Cap Rate: 4.75%
Net Operating Income: $90,000
Square Footage: 2,100
Year Built: 2021
The Kase Group is pleased to present the opportunity to acquire Valvoline in Waxahachie, Texas. The property is located off Highway 77 along the city’s main retail corridor, less than 1.5 miles from the crossroads of Interstate 35E and US Highway 287. The site sits ideally positioned to Waxahachie Marketplace, a ± 176,000 SF power center anchored by a best-in-class lineup of national tenants, who comprise 95% of the GLA. Area retailers include: Academy, TJ Maxx, Ulta, Raising Cane’s, Arby’s, Five Below, McAlister’s Deli, Lowe’s, Home Depot, Target and many more.
Currently under construction, this 15-year ground lease features 10% rental increases in every 5 years and is corporately guaranteed by Valvoline. The Valvoline site offers excellent access with the ability to stack numerous cars, and easy ingress and egress. The site is just off US 77, which sees daily traffic counts of over 26,000 cars. The lease is an absolute NNN ground lease featuring zero landlord maintenance or expense responsibilities.
Waxahachie, Texas is located just beyond the southern suburbs of Dallas and is part of the Dallas–Fort Worth metroplex. The population was 29,621 at the 2010 census, with an estimated population of 37,988 in 2019. Interstate 35E is a major north-south freeway serving as a bypass around the west side of Waxahachie. The freeway connects with Red Oak, Desoto/Lancaster, and Dallas to the north; Italy, Hillsboro, and Waco to the south.
Employment opportunities in the city are highly oriented toward industry. Owens Corning, Georgia-Pacific, International Paper, James Hardie Industries, Berry Global, Americase, Cardinal Glass, Magnablend, and Dart Container are located within a few miles of each other. Non-industrial employers include Baylor Scott & White Health, Waxahachie Independent School District, Walgreen Distribution Center, Wal-Mart, HEB Grocery, Navarro College, and Southwestern Assemblies of God University.