For Sale
$4,750,000

4261 John Ben Shepperd PkwyOdessa, TX 79762

High-yield Golden Corral in Odessa, TX

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity features a 12,467-square-foot Golden Corral restaurant on a 1.47-acre lot in Odessa, Texas. Built in 2011, the Class A property boasts 100% occupancy with a strong, established tenant. The Net Lease (NNN) investment offers a compelling 6.4% cap rate, further enhanced by a 4% percentage rent bonus not included in the cap rate calculation. The asking price is $4,750,000, translating to $381.01 per square foot. The property includes 200 parking spaces and benefits from a high daily traffic count of 37,000 vehicles. The current lease commenced June 1, 2011, and includes rent bumps. Three five-year lease extensions are available, each with a 5% rent increase. This single-tenant, free-standing building presents a stable, high-return investment in a thriving West Texas market. The property is located at 4261 John Ben Shepperd Pkwy, Odessa, TX 79762. The property's strong performance and favorable lease terms make it an attractive opportunity for discerning investors. The current lease has two years remaining before the first extension option.

Highlights

  • Attractive 6.4% cap rate.
  • 4% percentage rent bonus (not included in cap rate).
  • Two years remaining on the current lease.
  • Three, five-year lease extension options available.
  • 5% rent increases with each extension.
  • High daily traffic count of 37,000 vehicles.

Property Details for 4261 John Ben Shepperd Pkwy

Property type
Retail properties, Restaurants
Square Feet
12,467 SF
Class
A
Year Built
2011
Buildings
1
Stories
1
Lot Size (sq. ft)
64,033 SF

Location Insight

City
Odessa
County
Ector
State
Texas
Latitude
31.8964006
Longitude
-102.335778
4261 John Ben Shepperd Pkwy, Odessa, Texas

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4261 John Ben Shepperd Pkwy
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