3900 Houston School RdLancaster, TX 75134

  • Retail properties
  • 5,850 SF
For Sale
$5,018,000 View listing

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
3900 Houston School Rd, Lancaster, Texas

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$48,219
$742,480
$1,257,520
$2,000,000
-
$742,480
$1,257,520
$2,000,000

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