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Views: 98 Updated: 01.03.24 Posted: 10.24.23 Status: Inactive

Summary

Price $2,855,000
Built/Renov 1950/2023
Tenant SQRL
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,456
Lease Start 04-21-2023
#Units 139
Price/SF $826.10
Expiration 04-30-2043
Tenant Type Convenience/Gas
NOI $207,000
R. Term 18.5
Ownership Fee Simple
Rent/SF $59.90
Increases 2.0%/1/yrs
Pop 5Mi 5,895
Lot/AC 0.42
Options 4/5yrs/2%
AHHI 5Mi $65,726

Lease Highlights

  • Site is currently being remodeled as a SQRL fueling station and convenience store
  • Tenant recently signed a new 20-year absolute NNN lease with 4 (5-year) options to extend
  • The lease features rent increases of 2% annually
  • Huge tax benefits | Asset is eligible for accelerated and/or bonus depreciation | Consult tax professional for confirmation
  • Corporate guaranteed lease

Location Description

The subject property is strategically positioned, with excellent access and visibility, along Highway 59 which sees approximately 25,550 vehicles passing by daily. The site is currently being remodeled as a SQRL fueling station and convenience store which will further increase traffic to the property. It is adjacent to an Executive Inn & Suites and within close proximity to major retailers...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: SQRL
  • Guarantor:Corporate
  • Company:SQRL Holdings, LLC
  • # Units:139
  • Stock:Private

About Tenant

SQRL Fuel operates gas stations with coffee-shop-like convenience stores. Their brand focuses on being family friendly and environmentally conscious as well as offering high quality products,...


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Traffic

Collection Street Cross Street Year Traffic Vol Distance
Byrd Avenue State Loop 424 2021 1,720 0.05 mi
Lake Pool Rd 2021 1,116 0.08 mi
Lake Pool Rd 2021 29,669 0.08 mi
US Hwy 59 State Loop 424 2018 25,913 0.38 mi
TX 360 State Loop 424 2020 29,277 0.38 mi
Dean Rd 2021 27,933 0.68 mi
US 59 Frontage Road Karen St 2021 887 0.68 mi
Dean Rd 2021 1,614 0.69 mi
Farm-to-Market Road 222 Hoot Troha 2021 1,445 0.71 mi
Church Street Hwy 59 2021 2,560 0.75 mi

Listing Broker

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