Carvana

5435 North Loop 1604 West Access Road, San Antonio, TX 78249

$7,467,000

Cap Rate 7.00%

Views: 119 DOM: 635 Updated: 08.06.24 Posted: 12.23.22 Status: Active

Summary

Price $7,467,000	Built/Renov 2016	Tenant Carvana
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 8,348	Lease Start 06-01-2018	#Units 40
Price/SF $894.47	Expiration 06-01-2038	Tenant Type Automotive
NOI $522,670	R. Term 13.8	Ownership Fee Simple
Rent/SF $62.61	Increases 1.8%/1/yrs	Pop 5Mi 198,497
Lot/AC 1.50	Options 2/10yrs/1.75%	AHHI 5Mi $113,065

Lease Highlights

Carvana has been operating at this location since 2016
Over 13 years of term remaining on current lease with 2 (10-year) options to extend
The lease features 1.75% annual rental increases throughout the initial term and option periods
Absolute NNN with zero landlord responsibilities
Corporate guarantee by Carvana Co. (NYSE: CVNA)

Location Description

Carvana is strategically located near the interchange of State Highway 1604 and Interstate 10, which supports a staggering 319,200 vehicles per day. The asset is located just over 1-mile south from The Rim, a 1.7 million square foot lifestyle center home to numerous notable tenants including Target, Lowes, Burlington, Hobby Lobby, Home Goods, Best Buy, Lifetime Fitness, Total Wine, and more....

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Key Features

Freeway close
Highway location
University college close
Dense 100M+ pop 5 mi
Top 100 MSA
Affluent AHHI $100K 5 Mi
Income tax free state
Absolute NNN
Annual rent increases
Publicly traded company

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Links

Carvana Wikipedia Carvana Wikipedia San Antonio, Texas Zip Code 78249 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Carvana
Guarantor:Corp T and Rated
Company:Carvana Co.
# Units:40
Tenant S&P: CCC
Moody’s: Caa3
Stock: NYSE: CVNA

About Tenant

Carvana (NYSE: CVNA) is the leading ecommerce platform for buying and selling used cars. As the fastest growing used automotive retailer in U.S. history, Carvana.com allows someone to purchase a...

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Demographics

	1 Miles	3 Miles	5 Miles
2027 Total Population :	3,494	66,225	200,914
2022 Total Population :	3,520	65,305	198,497
2022 Employed Civilian Pop :	2,066	35,727	106,216
2022 Total Businesses :	178	2,627	7,336
2022 Average Household Income :	$ 78,500	$ 103,472	$ 113,065
2022 Total Consumer Spending :	$ 138 M	$ 2495 M	$ 8061 M
2022 Median Age :	28	30	34
2022 Total Households :	2,058	28,130	83,394
2022 Pop Age 25+: Bachelor's Degree :	943	13,668	43,517
2022 Average Home Value :	$ 346,027	$ 340,504	$ 331,481

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Vance Jackson	Rustic	2011	3,186	0.26 mi
Vance Jackson Road	Vance Jackson	2020	128,984	0.26 mi
C W Anderson Loop	Tradesman	2013	124,669	0.32 mi
Vance Jackson Rd	Hwy 1604 Access Rd	2012	4,068	0.32 mi
State Hwy 1604 Access Rd	Tradesman	2012	6,194	0.37 mi
N Loop 1604 W	N Loop 1604 W Access Rd	2012	5,520	0.38 mi
Tradesman	Hwy 1604 Access Rd	2010	3,660	0.45 mi
Presidio Pkwy	Vance Jackson Rd	2011	939	0.45 mi
I- 10	Hwy 1604 Access Rd	2001	1,001	0.47 mi
Old Fredericksburg Rd	Hwy 1604 Access Rd	2005	169	0.53 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

347 Listings
31464 Views
131 Sold

Patrick Luther

SRS National Net Lease Group

Contact

398 Listings
34746 Views
160 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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