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Advance Auto Parts

404 N FM 492
 78574

$ 1,995,000

For Sale
Cap Rate: 6.38%
Size: 7,000 SF
Lot Size: 1.24 Acres

OFFERING MATERIALS

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Marketing Description

Situated on the corner lot of a signalized intersection, Advance Auto Parts in Palmview, Texas sees over 10,000 vehicles passing by the property each day. The tenant extended their lease early to provide an investor an additional ten years on the base term with three five-year options thereafter. The property benefits from activity generated by the myriad other retailers in the area such as H-E-B Grocery, Walgreens, Dairy Queen, Auto Zone, Dollar Tree, Peter Piper Pizza and Little Caesars Pizza. Offered for $1,995,000, this Property provides an investor the opportunity to acquire an investment yielding a 6.38 percent current CAP rate in a stable, growing market of south Texas.

 

Investment Highlights

  • Strong Population Density with over 117,500 Residents in a 5-Mile Radius
  • Hard Corner Location at Signalized Intersection
  • Lease Expires in 2028 (3) 5-Year Options
  • NNN Lease

Justin Miller

First Vice President Investments

(713) 452-4287
Justin.Miller@marcusmillichap.com

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