Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
McKinney, TX - 4-Tenant Strip
4020 W University Dr | McKinney, TX 75071
Description
SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, 4-tenant strip investment property located in McKinney, Texas. The tenants are operating on 10-year leases with options to extend and over 8 years of WALT remaining, demonstrating their commitment to the site. All of the leases feature rental increases in year 6 of the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The leases are NNN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.
Location
The subject property is located near the signalized, hard corner intersection of W University Dr and S Hardin Blvd which combine to average over 61,200 vehicles passing by daily. W University Dr is a major retail thoroughfare serving the city of McKinney. The asset is an outparcel to a Dave & Buster’s and EoS Fitness anchored center that also features national/credit tenants including Cava, Torchy’s Tacos, Piada, and Einstein Bros. In addition, the site is located in close proximity to a Costco anchored center with other national/credit tenants including Hobby Lobby, Petco, First Watch, Salata, Verizon, and many others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Lowe’s, Target, Academy, Sam’s Club, Kroger, Chick-fil-A, Raising Cane’s, McDonald’s, Panera, Chipotle and more, further increasing consumer traffic to the site. The subject property is in close proximity to Raytheon’s McKinney campus, which employs over 3,000 people. The 5-mile trade area is supported by a population of over 186,300 residents and 58,400 employees with an affluent average household income of $164,784.
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215