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Updated: 05.07.24 Posted: 07.27.23 Status: Sold

Summary

Price $2,727,000
Built/Renov 2023
Tenant Brakes Plus
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 3,168
Lease Start 01-01-2024
#Units 144
Price/SF $860.80
Expiration 01-01-2039
Tenant Type Automotive
NOI $163,600
R. Term 13.8
Ownership Fee Simple
Rent/SF $51.64
Increases 7.5%/5/yrs
Pop 5Mi 142,733
Lot/AC 1.04
Options 5/5yrs/7.5%
AHHI 5Mi $67,227

Lease Highlights

  • Brand new construction, opening 2023
  • Brakes Plus, LLC signed a brand new 15-year lease with 5 (5-year) options to extend
  • Lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

The Brakes Plus is located along W Stan Schlueter Loop, a major east/west traveling thoroughfare with 30,500 vehicles passing by daily. W Stan Schlueter Loop is a major retail thoroughfare serving the city of Killeen. The property is currently undergoing a rebuild and will feature state-of-the-art, brand-new construction with modern amenities and design. The Brakes Plus property is located...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Brakes Plus
  • Guarantor:Corp Rated
  • Company:Mavis Tire Express Services Topco Corp.
  • # Units:144
  • Tenant S&P: B-
  • Moody’s: B3
  • Stock:Private

About Tenant

Brakes Plus is a full-service auto repair and maintenance shop. The company provides brake repair, maintenance, air conditioning, clutch repair, axles, engine repair, transmission, radiators, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 16,201 77,688 146,853
2023 Total Population : 15,915 76,020 142,847
2023 Employed Civilian Pop : 5,979 27,022 46,642
2023 Total Businesses : 167 1,094 2,969
2023 Average Household Income : $ 72,773 $ 70,512 $ 67,296
2023 Total Consumer Spending : $ 337 M $ 1617 M $ 2853 M
2023 Median Age : 28 28 27
2023 Total Households : 5,350 26,324 48,470
2023 Pop Age 25+: Bachelor's Degree : 1,673 7,396 13,027
2023 Average Home Value : $ 265,168 $ 219,755 $ 219,975
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Old Copperas Cove Rd Lonesome Dove Dr 2010 20,000 0.05 mi
West Stan Schlueter Loop Lonesome Dove Dr 2020 26,190 0.09 mi
Old Copperas Cove Rd Jake Spoon Dr 2010 30,500 0.12 mi
Wade Dr Old Copperas Cove Rd 2010 1,320 0.29 mi
Old Copperas Cove Rd Judson Ave 2010 20,400 0.49 mi
Hitchrock Dr Old Copperas Cove Rd 2010 1,280 0.53 mi
West Elms Road Vernice Loop 2021 10,188 0.64 mi
Littlerock Dr Agate Dr 2010 3,520 0.67 mi
Bridgewood Drive Black Forest Ln 2021 560 0.72 mi
Amethyst Dr Littlerock Dr 2010 190 0.74 mi

Listing Broker

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