Investment Offering
Port Lavaca, TX - Nextcare Urgent Care
603 State Highway 35 S | Port Lavaca, TX 77979
$1,122,143
Price7%
Cap Rate$78,550
NOI4,530
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, absolute NNN leased, NextCare Urgent Care investment property located in Port Lavaca, Texas. The tenant, NextCare Texas, LLC, recently signed a brand new 11-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features rare 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed and is absolute NNN, with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.
Location
The subject property is located along, State Highway 35 (13,700 VPD), with large pylon sign providing excellent visibility. State Highway 35, is the major retail thoroughfare serving the city of Port Lavaca, TX. The asset is less than 1-mile from Memorial Medical Center Hospital, providing a direct customer base to draw from. Nearby national/credit tenants including a 24-hour Walmart Supercenter, Hibbett Sports, Walgreens, Dollar Tree, McDonald's, Sonic and more, increasing consumer draw to the trade area. The 5-mile trade area is supported by a population of over 47,400 residents with an average household income of $69,000. Moreover, within a 1-mile trade area the average household income is $93,400, way above national averages.
Documents & Links
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 Offering Memorandum |  |  |
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