Offering Memorandum
Property Highlights
- Net Leased Service King Investment Property - Marcus & Millichap is pleased to exclusively market for sale a single-tenant net-leased Service King in Grand Prairie, Texas.
- 18 Years Remaining on Long Term Lease, 10% Rent Increases - Service King occupies the property on an Absolute Triple Net (NNN) lease which commenced in 2002 and expires on December 31, 2038. The lease includes 10% rent increases every four years and during the option period.
- Corporate Guarantee by Service King
- Strategic Location in Retail Corridor, Located Among Well-Traveled Highway - The subject location is located among Texas Highway-360 (147,553 VPD), bringing in much traffic daily. Service King is surrounded by other retailers and restaurants including Kroger, Starbucks, Sonic, and Whataburger. It is also located directly next to the Grand Prairie Municipal Airport.
- Located in the Dallas-Fort Worth MSA - The subject location in Grand Prairie, Texas is located just 6 miles southeast of Arlington (Pop: 402,762) and is also located within the Dallas-Fort Worth MSA (Pop: 6,301,000), being only 20 miles from the city of Fort Worth (Pop: 932,116) and 21 miles from Dallas (1,382,270).
- Price: $3,600,000
- Lot Size: 1.77 AC
- Cap Rate: 5.00%
- Lease Type: Absolute Triple Net (NNN)
- Year Built: 2002
- Building SF: 16,504 SF
- Status: Sold
- Guarantor: Corporate