For Sale
$2,418,000

6810 Spur DrEl Paso, TX 79932

High-growth NNN lease, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a brand-new, 1,438 square foot auto shop in El Paso, Texas. Built in 2023, the property boasts a 15-year absolute triple-net (NNN) lease with a prominent franchisee tenant, ensuring zero landlord responsibilities. The lease includes a 10% rent increase every five years, generating a 6.00% cap rate based on the $2,418,000 asking price and a current NOI of $145,076. Situated on a 0.65-acre lot with eight parking spaces, the property enjoys excellent visibility and accessibility from TX-16 Spur Highway/Woodrow Bean Transmountain Drive, a major thoroughfare with 20,900 vehicles per day. Its strategic location near the Outlet Shoppes at El Paso, a large shopping center, and other significant retail and commercial establishments, ensures high traffic and customer visibility. The tenant, a rapidly expanding oil change franchise with over 850 locations and plans for significant future growth, provides a strong and stable income stream. The property's proximity to major roadways and a high school further enhances its appeal. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant long-term growth potential in a thriving Texas market. The property includes six, five-year lease options.

Highlights

  • Brand-new, state-of-the-art, 2023 construction.
  • Absolute triple-net lease; zero landlord responsibilities.
  • New 15-year lease with 10% rent increases every 5 years; 6.62% average cap rate (at list price).
  • Full-term guaranty from a high-growth operator with 28+ open locations, projected 50+ by end of 2024.
  • Excellent location near Outlet Shoppes at El Paso (433,000+ SF, ~5.2 million annual visitors).
  • High visibility from Tx-16 Spur Hwy/Woodrow Bean Transmountain Dr (20,900 VPD).

Property Details for 6810 Spur Dr

Property type
Retail properties, Auto shops
Square Feet
1,438 SF
Class
B
Year Built
2023
Buildings
1
Lot Size (sq. ft)
28,314 SF
Units
1

Location Insight

City
El Paso
County
El Paso
State
Texas
Latitude
31.9075194
Longitude
-106.5870831
6810 Spur Dr, El Paso, Texas

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6810 Spur Dr
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