Price: $2,400,000
Cap Rate: 6.25%
NOI: $155,000
Year Built: 2017
Building SF: 6,780
Land AC: 1.64
Top-Ranked Location in the United States (Placer.ai)
According to Placer.ai, this location ranks in the 89th percentile nationwide, and as the #7 location in Texas (out of 41 locations) for visits among the Grease Monkey system. This industry-leading performance underscores the strength of the trade area, customer loyalty, and operational prowess of this site.
Brand New 15-Year Absolute NNN Lease with Reputable Operator
The subject property features a brand new 15-year Absolute NNN lease to Threshold Automotive Service, LLC, a 9-unit Grease Monkey operator. The lease features a franchisee and personal guarantee from the tenant, ensuring investors certainty and stability of passive income through the term of the lease.
Texas Advantage - No State Income Tax
Located in one of the most tax-friendly states in the United States, investors benefit from Texas’s no state income tax environment, enhancing after-tax yields and overall return potential.
Strong Demographics & Proximity to Texas Tech
Just minutes south of Texas Tech University, the site benefits from the city’s most significant demand driver, attracting steady traffic from the 42,000+ students and faculty, as well as from surrounding residential and retail neighborhoods.