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Exclusive Net-Lease Offering Memorandum

Texas 242 Conroe, TX 77385

  • 1,634 Square Feet
  • Retail
  • For Sale

Summary Description

Texas 242 & Harpers Trace Conroe, TX 77385 - Take 5 Oil - Exclusive Net Lease Offering Memorandum

Area Available: 1,634 Square Feet

Tenant Trade Name:

Take 5 Oil Change

Price:

$1,250,000

CAP Rate:

6.0%

NOI:

$75,000

Square Feet:

1,634 SF

Year Built:

2017

Lease Type:

Absolute NNN

Lease Term:

10 Years

Lease Commence:

Late Mid-May 2018

Rent Increases:

10% every 5 years

Options:

Four 5 year options

Features:

  • New 10 year corporate ground lease - commencing Mid-May 2018
  • Offered at a 6% CAP rate with 10% increases every 5 years including option periods
  • Strong guarantee from experienced operator - 189 locations in 12 states
  • High area income ddemographics with $89,232; $101,383; $127,573 AHI within a 1,3, and 5 mile radius respectively
  • Property benefits from explosive growth taking place in the Conroe area; Conroe was the fastest-growing large city in the United States between July 2015
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