3406 College Ave, Snyder, TX 79549
2,141 SF | Retail Building | Snyder, TX 79549 | $1,940,000 ($906/SF) | 6.70% Cap Rate
For Sale
Active
Asking Price $1,940,000
- Property Type
-
Retail
- Square Feet
- 2,141 SF
- Price / Square Foot
- $906
Listing Contacts
- Property Info
Property Overview
• Newly remodeled building (2022)
• New, 15-year, absolute NNN lease | Zero Landlord responsibilities
• Corporate guaranty from a rapidly growing tenant | 227+ locations across 27 states and is contracted to grow to 242 locations by end of 2024
• No direct competition within about 25 miles
• Long-term operating history | Site has been an oil change for decades and has a well-established customer base
• Strong performing location | Speak with Agent for details
• 10% rental increases every 5 years throughout initial term and options | Strong hedge against inflation | Average CAP of 7.44% over the remaining base lease term, assuming purchase at List Price
• Direct access and excellent visibility from College Ave
• Site is walking distance to:
• Cogdell Memorial Hospital | 49 beds
• Snyder High School | 724 students
• Snyder Primary School | 900+ students
• Walmart Supercenter, McDonald’s, Whataburger, Bealls, United Supermarkets, Dairy Queen, Sonic, West Texas Home & Garden,
AutoZone, Big O Tires, Dollar General, Family Dollar, among others
• Located 2 miles from Western Texas College | 1,442 students
• Heavy industrial activity in the area for fleet business | Oil and gas (e.g. Kinder Morgan), extensive windmill base and new construction (e.g. Amazon), and vast solar farms built and under construction (multiple ~4,000 acre farms)
• Asset is located in an income tax-free state
• Asset may be eligible for Bonus/Accelerated Depreciation, which is a huge tax advantage | Speak with your CPA/Tax Advisor to confirm
• COVID and E-commerce resistant tenant
• New, 15-year, absolute NNN lease | Zero Landlord responsibilities
• Corporate guaranty from a rapidly growing tenant | 227+ locations across 27 states and is contracted to grow to 242 locations by end of 2024
• No direct competition within about 25 miles
• Long-term operating history | Site has been an oil change for decades and has a well-established customer base
• Strong performing location | Speak with Agent for details
• 10% rental increases every 5 years throughout initial term and options | Strong hedge against inflation | Average CAP of 7.44% over the remaining base lease term, assuming purchase at List Price
• Direct access and excellent visibility from College Ave
• Site is walking distance to:
• Cogdell Memorial Hospital | 49 beds
• Snyder High School | 724 students
• Snyder Primary School | 900+ students
• Walmart Supercenter, McDonald’s, Whataburger, Bealls, United Supermarkets, Dairy Queen, Sonic, West Texas Home & Garden,
AutoZone, Big O Tires, Dollar General, Family Dollar, among others
• Located 2 miles from Western Texas College | 1,442 students
• Heavy industrial activity in the area for fleet business | Oil and gas (e.g. Kinder Morgan), extensive windmill base and new construction (e.g. Amazon), and vast solar farms built and under construction (multiple ~4,000 acre farms)
• Asset is located in an income tax-free state
• Asset may be eligible for Bonus/Accelerated Depreciation, which is a huge tax advantage | Speak with your CPA/Tax Advisor to confirm
• COVID and E-commerce resistant tenant
Property Details
- Class
- C
- Year Built/Renovated
- 1985/2022
- Stories
- 1
- Property Subtype
- Vehicle Related, Freestanding, Storefront
- Lot Size (sq. ft)
- 29,185 SF
Highlights
- New, 15-year, absolute NNN lease | Zero Landlord responsibilities
- Corporate guaranty from a rapidly growing tenant | 227+ locations across 27 states and is contracted to grow to 242 locations by end of 2024
- Long-term operating history | Site has been an oil change for decades and has a well-established customer base
- Strong performing location | Speak with Agent for details
- 0% rental increases every 5 years throughout initial term and options | Strong hedge against inflation | Average CAP of 7.44% over the remaining term
- Asset may be eligible for Bonus/Accelerated Depreciation, which is a huge tax advantage | Speak with your CPA/Tax Advisor to confirm
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].