OFFERING SUMMARY
List Price: $432,000
CAP Rate: 8.25%
Lease Type: Triple Net
Guarantee: Corporate
Gross Leasable Area: 1,890 SF
Year Built: 2012
OFFERING HIGHLIGHTS
- Corporately Guaranteed Triple-Net Lease
- High Traffic Location in San Antonio MSA
- Close Proximity to Jourdanton ISD Schools
- Tenant Exercised Seven-Year Lease Extension, with Three FIve-Year Options Remaining
INVESTMENT OVERVIEW
Diffie Retail Team at Marcus & Millichap is pleased to present this corporately guaranteed Subway in Jourdanton, Texas (San Antonio MSA). The offering provides the opportunity to acquire a triple-net property leased to an experienced Subway operator who has been in this location since it opened in 2012. The property is located on the heavily-trafficked State Highway 16 approximately thirty-seven miles south of downtown San Antonio and one-block away from two Jourdanton schools, providing a steady customer base. Subway exercised its first five-year lease option in 2017 and demonstrated its commitment to this location by executing an amendment in 2019 which extended the term an additional two years and added an additional option period. Each of the three remaining five-year options will come with ten percent rent increases, offering a buyer the potential for an eventual cap rate of nearly eleven percent and a steady tenant through 2039.
