Sun Auto Service | Cypress, TX
6,840 SF | Retail Building | Cypress, TX 77433 | $2,573,000 ($376/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,573,000
- Property Type
-
Retail
- Square Feet
- 6,840 SF
- Price / Square Foot
- $376
Listing Contacts
Jeff Lefko
Verified Profile
Bill Asher
Verified Profile
- Property Info
Property Overview
Absolute NNN 17-Year Corporate Lease | Attractive 1.75% Annual Increases | Highly Affluent $140K AHHI Demographics
Property Details
- Class
- C
- Year Built
- 2015
- Stories
- 1
- Property Subtype
- Vehicle Related
- Lot Size (sq. ft)
- 29,621 SF
Highlights
- Single-Tenant Corporate Sun Auto Service with Proven Operating History and New Long-Term Lease: Huge net worth guaranty
- Absolute NNN lease with zero landlord responsibilities | 20-year initial lease term with 17 years remaining and four 5-year options
- 1.75% annual increases during the primary term and 10% increases at each option | Fee simple investment (offering includes both land and building)
- Below Market Rent & Low Price Pt: Subject property was originally a Louetta Auto until it was purchased by GB Auto Service, Inc. & became rebranded
- Outstanding Location Within the Dense, Highly Affluent Cypress Community of Houston: Average household income over $137,000 in a 3-mile radius
- Part of the Houston MSA: #1 “America’s Fastest Growing Cities” (Forbes)
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