About This Restaurant
Investment Highlights
7% Cap Rate Tenant exercised renewal early and renovated interior, showing strong commitment to location Below Replacement Value ($121/sf) Recent improvements made to the property
Executive Summary
Family Dollar location that was a build to suit in 2004. Tenant exercised an early 3 year extension in 2021, with the current term now expiring in December 2026. The Tenant also renovated the interior of the property in 2021, further showing strong commitment to the location. SPF roof coated in 2021 with a 15-year warranty. Two 5-year extension options remain, with 10% increases at the beginning of each renewal.
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Retail
- Building Size 7,816
- Building Class B
- Year Built 2003
- Price 950,000
- Price Per SF 122
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.25
- Land Acres 0.72 AC
| Date Created: | 2024-07-16 04:23:44 | Last Updated: | 2024-07-16 04:23:44 |
| Address: | 1519 S Port Ave , Corpus Christi, Texas, 78405 | ||