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DOM: 188 Updated: 07.22.24 Posted: 09.02.23 Status: Sold 03.08.24

Summary

Price $4,386,000
Built/Renov 1992
Tenant Lamb's Tire & Automotive
Cap Rate 5.70%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,727
Lease Start 02-01-2023
#Units 425
Price/SF $765.85
Expiration 01-31-2038
Tenant Type Automotive
NOI $250,000
R. Term 12.9
Ownership Fee Simple
Rent/SF $43.65
Increases 2.0%/1/yrs
Pop 5Mi 300,155
Lot/AC 0.75
Options 3/5yrs/2%
AHHI 5Mi $122,335

Lease Highlights

  • Tenant signed a new 15-year lease with 3 (5-year) options to extend
  • Lease features 2% annual rent increases
  • Absolute NNN lease I Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Lamb’s Tire & Automotive is situated on Far West Boulevard, with access to 27,307 vehicles passing by daily. The property is conveniently located directly across from a large shopping center anchored by H-E-B. Additionally, there are plans for the development of 9,000 additional residential units in the surrounding area. This location is only 6.5 miles away from downtown Austin and 18 miles...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Sun Auto Tire & Services (formerly known as GB Auto Service) is a leading provider of vehicle aftermarket repair service. The company offers tire replacement, brake repair and other undercar...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 15,979 102,745 302,886
2023 Total Population : 16,565 102,520 300,155
2023 Employed Civilian Pop : 9,715 61,492 172,032
2023 Total Businesses : 2,155 9,309 18,965
2023 Average Household Income : $ 131,398 $ 139,151 $ 122,335
2023 Total Consumer Spending : $ 885 M $ 5881 M $ 14400 M
2023 Median Age : 36 37 33
2023 Total Households : 7,909 49,212 135,708
2023 Pop Age 25+: Bachelor's Degree : 5,459 30,050 72,468
2023 Average Home Value : $ 749,365 $ 732,412 $ 709,019
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Wood Hollow Drive 2015 6,488 0.08 mi
Wood Hollow Dr Far West Blvd 2010 7,340 0.09 mi
Wood Hollow Drive 2015 8,297 0.11 mi
Far West Blvd Hart Ln 2010 18,670 0.12 mi
Wood Hollow Dr Far West Blvd 2005 12,040 0.13 mi
Far West Boulevard 2015 17,255 0.14 mi
Village Center Dr N Hills Dr 2005 6,000 0.15 mi
Hart Lane 2015 6,121 0.16 mi
Hart Ln Far West Blvd 2010 6,620 0.16 mi
Hart Ln Far West Blvd 2010 6,330 0.18 mi

Listing Broker

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