Cap Rate: 7.00%
Gross Leasable Area: 4,653 SF
- Recently Executed 10-Year Lease
- Strong, Publicly Traded Corporate Guarantee
- Historically Strong Location for Tenant
- Income Tax-Free State
Marcus & Millichap is pleased to present qualified investors with the unique opportunity to acquire a high-performing EZ Pawn property located in Eagle Pass, Texas. EZ Pawn corporate recently executed a new 10-year lease at the end of 2020 and has two, five-year options built into the lease. The property, which has been a pawnshop for decades, is in an exceptionally strong location for its industry, demonstrated by the fact that the tenant was willing to execute a brand new extension upon the previous close of escrow. The lease is NN+ in nature with a strong rent bump built in at year five of the lease.
EZ Pawn has been in existence since 1974 and is headquartered in Austin, Texas. They have a strong presence in central and south Texas and have flourished over the past few decades. Eagle Pass has a population of more than 29,300 residents. The subject property is well located on a hard corner, just down the street from Juan N. Seguin Elementary School and a Family Dollar.