OFFERING SUMMARY
Price: $4,073,843
Cap Rate: 5.75%
Gross Leasable Area: 8,074 SF
NOI: $234,246
OFFERING HIGHLIGHTS
- Absolute Net Lease
- Corporately Guarantee by TBC Corporation
- Upcoming Rental Increase in February 2024
- High Growth Central Texas Market
- Income Tax Free State
INVESTMENT OVERVIEW
This investment opportunity features an absolute net, corporately guaranteed National Tire and Battery located in Harker Heights, TX. The property is located along Central Texas Expressway which sees over 30,000 Vehicles Per Day and is the primary East/West thoroughfare in this booming Texas submarket.
Harker Heights has seen tremendous growth over the last 10 years and is anticipated to accelerate that growth by nearly 3 percent per year over the next 5 years. Fort Hood, a 214,968-acre military base, is one of the primary economic drivers in this submarket. The property itself sits within 10 miles of the facility and serves a community of approximately 250,000 residents within that 10-Mile radius of the site.
National Tire and Battery has been operating at this site since 2008 when they executed a 25-Year lease. The property currently has 11 years remaining on the lease, with two more CPI rental escalations remaining through the primary term. This opportunity affords an incoming investor the ability to acquire a property with a tenant that has a recession resistant business model, while hedging against inflation with two more cumulative CPI rental increases over the next 11 years.
