Take 5 Oil Change NNN Ground Lease, 1565 11th Street, Huntsville, Texas

1565 11th Street Huntsville, TX 77340

1565 11th Street, Huntsville, TX, 77340
Net-Lease Investment
1565 11th Street, Huntsville, TX, 77340
FOR SALE
Property Type:
Free Standing Building
Amount:
$1,020,000
Last Verified:
Feb 08, 2019

Highlights

  • 7 years 7 months remaining ground lease, as of January 11, 2019
  • Offered at a 5% CAP rate with 10% increases in rent for each of the 5 year renewal option periods.
  • Strong corporate guarantee from national credit tenant with over 190 locations in 12 states.
  • Absolute NNN lease with tenant responsible for all maintenance including roof and structure, plus water and sewer lines.
  • Steady growth in Huntsville due to major government prison complexes within the city.
  • Home to Sam Houston State University.

Description

10 year corporate ground lease - commenced August 11, 2016. Remaining term is 7 years, 7 months as of January 11, 2019. Lease has four (4) option periods of five (5) years each. Lease rate is fixed for first 10 year term, then increases 10% each 5 year renewal period.

Located adjacent to the intersection of Hwy 75 and 11th street (Hwy 190), the major east/west thoroughfare through the city of Huntsville. With a traffic count of more than 22,000 per day, it is nestled next to CVS Pharmacy, and across the street from Walgreen's, HEB Grocery, O'Reilly's Auto Parts, Enterprise Rent-A-Car, Family Dollar, and McKenzie's Barbecue.


Year Built: 2001
Building Size: 2213.0sq ft
Lot Size: 0.34 acres

Map of 1565 11th Street, Huntsville, TX, 77340

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