Investment Summary
Price | $1,919,000 |
Cap Rate | |
NOI | |
Lease Term | 25 Years |
Lease Type | Absolute NNN, with Tenant Responsible for all Taxes, Insurance, Utilities, and Maintenance, Including Roof, Structure, and Parking Lot |
Rental Increases | 1% Annual Rental Increases |
Year Built | 2018 |
Building Size | 2,704 SF |
Lot Size | 0.89 Acres (38,768 SF) |
Status | Sold |
Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Cushman and Wakefield Inc. LIC. # 00616335 This property is listed in conjunction with Texas-licensed real estate broker Delta Commercial. |
Investment Highlights
LONG-TERM ABSOLUTE NNN LEASE
» 25-year NNN lease with absolutely no landlord management, providing an ideal investment for an out-of-area investor
» Operated by one of Taco Bell’s largest franchisees, with over 280 units
» Rare annual rental increases, providing an excellent hedge against inflation
HIGH-TRAFFIC LOCATION WITH STRONG CUSTOMER BASE
» Excellent visibility and convenient, signalized access to 29,940 vehicles per day directly in front of the site on West Stan Schlueter Loop
» Immediate access to Highway 195/South Fort Hood Street, which experiencing a traffic count of 28,474 vehicles per day near the property
» 155,854 residents live within a five-mile radius
» Located in one of the fastest growing metro areas in Texas
CENTRAL LOCATION NEAR FORT HOOD AND TEXAS A&M UNIVERSITY–CENTRAL TEXAS
» Fort Hood is one of the largest military installations in the world, and the base has 35,611 active duty soldiers and 4,895 civilian employees
» Fort Hood is a major economic driver, contributing $35.4 billion annually to the state’s economy
» Texas A&M University–Central Texas (TAMU-CT) currently has an enrollment of 3,470 students, but is designed to accommodate over 15,000 students upon completion
» TAMU-CT has been dubbed the second largest economic development to occur in the region only behind the establishment of Fort Hood and is expected to have a total annual economic impact on the region of between $65 million and $129 million
NEW 2018 CONSTRUCTION
» 2018 construction featuring a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
Property Description
SOLD
The property is located on West Stan Schlueter Loop, with excellent visibility and convenient, signalized access to 29,940 vehicles per day directly in front of the site. The property benefits from immediate access to Highway 195/South Fort Hood Street, which experiencing a traffic count of 28,474 vehicles per day near the property. The property is close to several large shopping centers and notable retailers. Major national tenants located along West Stan Schlueter Loop include Walmart Supercenter, H-E-B, CVS, McDonald’s, Dollar Tree, Starbucks, AutoZone, Family Dollar, and more. The property is also just minutes from Killeen Mall, which is visited by over 8 million people annually.
The property is centrally located between the main entrance to Fort Hood and the Texas A&M University–Central Texas (TAMU-CT) campus. Fort Hood is one of the largest military installations in the world. As the largest employer in the Killeen region and the largest single site employer in Texas, the base has 35,611 active duty soldiers and 4,895 civilian employees. Fort Hood is a major economic driver, contributing $35.4 billion annually to the state’s economy. TAMU-CT is one of the newest members of the Texas A&M University System. Located on a 662-acre campus, the university currently has an enrollment of 3,470 students, but is designed to accommodate over 15,000 students upon completion. Overall future campus development will include 19 academic buildings, 1,800 beds of student housing, a 30,000-seat football stadium, a 10,000-seat baseball field, an 8,000-seat indoor arena, parking for 6,000 cars, and much more. The university, which has been dubbed the second largest economic development to occur in the region only behind the establishment of Fort Hood, is expected to have a total annual economic impact on the region of between $65 million and $129 million.