Investment Offering
Beaumont, TX - Christian Brothers Automotive
6140 Delaware Street | Beaumont, TX 77706
$2,308,000
Price6.5%
Cap Rate$150,000
NOI4,540
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN ground leased, corporate guaranteed, freestanding, Christian Brothers Automotive, investment property located in Beaumont, TX. The tenant, Christian Brothers Automotive Corporation, has approximately 12 years remaining in the initial term and 5 (10-year) option periods to extend. The lease features a 1.5% rental increase in Oct 2021 and annual 1.5% rental increases thereafter throughout the options, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed and is absolute NNN with zero landlord responsibilities.
Location
Christian Brothers Automotive is located along Delaware Street (10,700 VPD) near the signalized, hard corner intersection of Delaware St. and Dowlen Rd. (combined 35,600 vehicles passing by daily). The site is adjacent to a H-E-B plus! (with fuel) anchored center, which helps promote crossover shopping. In addition, the asset is 1.7 miles from Parkdale Mall (1,371,870 SF of retail space) with anchor tenants including JCPenney, Dillard’s, Sears, and more. Other nearby national/credit tenants include Walmart Supercenter, Target, Hobby Lobby, Lowe’s Home Improvement, Kroger, Ross, Kohl’s, PetSmart, Walgreens, Bed Bath & Beyond, and more. The 5-mile trade area is supported by a dense population of over 96,000 residents and 65,000 employees. The immediate 1-mile population boasts an extremely affluent average household income of more than $143,000.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215