6810 Spur DrEl Paso, TX 79932

Property Details for 6810 Spur Dr

Year built

2023

Lot size

0.65 AC

Property size (Sq ft)

1,438 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

El Paso

County

El Paso

State

Texas

Latitude

31.9075

Longitude

-106.587

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