Investment Offering – $1,868,963
23830 Farm To Market Road 1314, Porter TX 77365
|NOI: $102,793||Cap Rate: 5.50%|
|Lease Term: 20||Remaining Term: 20|
|Lease Type: NN||Building Sq. Ft.: 7,200|
|Renewal Options: Four (4), Five (5) Year Options|
- Long Term Lease: New twenty (20) year built to suit lease. Relocation from directly adjacent property. Rent Commencement date is March 20th, 2018
- 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 38,000 VPD on FM 1314. The site is approximately 25 Miles from Downtown Houston Easily accessible via Highway 59, which has daily traffic counts in excess of 115,000.
- Active Retail Area: Surrounding retail tenants include: CVS, Sonic, McDonald’s, Burger King, Family Dollar, IHOP, Ace Hardware, Pizza Hut and Stripes. Just West of City’s Main Retail Hub. Over 800,000 Square feet of retail within a 1.5-mile radius.
- Strong Guarantor: As of December 31, 2016, O’Reilly Automotive, Inc. had 4,934 stores nationwide with revenues of $8.59 billion, a net income of over $1 billion and a market cap in excess of $21 billion. The company currently maintains an investment grade S&P rating of BBB+.