Listing Agency: Trinity Real Estate Investment Services - Corporate Show Phone

Listed By: Cody Crist · License #697980 Show Phone

Source: Moodyscre

Added: Jul 4, 2024 Changed: Oct 2 Last Checked: Oct 20 at 8:18PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Trinity Real Estate Investment Services - Corporate

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Investment Insights

Based on property information with market context.

This property features a Dollar General Market under development in 2024, accompanied by a 15-year absolute NNN lease. The lease includes attractive 5% rental increases every 5 years throughout the primary term and option periods. The property is strategically located along Alameda Ave (FM 793), which generates almost 10,000 vehicles per day in front of the location. The lease is corporately guaranteed by Dollar General, which operates over 20,000 stores nationwide. The surrounding area has a healthy 5-mile demographic for a Dollar Store, with over 9,000 residents. The subject property is less than half a mile from Fabens Airport and is located 28 miles from downtown El Paso, the most populous city in West Texas. The property size is 12,774 square feet.

Key Highlights

• 15‑year absolute NNN lease for a hands‑off investment
• Attractive 5% rental increases every 5 years
• Corporately guaranteed lease by Dollar General, a major national corporation

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$109,576

Cap Rate

4.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,191,520 $2.2M

Cap Rate 7%

$1,565,371 $1.6M

Cap Rate 9%

$1,217,511 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,774 SF

Gross rent

$183.9K $14.40/SF

− Vacancy

−$27.4K −$2.15/SF

EGI

$156.5K $12.25/SF

− OpEx

−$47.0K −$3.68/SF

NOI

$109.6K $8.58/SF

Area

El Paso County, TX

Vacancy

14.90%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,191,520

Cap Rate 7%

$1,565,371

Cap Rate 9%

$1,217,511

Alternative Uses

Best Use

Retail

$1.57M

$1.37M – $1.83M (±1% cap)

NOI $109,576 @ 7.0% cap · market cap 4.09%

Second Best

Specialty Retail

$852.6K

$746.0K – $994.7K (±1% cap)

NOI $59,680 @ 7.0% cap · market cap 2.23%

Theoretical Best

Office A

$2.31M

$2.02M – $2.69M (±1% cap)

NOI $161,596 @ 7.0% cap · market cap 6.03%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Grocery and convenience stores

Location Intelligence

Trade Area within ½ mile

45

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar For Sale Nearby

See more

8-Unit Apartment Building

114 NW Davis Street, Fabens, TX 79838

$625,000

6,300 SF

View details

Mixed-Use Property with Commercial Frontage

611 W Main Street, Fabens, TX 79838

$650,000

4.19 Acres

View details

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - New Dollar General Market with 15-year absolute NNN lease.

Where is this grocery and convenience store located?

The property is located at 15995 Alameda Fabens, TX.

What is the asking price?

The asking price for this property is $2,679,615.

What are key features of this property?

This property features: 15‑year absolute NNN lease for a hands‑off investment; Attractive 5% rental increases every 5 years; Corporately guaranteed lease by Dollar General, a major national corporation