950 Main StAllen, TX 75002

For Sale
$3,251,121

High-growth market, strong tenant. 15-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 43,750-square-foot TOCA Football Training Center in Allen, Texas. Located at 950 E Main St, this facility sits on 8.43 acres and boasts a 15-year modified NNN lease with two 5-year renewal options, expiring May 14, 2037. The lease includes 10% rent bumps every five years during the initial term. The tenant, TOCA Football Inc., a leading North American indoor soccer center operator, pays all operating expenses, including ground rent to the City of Allen. Built in 2010, the property benefits from a strong 6.69% cap rate and a net operating income (NOI) of $217,500. The asking price is $3,251,121, translating to $74.31 per square foot. The property is situated in a high-growth area with an average household income exceeding $139,351 within a 3-mile radius. TOCA's strong financial performance and expansion plans, coupled with the long-term lease and favorable market conditions, make this a compelling investment prospect. The City of Allen has expressed continued support for the facility. This is a rare opportunity to acquire a well-established, high-performing asset in a thriving market. The lease includes unit-level and corporate financial reporting requirements. The long-term ground lease with the City of Allen has 45 years remaining.

Highlights

  • 15-Year, Modified NNN leasehold interest with 45 years remaining on the underlying ground lease to the City of Allen; ground rent is 100% passed through to tenant.
  • TOCA lease includes two 5-year renewal options and requires unit-level and corporate financial reporting.
  • High average household income of $139,351 within a 3-mile radius (significantly above the DFW average).
  • Successfully operated as a TOCA Soccer center since 2022, following acquisition of Blue Sky Sports Center; one of four Texas locations.
  • TOCA, North America's largest indoor soccer center operator, has 30+ facilities and plans for significant expansion.
  • Major League Soccer is a TOCA shareholder, furthering the sport's growth.

Property Details for 950 Main St

Property type
Other specialty properties, Specialty properties
Square Feet
43,750 SF
Year Built
2010
Lot Size (sq. ft)
367,211 SF

Location Insight

City
Allen
County
Collin
State
Texas
Latitude
33.0992304
Longitude
-96.6470255
950 Main St, Allen, Texas

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950 Main St
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