HTeaO
2,200 SF | Retail Building | Wichita Falls, TX 76308 | $2,454,000 ($1,115/SF) | 5.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,454,000
- Property Type
-
Retail
- Square Feet
- 2,200 SF
- Price / Square Foot
- $1,115
Listing Contacts
Tommy Tucker
Verified Profile
Tim Axilrod
Verified Profile
Tayler Rose
Verified Profile
- Property Info
Property Overview
HTeaO is an absolute triple-net (NNN), corporate-leased single-tenant drive-thru asset located in the established northern Texas
submarket of Wichita Falls. The tenant has signed a lease through December 2038, guaranteed by the corporate entity TBevCo, LLC. HTeaO is an ideal single tenant asset, designed at 2,200 square feet with a drivethru, providing long-term residual value. The lease features zero landlord responsibilities and includes 10% rent escalations every 5 years, including each of the six 5-year renewal options. The property benefits from frontage on Southwest Parkway, a highly visible two-sided pylon sign, and left-turn access. Neighboring notable retailers include Walgreens, Hobby Lobby, Tractor Supply, Wells Fargo, Whataburger, Taco Casa, Sonic, and Chicken Express, among numerous others.
submarket of Wichita Falls. The tenant has signed a lease through December 2038, guaranteed by the corporate entity TBevCo, LLC. HTeaO is an ideal single tenant asset, designed at 2,200 square feet with a drivethru, providing long-term residual value. The lease features zero landlord responsibilities and includes 10% rent escalations every 5 years, including each of the six 5-year renewal options. The property benefits from frontage on Southwest Parkway, a highly visible two-sided pylon sign, and left-turn access. Neighboring notable retailers include Walgreens, Hobby Lobby, Tractor Supply, Wells Fargo, Whataburger, Taco Casa, Sonic, and Chicken Express, among numerous others.
Property Details
- Year Built
- 2020
- Stories
- 1
- Lot Size (sq. ft)
- 21,344 SF
Highlights
- Corporate-Leased HTeaO; 15-Year Absolute NNN Single-Tenant Drive-Thru Asset in Northern Texas Submarket of Wichita Falls, TX
- Constructed in 2020 with Primary Lease Term Through December 2038; 10% Escalations Every 5 Years Including Each of the Six, 5-Year Renewal Options
- HTeaO is America’s Largest Iced Tea Franchise & Ranked No. 59 on Inc. Magazine’s 5000 Regionals Southwest List
- Opened 100th Location in January 2024; 530 Franchise Licenses & Growing
- Strong Fundamentals with Frontage to Southwest Parkway (23,536-VPD), 2,200 SF with Drive-Thru, Highly Visible Two-Sided Pylon Sign & Left Turn Access
- Over 3.7MM SF of Retail GLA in a 1.5-Mile Radius Including Sike Senter Mall (670,000+ SF)
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