3900 Houston School RdLancaster, TX 75134
- Retail properties
- 5,850 SF
Property Details for 3900 Houston School Rd
- Year built
- 2014
- Construction
- FRAME
- Lot size
- 1.70 AC
- Property size (Sq ft)
- 5,850 SF
- Zone code
- Z39
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
- APN
- 65001411510010200
- APU
- 65001411510010200
Description
This exceptional investment opportunity presents a fee-simple interest in a single-tenant QuikTrip convenience store and gas station located at 3900 N Houston School Rd, Lancaster, TX 75134. The property, built in 2014, boasts 5,858 square feet on a 2.1-acre lot and features 20 gas pumps. The property benefits from a highly visible location on a signalized intersection at the I-20 exit ramp, experiencing over 171,000 vehicles per day. The absolute NNN lease with QuikTrip Corporation provides a corporate guarantee and minimal landlord responsibilities. The current lease, commencing May 1, 2015, and expiring June 30, 2034, has a remaining term of 9.6 years, including seven 5-year renewal options. The asking price is $5,018,000, representing a price per square foot of $856.61 and a 5.65% cap rate. The current Net Operating Income (NOI) is $283,524. Rent bumps of approximately $1.83 per square foot occur every five years, with the next increase scheduled for May 2025. The property is situated in a rapidly growing area, within the DFW metroplex, near major distribution centers. This is a strong, stable investment with a proven tenant and significant upside potential. The property is 100% occupied since its opening date of May 1, 2015.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,466,676
- 6.5%
- $1,353,854
- 7%
- $1,257,151
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,608,584
- Geo Method
- $4,413,608
-
Alternative Use
- Use
- Valuation
- Residential
- $1,142,027
- Hospitality
- $1,046,090
- Educational
- $870,335
- Medical
- $900,267
- Retail
- $1,353,854
Location Insight
- City
- Lancaster
- County
- Dallas
- State
- Texas
- Latitude
- 32.641
- Longitude
- -96.8051
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].