Casa Olé - Vidor, Texas | 1015 N Main St
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Casa Olé - Vidor, Texas 1015 N Main St
3,874 SF Retail Building Vidor, TX 77662 £1,502,754 (£388/SF) 8% Net Initial Yield
Investment Highlights
- Absolute NNN Lease Restaurant: No Landlord Responsibilities
- Annual Increases of 1.5 Percent: One Ten Year Option
- National Retailers Nearby
- New 10 Year Term: Great Sales
- Located Near Interstate 10 (72,800+ Vehicles Per Day) on North Main Street (27,400 Vehicles Per Day) | Fronts the Main Retail Thoroughfare in Vidor
Executive Summary
Marcus & Millichap is pleased to exclusively list for sale a freestanding, absolute triple-net restaurant located at 1015 North Main Street in Vidor, Texas. The 3,874-square-foot building is situated on approximately 1.21 acres. The Property, known as Casa Olé Vidor, is located on the main retail throughfare in Vidor and is close to Interstate 10.
Casa Olé is on an absolute triple-net lease, which provides a buyer with a hands-off investment. There is approximately nine years of lease term remaining. The tenant’s lease agreement is guaranteed by Mexican Restaurants, Inc., who owns five brands and over thirty locations across three states. Placer.ai ranks the Property in the top 86 percent of Casa Olé locations nationwide. Casa Olé Vidor is listed for sale at an 8 percent cap rate. A buyer’s return will increase overtime due to annual rent increases of 1.5 percent. Tenant has one 10-year option with the same 1.5 percent annual increases.
Nearby retailers include: McDonald's, Popeyes, Whataburger, Burger King, Domino's, and Dairy Queen.
Casa Olé is on an absolute triple-net lease, which provides a buyer with a hands-off investment. There is approximately nine years of lease term remaining. The tenant’s lease agreement is guaranteed by Mexican Restaurants, Inc., who owns five brands and over thirty locations across three states. Placer.ai ranks the Property in the top 86 percent of Casa Olé locations nationwide. Casa Olé Vidor is listed for sale at an 8 percent cap rate. A buyer’s return will increase overtime due to annual rent increases of 1.5 percent. Tenant has one 10-year option with the same 1.5 percent annual increases.
Nearby retailers include: McDonald's, Popeyes, Whataburger, Burger King, Domino's, and Dairy Queen.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,874 SF
Building Class
C
Year Built/Renovated
1994/2004
Price
£1,502,754
Price Per SF
£388
Net Initial Yield
8%
NOI
£120,220
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Lot Size
1.21 AC
Zoning
N/Av
Parking
70 Spaces (18.07 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 008094-002764 | Improvements Assessment | £92,511 |
| Land Assessment | £102,770 | Total Assessment | £195,282 |
PROPERTY TAXES
Parcel Number
008094-002764
Land Assessment
£102,770
Improvements Assessment
£92,511
Total Assessment
£195,282
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Casa Olé - Vidor, Texas | 1015 N Main St
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