4611 E Martin Luther King Jr - Service Station FOR SALE


Austin, TX 78721- East MLK
$3,500,000 USD
713-449-1024
4611 E Martin Luther King Jr, Austin, TX for Sale
$3,500,000 USD
Service Station - FOR SALE
1/10
null | 5.14% Cap Rate

4611 E Martin Luther King Jr
Austin, TX 78721
East MLK


HIGHLIGHTS

  • Buyer Fee Simple opportunity
  • Completely redeveloped property and new C-Store building completed in 2019
  • Newly installed fuel tanks completed in 2019
  • Experienced operator with multiple C-Stores in Central Texas
  • Sale lease-back opportunity with proven C-Store developer and operator
  • 4 fuel pumps

OVERVIEW

4611 E MLK Blvd is a free standing 2,012 SF Convenience Store with four gas pumps. The recently redeveloped building sits on 0.40 acres on a hard corner of the highly visible intersection of Springdale and East Martin Luther King Jr Blvd with high-traffic counts along one of East Austin’s busiest intersections. This offering is ideal for an investor seeking long-term stability: the transaction is structured as a 15-year sale-leaseback. The property was redeveloped in 2019 with the building being completely new, existing foundation repaired and tied into a new foundation to expand the C-Store’s footprint. An investor will be purchasing a fully leased, creditworthy tenant, securing steady cash flow from a well-located property with high upside. This Chevron sits on one of the most accessible corners in Austin. The C-store sits a mere 2 minutes from Hwy 183, 7 minutes from the high-density development Mueller and close by to Airport Blvd, Hwy I-35, Hwy 290 and Austin-Bergstrom International Airport. The area has been absorbing significant investment in retail, multifamily, and other commercial projects, and consumer activity is increasing because of it. An investor will likely reap the benefits of a strong uptick in residents and regional commuters. All this combined makes this a very attractive asset for someone looking for reliable returns and long-term upside.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$1,740 USD /SF

CAP RATE

5.14%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

ADD'L SUBTYPES

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,237 SF

ZONING

GR-NP

APN/PARCEL ID

205519

ASK ABOUT THIS PROPERTY

Penn BloxsomAsterraMore Info
713-449-1024

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Penn BloxsomAsterraMore Info
713-449-1024

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