Investment Offering
Burleson, TX - Spec's
12425 S Fwy | Burleson, TX 76028
$6,092,000
Price6.5%
Cap Rate$396,000
NOI12,000
± SF Offering GLADescription
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN leased, Spec’s investment property located in Fort Worth, Texas. The tenant, Spec’s Family Corp. recently signed a brand new 15 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
Location
The Spec’s is strategically located just off Interstate 35 and Rendon Crowley Rd, which are commuter and retail thoroughfares averaging 133,000 and 33,300 vehicles passing by daily. Interstate 35 is a major north-south commuter thoroughfare serving the greater Dallas/Forth Worth metropolitan area. The property will be ideally located within Southgate Marketplace, a mixed-use development at the southeast corner of Rendon Crowley Road and Interstate 35, that will feature a variety of stores and restaurants. Furthermore, the asset is a half mile north of Gateway Station, a 368,000 square foot shopping center with major tenants including Kohl’s, Ross Dress for Less, HomeGoods, PetSmart, and more. In addition, Spec’s is located less than a half mile east of McAlister Square, a 193,000 square foot shopping center anchored by Academy Sports & Outdoors. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Lowe’s Home Improvement, AMC Theatres, Dollar Tree, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the subject property. The 5-mile local trade area is supported by a population of over 156,400 with an affluent average household income of $98,927.
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