- Lowe’s has more than 8 years remaining on their 15-year lease extension with 10 (5-year) options to extend, demonstrating their long-term commitment to the site
- The lease is guaranteed by Lowe’s Companies, Inc., the second-largest hardware chain in the world with more than 2,200 locations
- Lowe’s is an investment grade tenant (S&P: BBB+)
- The lease includes 10% rental increases at the beginning of each option to extend, increasing NOI and hedging against inflation Previously Full-Size Lowe’s | First Lowe’s Outlet In TX
- This location was previously a full-size Lowe’s store that closed in 2019 until a recent rebranding to become the first “Lowe’s Outlet” in Texas
- Lowe’s Outlet offers discounted merchandise that has minor cosmetic damage and priced 25% to 70% off
- This store carries more than 1,000 new, carefully inspected scratch-and-dent appliances as well as small selection of appliance accessories, such as dryer vents and refrigerator filters Absolute NNN Ground Lease | Land Ownership | Zero Landlord Responsibilities | No State Income Tax
- Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
- No landlord responsibilities
- Investor benefits from fee-simple ownership of the land
- Ideal management-free investment in a state with no state income tax
Investment Offering
Irving, TX (Dallas MSA) - Lowe's
3500 W. Airport Freeway | Irving, TX 75062
$29,856,000
Price6%
Cap Rate135,152 SF
± SF Building Size17.67
± AC Lot SizeDescription
8+ Years Remaining | Corporate Guaranteed Lease | Investment Grade Tenant | Scheduled Rental Increases
Location
Directly off Texas 183 TEXpress/Airport Fwy | DFW Intl Airport | Excellent Visibility & Access
- Lowe’s is directly off Texas 183 TEXpress/Airport Fwy, a state highway serving the Dallas–Fort Worth MSA (188,000 VPD)
- Airport Freeway is the most heavily used section serving the southern entrance of Dallas–Fort Worth International Airport
- Subject property is located less than 7 miles South of DFW International Airport, the fourth-busiest airport by passenger traffic in the world and second-busiest in the United States (62M+ annual passengers)
- The asset benefits from multiple points of access and visibility along Texas 183 and N. Belt Line Road (47,600 VPD) Close Proximity to Irving Mall (401,311 SF) | Dense Retail Corridor | Direct Residential Consumer Base
- Within walking distance to Irving Mall, a 401,311 SF enclosed shopping mall with over 80 stores
- Other nearby national/credit tenants include Target, Aldi, Best Buy, Walmart Supercenter, Kroger, Dollar Tree, and more
- Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site
- Numerous 150+ unit apartment complexes nearby, providing a direct residential consumer base from which to draw Strong Demographics in 5-Mile Trade Area | High Density
- More than 241,000 residents and 159,000 employees support the trade area
- Features an average household income of $78,668
Documents & Links
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 Offering Memorandum |  |  |