For Sale
$2,172,287

5342 Kostoryz RdCorpus Christi, TX 78415

High-yield, 12-year NNN lease. Strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 1,688-square-foot, freestanding auto shop in Corpus Christi, Texas. The property, located at 5342 Kostoryz Rd, 78415, sits on a 0.22-acre lot and is currently 100% occupied under an absolute NNN lease with Minit Man Oil Change. The lease, commencing November 3, 2021, and expiring October 31, 2036, has a remaining term of 12 years, with two 5-year renewal options. The tenant, backed by a corporate guarantee, enjoys a 2% annual rent increase, ensuring consistent income growth. The property boasts excellent visibility on Kostoryz Road, offering easy access to South Padre Island Drive, a high-traffic area. Built in 1987, this asset generates a substantial NOI of $158,557, representing a 7.30% cap rate and a price per square foot of $1,286.90. The asking price is $2,172,287. This investment is ideally situated near Texas A&M University-Corpus Christi and benefits from the strong population base of over 217,154 residents within a five-mile radius, further enhanced by the proximity to the Port of Corpus Christi. This is a rare opportunity to acquire a stable, high-performing net lease property with significant long-term potential.

Highlights

  • Absolute Net Lease with 12.5 Years Remaining
  • 2% Annual Rent Increases
  • Corporate Guarantee from Grease Monkey International, LLC
  • High Visibility on Kostoryz Road, easily accessible from South Padre Island Drive (161,667 VPD)
  • Strong Demographics: Over 217,000 residents within 5 miles
  • Proximity to the Port of Corpus Christi (3rd largest in the US)

Property Details for 5342 Kostoryz Rd

Property type
Retail properties, Auto shops
Square Feet
1,688 SF
Year Built
1987
Lot Size (sq. ft)
9,583 SF
Units
1

Location Insight

City
Corpus Christi
County
Nueces
State
Texas
Latitude
27.7249383
Longitude
-97.4148791
5342 Kostoryz Rd, Corpus Christi, Texas

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5342 Kostoryz Rd
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