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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.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
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

7 Brew Coffee
Anytime Fitness
Palio’s Pizza Café
HOTWORX
Brookshire's Food & Pharrmacy
Starbucks
Prosperity Bank
Soulman's Bar-B-Que

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
200238
Land Assessment
£450,308
Improvements Assessment
£273,458
Total Assessment
£723,766
  • Listing ID: 34098310

  • Date on Market: 05/12/2024

  • Last Updated:

  • Address: 134 E Ovilla Rd, Red Oak, TX 75154

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