000

Cap Rate 6.70%

Views: 108 DOM: 197 Updated: 09.05.24 Posted: 05.08.24 Status: Active

Summary

Price $1,940,000	Built/Renov 1985/2022	Tenant Strickland Brothers
Cap Rate 6.70%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,141	Lease Start 06-28-2023	#Units 227
Price/SF $906.12	Expiration 06-30-2038	Tenant Type Automotive
NOI $130,000	R. Term 13.7	Ownership Fee Simple
Rent/SF $60.72	Increases 10.0%/5/yrs	Pop 5Mi 4,580
Lot/AC 0.67	Options 4/5yrs/10%	AHHI 5Mi $67,871

Lease Highlights

Strickland Brothers has 13+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Strong performing location | Speak with Agent for details
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Strickland Brothers is strategically located on College Avenue, with access to 10,500 vehicles passing by daily. The property is within walking distance of several key amenities, including Cogdell Memorial Hospital, Snyder High School, and Snyder Primary School. Additionally, it is within proximity to Walmart Supercenter, McDonald’s, Whataburger, Bealls, United Supermarkets, and more....

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Key Features

Recent renovation
Build to suit
Dense retail corridor
Near major nationals
Strategically located
Income tax free state
Absolute NNN
Accelerated depreciation
Limited competition
Corporate Guarantee

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Links

Strickland Brothers Wikipedia Snyder, Texas Zip Code 79549 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Strickland Brothers
Guarantor:Corporate
Company:Princeton Equity Group
# Units:227
Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change. It offers a list of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,427	12,093	13,165
2023 Total Population :	5,458	12,192	13,279
2023 Employed Civilian Pop :	2,058	4,314	4,659
2023 Total Businesses :	319	558	602
2023 Average Household Income :	$ 79,918	$ 76,329	$ 77,890
2023 Total Consumer Spending :	$ 138 M	$ 301 M	$ 335 M
2023 Median Age :	36	37	37
2023 Total Households :	1,985	4,499	4,899
2023 Pop Age 25+: Bachelor's Degree :	418	1,024	1,123
2023 Average Home Value :	$ 147,645	$ 149,947	$ 151,785

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
College Avenue	37th St	2022	10,283	0.21 mi
37th St	College Ave	2002	9,700	0.26 mi
College Ave	40th St	2002	15,400	0.35 mi
College Avenue	40th St	2022	12,876	0.41 mi
37th Street	Ave M	2022	10,350	0.50 mi
College Avenue	26th St	2022	6,039	0.58 mi
25th Street	College Ave	2022	5,349	0.61 mi
25th Street	Ave R	2022	5,523	0.62 mi
College Avenue	24th St	2022	5,637	0.65 mi
El Paso Avenue	Lamesa Hwy	2022	2,008	0.95 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
28469 Views
23 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
27461 Views
21 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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