Net Leased Investment Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30323743
Property Subtypes: Vehicle Related
Building Size (RSF): 13,000 SF
Gross Building Area: See Agent
Gross Land Area: 4.96 Acres
Sale Price: See Agent
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller, Other
Cap Rate: 6.6%
Last Updated: 11/6/2018

Overview / Comments

10 Year NNN Investment opportunity leased to DriveTime, the nations second largest used car dealer. This 13,000 sf facility sits on 4.96 acres and has excellent access and visibility to Interstate Highway 35 and 110,576 cars per day (TXDot 2016).

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $9,488 (Annual)
Tax Value Land $155,988
Tax Value Improvements $188,255
Assessed Value - Total($) $344,243 (Annual)
Net Operating Income $126,000 (Annual)
Actual or Proforma Year Proforma

Current Tenants

Tenant Business Name DriveTime
Website URL www.drivetime.com
Is Renting? Yes
Employees Total 5,000
Year Founded 2002
Current Rent $10 PSF (Annual)
Lease Expiration 2/2028
Escalations 10% increase at month 61-120
Options Three (3) terms at sixty (60) months each
Tenant Notes Lease Summary available upon request

Additional Details

Nearest MSA: Killeen-Temple
County: Bell
Taxing Authority: Bell County
Tax ID/APN: 406952 & 171538
Zoning: COMMERCIAL
Property Visibility: Excellent
Largest Nearby Street: Interstate 35
Feet of Frontage: 602
Traffic/Vehicle Count: 110,576
Highway Access: Interstate Highway 35
Area Description: http://choosetemple.com/doing-business-here/demographics/
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Excellent
Year Built: 2001
Year Renovated: 2018
Roof Type: Flat

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,333 48,592 82,673
Median Age: 45.32 35.79 35.72
Households: 2,919 19,764 31,928
The information presented herein is provided as is, without warranty of any kind. Neither Catylist nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.