611 Grant AveStrawn, TX 76475

For Sale
$1,259,000

Texas Convenience Store, 6.35% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple ownership of a 7,500 square foot Dollar General convenience store in Strawn, Texas. Built in 2019, the property boasts a 100% occupancy rate with a strong, absolute triple-net (NNN) corporate lease guaranteeing no landlord responsibilities. The current lease, commencing February 2019, has over nine years remaining and includes three five-year renewal options, each with a 10% rent increase. The property generates a substantial net operating income (NOI) of $79,955, resulting in an attractive 6.35% capitalization rate. The asking price is $1,259,000 and is structured for a 1031 exchange. This single-story building is situated at 611 Grant Ave, Strawn, TX 76475, in Palo Pinto County. The property's strong tenant, long-term lease, and minimal landlord responsibilities make it an ideal addition to any diversified investment portfolio. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset with significant upside potential.

Highlights

  • 2019 construction with a corporate NNN lease.
  • Over nine years remaining on a 15-year NNN lease (commencing February 2019).
  • No landlord responsibilities.
  • Corporate guaranteed lease.
  • Three five-year renewal options at 10% increases each.

Property Details for 611 Grant Ave

Property type
Other retail properties, Individual retail properties
Square Feet
7,500 SF
Year Built
2019
Buildings
1
Stories
1

Location Insight

City
Strawn
County
Palo Pinto
State
Texas
Latitude
32.542877731685
Longitude
-98.498912010378
611 Grant Ave, Strawn, Texas

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611 Grant Ave
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