3901 State Highway 121The Colony, TX 75056

Property Details for 3901 State Highway 121

Year built

2000

Lot size

1.18 AC

Property size (Sq ft)

4,960 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a fee-simple interest in a 4,960 square foot convenience store and gas station located at 3901 State Hwy 121, The Colony, Texas 75056, in Denton County. The property sits on a 1.18-acre lot and is currently 100% occupied under an absolute NNN lease with GPM Investments, LLC, a subsidiary of ARKO Corp (NASDAQ: ARKO), a Fortune 500 company with a B+ S&P rating. The lease boasts a remaining term of approximately 7.6 years, expiring June 30, 2032, and includes four (4) five (5) year renewal options with annual rent bumps of 1.5%. The current asking price is $4,616,000, representing a price per square foot of $930.65 and a 6.50% cap rate. The property generates a substantial net operating income (NOI) of $300,068. Built in 2000, this asset offers significant depreciation benefits due to its fee-simple ownership structure. ARKO Corp, the parent company, demonstrated strong financial performance in Q2 2024, reporting a net income of $14.1 million and selling over 283 million gallons of fuel. Their continued expansion, including a recent acquisition in October 2023, underscores their market strength and commitment to growth. This presents a compelling opportunity for passive income generation with a stable, high-performing tenant in a prime location.

Location Insight

City

The Colony

County

Denton

State

Texas

Latitude

33.0615

Longitude

-96.901

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