Investment Offering – $1,957,960
Location: 23830 FM 1314, Porter, TX
|Current Rent: $102,793||Cap Rate: 5.25%|
|Lease Term: 20||Remaining Term: 20|
|Lease Type: NN||Building Sq. Ft.: 7,200|
|Renewal Options: 4, Five Year Options|
Long Term Lease: New twenty (20) year built to suit lease. Expected completion date is September 2016.
Rental Escalations: Four (4), Five (5) Year Renewal Options with 6% increases beginning in year 11 and in each option period.
Strategic Location: The subject property is centrally located with access to the city’s main corridor. The site has excellent visibility and traffic counts of over 20,000 VPD on FM 1314. The site is approximately 25 Miles from Downtown Houston Easily accessible via Highway 59, which as daily traffic counts in excess of 115,000.
Active Retail Area: Surrounding retail tenants include: CVS, Sonic, McDonalds, Burger King, Family Dollar, IHOP, Pizza Hut and Stripes. Just West of City’s Main Retail Hub. Over 750,000 square feet of retail within a 1.5-mile radius.
Strong Guarantor: As of December 31, 2015, O’Reilly Automotive, Inc. had revenues of $7.9 billion, a net income of $913 million and a net worth in excess of $1.9 billion. The company currently maintains an investment grade S&P rating of BBB+.