Northern Tool + Equipment NNN
For Sale
$5,913,745
1921 Austins Colony Pkwy, Bryan, TX 77802
Newly constructed retail asset with a corporate lease and limited landlord obligations.
Property Size22,496 SF
Days on Market193
Property Features for 1921 Austins Colony Pkwy
General Information
Standard status
Active
Size
22,496 SF
Property subtype
Free Standing Building
Building Details
Building Size
22,496 SF
Year Built
2024
Listing Agency:
Trinity Real Estate Investment Services
(817) 768-6364
Listed By:
Brad Motley · License #586199
(817) 768-6364
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 4:13AM
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
Investment Insights
Based on property information with market context.
Completed in 2024, this retail property is leased to Northern Tool + Equipment under a 10-year corporate NN lease. The lease includes a corporate guarantee from the tenant, which operates 140+ U.S. locations, while landlord responsibilities are described as minimal.
The property sits along Austins Colony Pkwy in Bryan, with access near Earl Rudder Fwy (Hwy 6), a corridor reporting 84,000+ vehicles per day. Texas A&M University is approximately 5 miles away and has 77,000+ students systemwide. Nearby national retailers include Walmart Supercenter, Lowe’s, Chick-fil-A, Walgreens, H-E-B, and Starbucks. The property is located within the Bryan-College Station MSA, where the surrounding area has $105,000+ average household income within 1 mile and 17.7% 10-year population growth.
The property sits along Austins Colony Pkwy in Bryan, with access near Earl Rudder Fwy (Hwy 6), a corridor reporting 84,000+ vehicles per day. Texas A&M University is approximately 5 miles away and has 77,000+ students systemwide. Nearby national retailers include Walmart Supercenter, Lowe’s, Chick-fil-A, Walgreens, H-E-B, and Starbucks. The property is located within the Bryan-College Station MSA, where the surrounding area has $105,000+ average household income within 1 mile and 17.7% 10-year population growth.
Key Highlights
- 2024 construction with a 10‑year corporate NN lease
- Corporate guarantee from Northern Tool + Equipment
- Tenant operates 140+ U.S. locations
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
$243,389
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
4.12%
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%
$4,867,780
$4.9M
Cap Rate 7%
$3,476,986
$3.5M
Cap Rate 9%
$2,704,322
$2.7M
Market Conditions
NOI Build-Up for 22,496 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
$377.9K $16.80/SF
− Vacancy
−$30.2K −$1.34/SF
EGI
$347.7K $15.46/SF
− OpEx
−$104.3K −$4.64/SF
NOI
$243.4K $10.82/SF
Area
Brazos County, TX
Vacancy
8.00%
Lease Rate
$16.80 /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%
$4,867,780
Cap Rate 7%
$3,476,986
Cap Rate 9%
$2,704,322
Alternative Uses
Best Use
Retail
$3.48M
$3.04M – $4.06M
NOI $243,389 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.54M
$4.85M – $6.46M
NOI $387,759 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 77802, TX
25,502
Population
12,189
Households
2.1
Avg Household Size
37
Median Age
42%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,218
Density / Sq Mi
$68,132
Median Household Income
$43,920
Median Earnings
$1,272
Median Rent
$237,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Newly constructed retail asset with a corporate lease and limited landlord obligations.
Where is this nnn property located?
The property is located at 1921 Austins Colony Pkwy Bryan, TX.
What is the asking price?
The asking price for this property is $5,913,745.
What are key features of this property?
This property features: 2024 construction with a 10‑year corporate NN lease; Corporate guarantee from Northern Tool + Equipment; Tenant operates 140+ U.S. locations
