CAP Rate: 5.00%
Net Operating Income: $124,000
Lot Size: 0.68 AC
The Kase Group is pleased to present the rare opportunity to acquire a new 20 year NNN leased Burger King in Socorro, TX. The long-term lease features 7.5% increases every 5 years in the initial term and during the option terms with zero landlord responsibilities.
The subject property is a 3,921 SF Burger King that is set for a re-image in 2018. The site benefits from over 20,000 cars per day and is strategically located in a major retail trade area. Nearby national retailers include Walgreens, 7-Eleven, O’Reilly Auto Parts, Valero, Subway, and Food King.
Socorro is a city in El Paso County, Texas, on the north bank of the Rio Grande southeast of El Paso and on the border of Mexico. El Paso adjoins it on the west and the smaller city of San Elizario on the southeast; small unincorporated areas of El Paso County separate it from the nearby municipalities of Horizon City to the north and Clint to the east. As of the 2000 census, the city population was 27,152. By the 2010 census, the number had grown to 32,013. It is part of the El Paso Metropolitan Statistical Area. The city is El Paso County’s second-largest municipality, after El Paso. It has a council manager type of government with five city council members. Socorro is the 93rd largest community in the state of Texas.