Kwik Kar

1200 14th Street, Plano, TX 75074

$2,215,384

Cap Rate 6.50%

Views: 101 DOM: 227 Updated: 08.14.24 Posted: 02.02.24 Status: Active

Summary

Price $2,215,384	Built/Renov 1999	Tenant Kwik Kar
Cap Rate 6.50%	Lease Type Double NN	Guarantor Corporate
Size/SF 5,792	Lease Start 05-13-2022	#Units 350
Price/SF $382.49	Expiration 05-13-2032	Tenant Type Automotive
NOI $144,000	R. Term 7.8	Ownership Fee Simple
Rent/SF $24.86	Increases 2.0%/1/yrs	Pop 5Mi 13,510
Lot/AC 0.83	Options 3/5yrs/2%	AHHI 5Mi $64,619

Joshua Cohn

Venture Commercial

Contact

Lease Highlights

Kwik Kar has 8+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 2% annual rent increases throughout the initial term and each option period
Corporate guaranteed lease

Location Description

Kwik Kar is strategically located at the intersection of Municipal Avenue and 14th Street, with a combined daily traffic count of 31,883 vehicles. The property is surrounded by various residential complexes, including Link at Plano Apartments, Marada Plano Apartments, Bel Air Downtown Units, and others. The 5-mile trade area is supported by a population of 13,510 with an average household...

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Key Features

Signalized intersection
Hard corner intersection
Build to suit
Near major nationals
Strategically located
Top 100 MSA
Long operation history
Absolute NNN
Accelerated depreciation
Corporate Guarantee

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Links

Kwik Kar Wikipedia Plano, Texas Zip Code 75074 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Kwik Kar
Guarantor:Corporate
Company:FullSpeed Automotive
# Units:350
Stock:Private

About Tenant

Kwik Kar offers a complete package of auto repair services and specializes in full-service oil changes, scheduled maintenance, state inspections, and many other automotive repair services. Kwik...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,665	105,011	311,485
2023 Total Population :	10,359	103,047	306,911
2023 Employed Civilian Pop :	5,710	56,227	163,359
2023 Total Businesses :	1,968	5,999	13,609
2023 Average Household Income :	$ 80,687	$ 115,112	$ 122,459
2023 Total Consumer Spending :	$ 306 M	$ 4191 M	$ 12427 M
2023 Median Age :	32	38	38
2023 Total Households :	4,291	42,315	118,726
2023 Pop Age 25+: Bachelor's Degree :	1,267	23,406	73,871
2023 Average Home Value :	$ 301,139	$ 363,092	$ 390,739

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Municipal Ave	14th St	2009	10,300	0.06 mi
Municipal Ave	E 15th St	2012	13,674	0.14 mi
N Ave	13th St	2009	1,810	0.18 mi
K Ave	15th Pl	2012	15,326	0.21 mi
14th St	I Ave	2012	16,943	0.23 mi
N Ave	Precision Dr	2009	2,270	0.25 mi
E 15th St	J Ave	2012	15,833	0.25 mi
K Avenue	12th St	2020	8,356	0.26 mi
Municipal Ave	11th St	2012	11,444	0.29 mi
14th St	O Ave	2009	16,370	0.30 mi

Listing Broker

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