23473 FM 39 - Restaurant FOR SALE


Iola, TX 77861
$575,000 USD
409-781-7734
23473 FM 39, Iola, TX for Sale
$575,000 USD
Restaurant - FOR SALE
1/25
null | 8.35% Cap Rate

23473 FM 39
Iola, TX 77861


HIGHLIGHTS

  • Brand new three (3) year lease with proven local operator.
  • Absolute NNN lease - Tenant pays property taxes direct, carries property insurance, maintains the site and building including roof and structure.
  • Newly renovated building, brand new finish out in 2024.
  • Situated at the corner of well trafficked intersection, FM 39 and Main Street with close proximity to popular Iola ISD.
  • Grimes County witnessed a significant population increase of 14.2% between 2000 and 2024.

OVERVIEW

OLDHAM GOODWIN is pleased to present 23473 FM 39 in Iola, Texas for your consideration. This newly renovated, single-tenant restaurant property is leased to Agave Azul, a popular Mexican restaurant with a strong local following. The tenant has approximately three years remaining on an absolute net lease, with no Landlord responsibilities. The owner and operator of Agave Azul has extensive experience with restaurant management, and was the general manager of Juan and Linda’s in Anderson, TX for many years. With a great local following and limited competition in the area, Agave Azul is primed for success, and presents a management free, high yield commercial real estate investment opportunity.

FOR SALE DETAILS

PRICE

$575,000 USD

PRICE/SF

$183 USD /SF

CAP RATE

8.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

None

APN/PARCEL ID

R15676

ASK ABOUT THIS PROPERTY

Clint OldhamOldham Goodwin Group, LLC.More Info
409-781-7734

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Clint OldhamOldham Goodwin Group, LLC.More Info
409-781-7734

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