CAP Rate: 5.00%
Net Operating Income: $93,756
Lot Size: 0.587 AC
Year Built: 2012
This is the opportunity to purchase a 6,000square-foot net leased offering in Dallas, Texas. The tenant has over 13 years of initial term remaining on their lease with an increase in rent in 2023. The tenant has four, 5 year options to renew with 6% increases at each option. The lease is corporately guaranteed by O’Reilly Auto Parts and calls for minimal landlord obligations. The site is strategically located on Martin Luther King Jr. Boulevard, a major commercial thoroughfare that leads to State Fair Park and The Cotton Bowl Stadium. The property is also nearby several retailers including Walgreens, Fiesta Mart, Save-A-Lot, and Bank of America.
Dallas is a major city in the U.S. state of Texas. It is the most populous city in the Dallas–Fort Worth metroplex, the fourth most populous metropolitan area in the United States. The city’s population ranks ninth in the U.S. and third in Texas after Houston and San Antonio. The city’s prominence arose from its historical importance as a center for the oil and cotton industries, and its position along numerous railroad lines. The bulk of the city is in Dallas County, of which it is the county seat; however, sections of the city are located in Collin, Denton,a Kaufman, and Rockwall counties. According to the 2010 United States Census, the city had a population of 1,197,816. The United States Census Bureau’s estimate for the city’s population increased to 1,317,929 as of July 1, 2016.