Building Details

Year Built 2016

Listing Agency: Marcus & Millichap

Listed By: Cole Skinner · License #FL SL3407088

Source: Crexi

Added: Jan 28 Changed: Aug 8 Last Checked: Aug 8 at 3:16PM

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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 Marcus & Millichap

Investment Insights

Based on property information with market context.

This 9,026 square foot built-to-suit store, constructed with a 2016 prototype, is available for sale. The property features a full concrete parking lot. The store operates under an absolute NNN lease with over 6 years remaining on the initial 15-year term. The lease includes four, five-year options with 10% rental increases. Located less than two hours from Houston, the property benefits from its proximity to the Big Thicket National Preserve, a 113,000+ acre National Park Service site attracting over 300,000 annual visitors. The highway directly in front of the store was recently expanded from two to four lanes. The store is less than 5 miles from Wildwood, Texas, an affluent community known for its lakes, recreational facilities, and nearby nature trails. The store is ranked as the #1 store in a 15 mile radius and ranked top 30% nationwide. The property is located in an income tax free state and the tenant has a S&P “BBB” credit rating.

Key Highlights

• Absolute NNN Lease with 6+ Years Remaining
• #1 Ranked Store in a 15 Mile Radius (Placer.ai)
• Located Directly Adjacent to the Big Thicket National Preserve

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$100,592

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

8.90%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,011,840 $2.0M

Cap Rate 7%

$1,437,029 $1.4M

Cap Rate 9%

$1,117,689 $1.1M

Market Conditions

NOI Build-Up for 9,026 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$157.1K $17.40/SF

− Vacancy

−$13.3K −$1.48/SF

EGI

$143.7K $15.92/SF

− OpEx

−$43.1K −$4.78/SF

NOI

$100.6K $11.14/SF

Area

Hardin County, TX

Vacancy

8.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$2,011,840

Cap Rate 7%

$1,437,029

Cap Rate 9%

$1,117,689

Alternative Uses

Best Use

Specialty Retail

$1.66M

$1.46M – $1.94M (±1% cap)

NOI $116,469 @ 7.0% cap · market cap 10.31%

Second Best

Retail

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $100,592 @ 7.0% cap · market cap 8.90%

Theoretical Best

Office A

$2.13M

$1.87M – $2.49M (±1% cap)

NOI $149,211 @ 7.0% cap · market cap 13.20%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Grocery and convenience stores

Location Intelligence

Trade Area within ½ mile

20

Businesses Nearby

Explore this area Business Placement

Demographics for 77663, TX

1,291

Population

414

Households

3.1

Avg Household Size

57

Median Age

10%

College-Educated

100%

High-School Grad

17.9 sq mi

ZIP Area

72

Density / Sq Mi

$74,038

Median Household Income

$237,500

Median Home Value

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

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - 9,026 SF NNN store near Big Thicket National Preserve.

Where is this grocery and convenience store located?

The property is located at 13776 US-69 Village Mills, TX.

What is the asking price?

The asking price for this property is $1,130,137.

What are key features of this property?

This property features: Absolute NNN Lease with 6+ Years Remaining; #1 Ranked Store in a 15 Mile Radius (Placer.ai); Located Directly Adjacent to the Big Thicket National Preserve