1815 Expressway 83 - Fast Food FOR SALE


Penitas, TX 78576
$2,408,000 USD
480-221-4221
1815 Expressway 83, Penitas, TX for Sale
$2,408,000 USD
Fast Food - FOR SALE
1/8
null | 6% Cap Rate

1815 Expressway 83
Penitas, TX 78576


HIGHLIGHTS

  • Brand New 20-Year Lease | New Construction | Scheduled Rental Increases
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Outparcel to Walmart Supercenter | Villas at Penitas Apartments |Developing Fast Food Area | Primary Retail Corridor
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Sonic investment property located in Penitas, Texas. The tenant, Crush TX, LLC recently signed a brand new 20-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases every 5 years throughout the lease and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The asset is scheduled to be completed and open in mid July.

FOR SALE DETAILS

PRICE

$2,408,000 USD

PRICE/SF

$1,963 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sonic | New 20yr Abs NNN | 2024 Construction

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

49

LAND DETAILS

LAND ACRES

1.05 AC

LAND SF

45,738 SF

ZONING

C-1

APN/PARCEL ID

M4165-02-000-0005-00

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.