Long Term NNN Kwik Kar in Dallas MSA | 134 E Ovilla Rd
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Long Term NNN Kwik Kar in Dallas MSA 134 E Ovilla Rd
4,884 SF Retail Building Red Oak, TX 75154 £2,749,645 (£563/SF) 5.75% Net Initial Yield
Investment Highlights
- Qualifies for bonus depreciation
- Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
- Long term ±18 year lease
- Dallas Metro (income tax free state)
- Absolute NNN lease (zero landlord responsibilities)
- Recession resistant business
Executive Summary
INVESTMENT HIGHLIGHTS
• Qualifies for bonus depreciation
• Dallas Metro (income tax free state)
• Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
• Absolute NNN lease (zero landlord responsibilities)
• Long term ±18 year lease
• Recession resistant business
TENANT HIGHLIGHTS
• Kwik Kar has been operating in the market since 1986
• Strong Corporate Guarantor: FullSpeed Automotive oversees ±900 owned and franchised units, generating $300 million in revenue
• FullSpeed Automotive is a subsidiary of MidOcean Partners, a private equity group that operates and invests in consumer and business services
• MidOcean Partners has $7 Billion of assets under management (www.midoceanpartners.com)
LOCATION HIGHLIGHTS
• Located in retail hub encircled by major brands, including Brookshire’s, KFC, Walgreens, CVS, Ace Hardware, Panda Express, Chick-fil-A, Burger King, McDonald’s, Dairy Queen, and Others.
• Outparcel to Walmart Supercenter featuring shared access with prominent national tenants: AutoZone, Dollar Tree, and Anytime Fitness.
• Frontage on Ovilla Rd, a major arterial with immediate access to the I-35 Freeway (±95,189 VPD)
• Red Oak is currently growing at a rate of 7.57% annually and its population has increased by 39.15% since 2020.
• Qualifies for bonus depreciation
• Dallas Metro (income tax free state)
• Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
• Absolute NNN lease (zero landlord responsibilities)
• Long term ±18 year lease
• Recession resistant business
TENANT HIGHLIGHTS
• Kwik Kar has been operating in the market since 1986
• Strong Corporate Guarantor: FullSpeed Automotive oversees ±900 owned and franchised units, generating $300 million in revenue
• FullSpeed Automotive is a subsidiary of MidOcean Partners, a private equity group that operates and invests in consumer and business services
• MidOcean Partners has $7 Billion of assets under management (www.midoceanpartners.com)
LOCATION HIGHLIGHTS
• Located in retail hub encircled by major brands, including Brookshire’s, KFC, Walgreens, CVS, Ace Hardware, Panda Express, Chick-fil-A, Burger King, McDonald’s, Dairy Queen, and Others.
• Outparcel to Walmart Supercenter featuring shared access with prominent national tenants: AutoZone, Dollar Tree, and Anytime Fitness.
• Frontage on Ovilla Rd, a major arterial with immediate access to the I-35 Freeway (±95,189 VPD)
• Red Oak is currently growing at a rate of 7.57% annually and its population has increased by 39.15% since 2020.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,884 SF
Building Class
B
Year Built
1998
Price
£2,749,645
Price Per SF
£563
Net Initial Yield
5.75%
NOI
£158,105
Tenancy
Single
Number of Floors
1
Building FAR
0.23
Lot Size
0.48 AC
Zoning
Commercial
Parking
15 Spaces (3.67 Spaces per 1,000 SF Leased)
Frontage
121 ft on East Ovilla Road
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 200238 | Improvements Assessment | £273,458 |
Land Assessment | £450,308 | Total Assessment | £723,766 |
PROPERTY TAXES
Parcel Number
200238
Land Assessment
£450,308
Improvements Assessment
£273,458
Total Assessment
£723,766
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Long Term NNN Kwik Kar in Dallas MSA | 134 E Ovilla Rd
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