Kwik Kar

1209 West McDermott Drive, Allen, TX 75013

$5,622,033

Cap Rate 5.85%

Views: 170 Updated: 03.27.24 Posted: 09.13.23 Status: Inactive 03.26.24

Summary

Price $5,622,033	Built/Renov 2000	Tenant Kwik Kar
Cap Rate 5.85%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 9,621	Lease Start 05-13-2022	#Units 350
Price/SF $584.35	Expiration 05-31-2042	Tenant Type Automotive
NOI $337,322	R. Term 17.6	Ownership Fee Simple
Rent/SF $34.18	Increases 2.0%/1/yrs	Pop 5Mi 333,886
Lot/AC 1.83	Options 4/5yrs/2%	AHHI 5Mi $151,179

Lease Highlights

Tenant has 18+ years remaining on their primary lease with 4 (5-year) options to extend
Lease features annual rent increases equal to the greater of 2% or CPI up to 6%
Absolute NNN lease I Zero landlord responsibilities
Corporate guaranteed lease
Income tax free state

Location Description

This Kwik Kar property is prominently positioned along McDermott Dr, a significant thoroughfare with high visibility that sees roughly 31,290 vehicles per day. It is also roughly 1 mile from Sam Johnson Highway (139,156 VPD). Located near a major retail hub, with national tenants including, Target, Hobby Lobby, Tom Thumb, Petco, Staples, and more, the site benefits from a strong consumer draw...

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Key Features

Build to suit
Near major nationals
Dense 200M+ pop 5 mi
Top 100 MSA
Affluent AHHI $100K 5 Mi
Income tax free state
Long 15+ yr lease
Absolute NNN
Annual rent increases
Corporate Guarantee

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Links

Kwik Kar Wikipedia Allen, Texas Zip Code 75013 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Grease Monkey International, LLC
Guarantor:Corporate
Company:MOP GM Holding, LLC
# Units:350
Stock:Private

About Tenant

Kwik Kar offers the 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 :	16,893	130,418	345,305
2023 Total Population :	15,899	124,639	333,886
2023 Employed Civilian Pop :	9,518	69,024	177,574
2023 Total Businesses :	651	4,037	9,356
2023 Average Household Income :	$ 172,461	$ 150,813	$ 151,179
2023 Total Consumer Spending :	$ 861 M	$ 5921 M	$ 15111 M
2023 Median Age :	35	36	37
2023 Total Households :	5,897	46,251	118,101
2023 Pop Age 25+: Bachelor's Degree :	4,441	29,558	84,156
2023 Average Home Value :	$ 507,368	$ 456,313	$ 450,040

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S Alma Dr	W McDermott Dr	2011	14,183	0.10 mi
W McDermott Dr	N Alma Dr	2011	29,565	0.20 mi
W McDermott Dr	Waters Crossing Dr	2011	32,893	0.30 mi
N Alma Dr	Rainforest Ln	2011	16,875	0.32 mi
W McDermott Dr	Waters Crossing Dr	2016	35,121	0.41 mi
West McDermott Drive	Waters Crossing Dr	2018	31,886	0.41 mi
W Bethany Dr	Claire Ln	2011	13,902	0.61 mi
W McDermott Dr	Watters Rd	2009	33,580	0.61 mi
Tatum Dr	Bel Air Dr	2004	960	0.64 mi
Bel Air Drive	Westwood Ct	2020	638	0.64 mi

Listing Broker

Shane Carter

Cushman & Wakefield

Contact

37 Listings
4537 Views
26 Sold

Chris Hollenbeck

Cushman & Wakefield

Contact

37 Listings
4546 Views
26 Sold

Shane Carter

Shane Carter is a member of a multi-service retail brokerage team in Phoenix, Arizona along with Chris Hollenbeck and Brent Mallonee. One of Arizona’s premier retail teams, they are able to assist clients with expertise in site acquisition, project development, project leasing and investment sales. Working in conjunction with his team, Shane has been able to provide prominent owners, users and developers with astute acquisition, disposition and market growth strategies. Since starting his comme

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Chris Hollenbeck

Mr. Hollenbeck is a member of a multi-service retail team that delivers comprehensive, integrated real estate services to retail investors, developers and occupiers. He specializes in Capital Markets and manages his team’s national Investment Services Portfolio. Mr. Hollenbeck has an extensive history in the sale of retail properties through his past and current career experience at a national development company. Since moving to commercial retail brokerage, he completed over 1,000 transactions

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