OFFERING SUMMARY
List Price: $367,500
CAP Rate: 8.0%
Lease Type: Double Net
Gross Leasable Area: 2,263 SF
Year Built: 1983
OFFERING HIGHLIGHTS
- Corporately Guaranteed Double Net Lease–Minimal Landlord Responsibilities
- Five Year Lease Extension Exercised Early, with Additional Five Year Option Remaining
- Located on Major Thoroughfare in Rapidly Growing City–Ideal Demographics for Tenant
INVESTMENT OVERVIEW
Diffie Retail Team at Marcus & Millichap is pleased to present this corporately guaranteed TitleMax property in Edinburg, Texas. The tenant has demonstrated commitment to remain in this location, exercising an early extension on the double net lease, which runs through June 2024. An additional five year option with rent increase follows. The property is located on a major thoroughfare through Edinburg, one of the most rapidly growing cities in Texas. The population demographic is ideal for the tenant, with a median income near $29,000 and a University of Texas campus just up the road. TitleMax is a rare, recession-proof asset since consumers depend more on its services during economic downturns, so this property should thrive even in tough times. Landlord responsibilities are limited to roof and structure, making this TitleMax asset a low-maintenance, reliable source of steady rental income.
