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DOM: 131 Updated: 07.22.24 Posted: 09.13.23 Status: Sold 01.22.24

Summary

Price $2,753,528 $3,787,970
Built/Renov 2008
Tenant Kwik Kar
Cap Rate 9.29% 6.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,043
Lease Start 05-13-2022
#Units 350
Price/SF $546.01 $751.13
Expiration 05-31-2042
Tenant Type Automotive
NOI $255,688
R. Term 17.0
Ownership Fee Simple
Rent/SF $50.70
Increases 2.0%/1/yrs
Pop 5Mi 340,911
Lot/AC 0.95
Options 4/5yrs/2%
AHHI 5Mi $147,282

Lease Highlights

  • Kwik Kar currently has 18+ years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features annual rental increases equal to the greater of 2% or CPI up to 6%
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee

Location Description

This Kwik Kar property contains monument signage and is strategically located, with high visibility and frontage on Preston Rd (45,463+ VPD). The site benefits from being within close proximity to both a H-E-B grocery location and the Lakeside Market shopping center. It is also located near Legacy Business Park, 33 million square feet of corporate and regional headquarters, and home to many...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Kwik Kar offers the complete package of auto repair services and specializes in full-service oil changes, scheduled maintenance, state inspections, and many other automotive repair services. Kwik...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 14,992 119,877 345,024
2023 Total Population : 14,941 119,921 340,911
2023 Employed Civilian Pop : 8,471 67,195 195,437
2023 Total Businesses : 555 7,156 16,236
2023 Average Household Income : $ 146,759 $ 163,203 $ 147,282
2023 Total Consumer Spending : $ 800 M $ 6685 M $ 17828 M
2023 Median Age : 38 40 39
2023 Total Households : 6,461 48,636 142,651
2023 Pop Age 25+: Bachelor's Degree : 4,238 36,734 100,170
2023 Average Home Value : $ 582,326 $ 538,290 $ 501,156
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Preston Rd Whitestone Ln 2018 45,068 0.11 mi
Preston Road Whitestone Ln 2020 33,476 0.11 mi
Preston Rd Commonsgate Dr 2012 49,000 0.11 mi
W Spring Creek Pkwy Preston Rd 2012 30,845 0.22 mi
Ohio Dr Parnell Ln 2012 11,205 0.25 mi
W Spring Creek Pkwy Baywater Dr 2012 22,548 0.30 mi
Tennyson Pkwy Preston Rd 2012 6,985 0.37 mi
Preston Rd Nueces Dr 2012 53,822 0.41 mi
Preston Rd Tennyson Pkwy 2012 42,154 0.45 mi
Tennyson Pkwy Whitestone Ln 2012 14,998 0.46 mi

Listing Broker

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