Spec's

12425 South Freeway, Burleson, TX 76028

$6,092,000

Cap Rate 6.50%

Views: 64 DOM: 86 Updated: 08.06.24 Posted: 06.14.24 Status: Active

Summary

Price $6,092,000	Built/Renov 2024	Tenant Spec's
Cap Rate 6.50%	Lease Type NN+	Guarantor Corporate
Size/SF 12,000	Lease Start 08-01-2024	#Units 200
Price/SF $507.67	Expiration 07-31-2039	Tenant Type General Retail
NOI $396,000	R. Term 14.11	Ownership Fee Simple
Rent/SF $33.00	Increases 10.0%/5/yrs	Pop 5Mi 156,410
Lot/AC 1.23	Options 3/5yrs/10%	AHHI 5Mi $98,927

Lease Highlights

Brand-new 2024 construction
Brand-new 15-year lease with 3 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

Spec’s is strategically located on South Fwy, with access to 6,600 vehicles passing by daily. The property is conveniently situated just off Interstate 35 (133,000 VPD) and Rendon Crowley Rd (33,300 VPD), which are the main commuter and retail thoroughfares. Additionally, it is near Southgate Marketplace, a mixed-use development, and is half a mile from McAlister Square and Gateway Station....

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Key Features

New construction
Hard corner intersection
Near major nationals
Freeway visibility
Top 100 MSA
Strong demographics
Income tax free state
Brand new lease
Long 15+ yr lease
Corporate Guarantee

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Links

Spec's Wikipedia Burleson, Texas Zip Code 76028 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Spec's
Guarantor:Corporate
Company:Spec’s Family Corp.
# Units:200
Stock:Private

About Tenant

Spec’s is a full service liquor store chain which carries thousands of wines, spirits, craft beers, gourmet foods and accessories. The deli also offers the finest in deli meats, pates, domestic...

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Listing Broker

Patrick Luther

SRS National Net Lease Group

Contact

393 Listings
32723 Views
160 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

343 Listings
29614 Views
131 Sold

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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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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