Address: 309 - 311 South Timberland Drive , Lufkin, Texas, United States 75901
Cap Rate: 6.00%
Lease Type: Absolute Triple Net (NNN)
Annual Rent: $234,809
Net Operating Income: $234,809
Lease Term Remaining: 14.9 Years
Rental Increases: 10% Every 5
Options: Four, Five-Year Options
Year Built: 2000 & 1984
Rentable Sq/Ft: 40,802,536 SF
Rent Sq/Ft: $0.01
Price Sq/Ft: $0
Lot Size: +/-1.45 Acres
The subject Grease Monkey and Car Wash is located at 309-311 South Timberland Drive, Lufkin, Texas. Built in 2000, the subject Grease Monkey consists of 4,080 square feet, while the car wash is 2,536 square feet. These properties sit on an estimated combined 1.45 acre lot.
This is a unique investment opportunity to own both a Grease Monkey oil change location as well as a car wash, both subject to one, long term 15-year NNN lease. The initial annual rent will be $234,809 and will increase by 10.0% every 5 years. There will be four (4), five (5)-year tenant renewal options.
The lease is guaranteed by Grease Monkey International, LLC. Founded in 1978, and headquartered in Denver, Grease Monkey International currently has more than 300 locations operating in the United States, Latin America and China.
The subject property is located at 309-311 South Timberland Drive in Lufkin, Texas. Lufkin is a city in eastern Texas and the county seat of Angelina County.
This Grease Monkey benefits from being located in close proximity to a variety of national retailers. National retailers include: H.E.B, CVS Pharmacy, Walgreens, Big Lots, Sherwin Williams, Taco Bell, Burger King, and many more. The subject property is located approximately 1.7 miles from CHI St. Luke’s Memorial Health, which is home to East Texas’s largest emergency room. Additionally, located less than a half of a mile from the subject property is Lufkin Middle School, which enrolls over 1,600 students each year. Ellen Trout Zoo is also located approximately 3 miles from the subject property. Owned and operated by the city of Lufkin, Ellen Trout Zoo features over 700 animals and experiences an annual attendance of over 150,000 people each year.
There are approximately 32,667 individuals residing within a three-mile radius of the property and more than 49,455 individuals within a five-mile radius. The subject property is strategically located along South Timberland Drive, which has an average daily traffic count of 17,300 vehicles. South Chestnut Street, which intersects with South Timberland Drive, has an average daily traffic count that exceeds 12,300 vehicles. Intersecting with the opposite end of South Timberland Drive is East Denman Drive, which brings an additional 7,000 vehicles to the immediate area each day.
Broker of Record: Timothy Speck – License # 432723