Main Street Auto
Copperas Cove, TX
Key Details
| Price: | $3,785,714 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $265,000 |
| Address: | 2057 FM 2657, Copperas Cove, Texas 76522 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 2.50 Acres |
| Building Size: | 15,500 SF |
NNN Pro is pleased to present the exclusive listing for a Main Street Auto located at 2057 FM 2657, Copperas Cove, Texas 76522. The site consists of roughly 15500 rentable square feet of building space on an estimated 2.5-acre parcel of land. This Main Street Auto is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $265,000 and has scheduled increases of 2.00% Annually.
About the Investment
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease | At closing the tenant will execute a brand new 20-year absolute triple-net lease. The lease will have no landlord responsibilities
- Attractive Rental Increases | The lease will feature 2.00% rental increases annually
- Corporate Guarantee | The lease will be subject to a strong corporate guarantee from Main Street Auto. Main Street Auto is a rapidly growing operator of automotive repair shops in the southeast. They currently operate ~70 locations and are on target to operate 100 locations by the end of 2024
- Several Tenant Renewal Options | The lease will feature 4, 5-year renewal options, which bring the ultimate lease term to 40 years.
Key Details
| Price: | $3,785,714 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $265,000 |
| Address: | 2057 FM 2657, Copperas Cove, Texas 76522 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 2.50 Acres |
| Building Size: | 15,500 SF |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Edward Otocka
eotocka@nnnpro.com
License: NY: 10401298466
Francis Purritano
fpurritano@nnnpro.com
License: NY: 10401333619
Howard Curd
hcurd@nnnpro.com
License: NY: 10401339720
Walker Stevens
wstevens@nnnpro.com
License: NY: 10401381479
Broker of Record
Brian Brockman
Bang Realty-Texas, Inc
License: 701472
Related Listings
Loading...
EquipmentShare
1761 U.S. 271, Gladewater, Texas 75647
PRICE$3,042,962
CAP RATE6.65%
Loading...
Alliance Animal Health
520 West Broadway Avenue, Portland, Texas 78374
PRICE$627,692
CAP RATE6.50%
Loading...
Parachute Plasma
928 North Highway 123 Bypass, Seguin, Texas 78155
PRICE$4,278,385
CAP RATE6.75%
Loading...
Red Lobster
5825 South Padre Island Drive, Corpus Christi, Texas 78412
PRICE$6,768,557
CAP RATE7.00%
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.