List Price: $7,350,000
CAP Rate: 6.0%
Lease Type: Absolute Net
Gross Leasable Area: 12,000 SF
Lot Size: 6.70 Acres
Year Built: 2014
- Fifteen-Year NNN Lease to Commence at Close of Escrow
- High-Volume Gas Station and Convenience Store
- Located Directly on Interstate 45
- Built in 2014
- Sonic has Drive-Thru
- Fourteen Years Remain on Gas Contract
Diffie Retail Team at Marcus and Millichap is pleased to present Lucky J’s Travel Center, a 12,000 square-foot retail space sitting on 6.7 acres that includes a Valero gas station, convenience store, and Sonic. The store is strategically located off Interstate-45 in Teague, Texas about halfway between Dallas and Houston and sees 33,000 vehicles per day. The travel center is an easy and quiet stop for truckers or travelers hauling between the two heavily trafficked cities.
The property has an ingress and egress that is very accessible for both sides of the highway and a large marquee that makes the property easily identifiable. The site consists of six double-sided fuel dispensers, six diesel truck lanes, a convenience store, Sonic with drive-thru, a trucker lounge, showers, and laundry station equipped with washer and dryer. There is also plenty of room for travelers or trucks on the property, with 116 parking spots and 42 overnight spots for diesel trucks.
The Sonic and Valero are under a master lease with a sale-leaseback in place with the current owner. The owner, who personally guarantees the lease, is an experienced franchisee with multiple Sonics and a handful of convenience stores with gas stations in Texas. The property is subject to a fifteen-year absolute triple net sale-leaseback with 3% rental increases every five years and three five-year options with 3% rental increases to follow.