10802 Us-290Manor, TX 78653

For Sale
$1,288,888

High-growth Austin area, NNN leased retail property.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple, 1,489 square foot retail property located at 10802 US-290, Manor, TX 78653, in Travis County. The property is currently 100% occupied by LoanStar Title Loans under an absolute NNN lease with a remaining term of approximately 7.8 years, expiring August 30, 2032. The lease commenced August 25, 2022, and includes a 10-year initial term with a 5-year option. Rent increases are built in, with a 3.5% increase on September 1, 2027. The property boasts a strong 6.75% cap rate and a net operating income (NOI) of $87,000. Built in 2022, this single-story building sits on a 0.24-acre lot. The property benefits from its strategic location, enjoying high traffic counts exceeding 56,442 vehicles per day on Hwy 290. The surrounding area demonstrates significant growth potential, with a 5-mile population of approximately 54,107 residents and an estimated population growth of 31.34% over the next five years. The property's proximity to Manor High School and Middle School, along with Manor New Tech High and Middle School, further enhances its appeal. The average household income within a 3-mile radius is $92,745 annually. This is a credit-rated tenant with a corporate guarantee, offering significant security and peace of mind for the investor. The asking price is $1,288,888.

Highlights

  • 8 years remaining on a 10-year absolute NNN lease.
  • Zero landlord responsibilities.
  • 3.5% rent increase on September 1, 2027.
  • Strong demographics: 54,007 residents within a 5-mile radius, projected 31.34% population growth in 5 years.
  • Excellent location: adjacent to schools with a combined student population exceeding 5,700.
  • Average household income within a 3-mile radius is $92,745.

Property Details for 10802 Us-290

Property type
Other retail properties, Individual retail properties
Square Feet
1,489 SF
Year Built
2022
Buildings
1
Stories
1
Lot Size (sq. ft)
10,454 SF

Location Insight

City
Manor
County
Travis
State
Texas
Latitude
30.348709
Longitude
-97.5620288
10802 Us-290, Manor, Texas

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10802 Us-290
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