3901 State Highway 121The Colony, TX 75056

For Sale
$4,616,000

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fee-simple interest in a 4,960 square foot convenience store and gas station located at 3901 State Hwy 121, The Colony, Texas 75056, in Denton County. The property sits on a 1.18-acre lot and is currently 100% occupied under an absolute NNN lease with GPM Investments, LLC, a subsidiary of ARKO Corp (NASDAQ: ARKO), a Fortune 500 company with a B+ S&P rating. The lease boasts a remaining term of approximately 7.6 years, expiring June 30, 2032, and includes four (4) five (5) year renewal options with annual rent bumps of 1.5%. The current asking price is $4,616,000, representing a price per square foot of $930.65 and a 6.50% cap rate. The property generates a substantial net operating income (NOI) of $300,068. Built in 2000, this asset offers significant depreciation benefits due to its fee-simple ownership structure. ARKO Corp, the parent company, demonstrated strong financial performance in Q2 2024, reporting a net income of $14.1 million and selling over 283 million gallons of fuel. Their continued expansion, including a recent acquisition in October 2023, underscores their market strength and commitment to growth. This presents a compelling opportunity for passive income generation with a stable, high-performing tenant in a prime location.

Highlights

  • Absolute NNN lease with 7.6 years remaining until June 30, 2032, offering passive ownership.
  • Annual rent increases of 1.5%.
  • Fee simple ownership allows for depreciation.
  • Tenanted by GPM Investments, LLC, a subsidiary of ARKO Corp (S&P: B+), a Fortune 500 company.
  • Strong performing tenant; ARKO Corp reported Q2 2024 net income of $14.1 million and sold over 283 million gallons of fuel.

Property Details for 3901 State Highway 121

Property type
Other retail properties, Automotive properties
Square Feet
4,960 SF
Year Built
2000
Lot Size (sq. ft)
51,401 SF

Location Insight

City
The Colony
County
Denton
State
Texas
Latitude
33.0614798
Longitude
-96.9009794
3901 State Highway 121, The Colony, Texas

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3901 State Highway 121
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