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Views: 79 Updated: 12.11.24 Posted: 06.19.24 Status: Inactive 12.11.24

Summary

Price $11,540,000
Built/Renov 2023
Tenant Tesla
Cap Rate 5.65%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 40,000
Lease Start 08-11-2023
#Units 1,208
Price/SF $288.50
Expiration 08-31-2033
Tenant Type Automotive
NOI $652,000
R. Term 8.8
Ownership Fee Simple
Rent/SF $16.30
Increases 10.0%/5/yrs
Pop 5Mi 314,089
Lot/AC 4.57
Options 2/5yrs/10%
AHHI 5Mi $90,126

Lease Highlights

  • New 2023 construction
  • Tesla has 9 years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Tesla Collision Center is strategically located on Laureate Drive, with access to a substantial daily traffic count of 181,087 vehicles. The property is near numerous automobile dealerships, including Ancira Chrysler Jeep Dodge Ram, Ancira Nissan (95,700 annual visits, top 10% location nationwide per Placer.ai), Ken Batchelor Cadillac (113,400 annual visits, #4 location nationwide), Porsche...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Tesla
  • Guarantor:Corp T and Rated
  • Company:Tesla, Inc
  • # Units:1,208
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • Stock: NASDAQ: TSLA

About Tenant

Tesla, Inc. is an American electric vehicle and clean energy company. They specialize in electric vehicle manufacturing, battery energy storage from home to grid-scale, and solar panel and solar...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 16,370 130,906 314,397
2024 Total Population : 15,581 129,694 314,247
2024 Employed Civilian Pop : 9,487 75,496 176,746
2024 Total Businesses : 843 5,794 14,087
2024 Average Household Income : $ 80,837 $ 89,713 $ 92,887
2024 Total Consumer Spending : $ 585 M $ 4764 M $ 11236 M
2024 Median Age : 33 34 35
2024 Total Households : 7,994 59,650 136,483
2024 Pop Age 25+: Bachelor's Degree : 3,433 26,105 59,177
2024 Average Home Value : $ 348,244 $ 346,798 $ 350,813
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Clarke Dr 2007 544 0.10 mi
I- 10 Access Rd Fredericksburg Rd 2007 26,461 0.16 mi
Prue Rd Laureate Dr 2015 6,758 0.18 mi
Network Blvd Gallaway Ct 2007 6,852 0.22 mi
Vantage Way Network Blvd 2010 3,960 0.23 mi
Southwell Rd Lockhill Rd 2014 2,878 0.26 mi
Fredericksburg Road I- 10 Access Rd 2022 19,889 0.29 mi
Fredericksburg Rd Huebner Rd 2011 32,340 0.36 mi
Huebner Rd Fredericksburg Rd 2005 47,830 0.39 mi
Huebner Rd 2021 11,879 0.39 mi

Listing Broker

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