Current Use by Public Records
- Retail properties & Spaces
Property Details for 107 State Hwy 31
- Year built
- 1987
- Lot size
- 1.76 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple, 100% occupied, single-tenant retail property located at 107 State Hwy 31 W, Dawson, TX 76639. The 6,044 square foot convenience store and car wash sits on a 1.76-acre lot and is master-leased to Petro Max, a successful operator of 48 convenience stores across Texas, Colorado, and Kansas, providing a strong and experienced tenant base. The property boasts a healthy NOI of $490,000, translating to a 7.50% cap rate and a price per square foot of $1,080.96. Built in 1987, the property benefits from a long-term, absolute NNN lease structure with rent bumps (details available in the offering memorandum). A portion of the property is subleased to Subway, extending through May 2028, further enhancing the investment's stability and return. The property's strategic location within Navarro County, Texas, and its inclusion of high-speed diesel fuel dispensing capabilities, contribute to its strong financial performance. The asking price for this turnkey investment is $6,533,333. Detailed financial information, including rent bump specifics and lease renewal options, is available in the offering memorandum. This is a rare opportunity to acquire a well-established, high-performing convenience store and car wash in a desirable Texas location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Dawson
- County
- Navarro
- State
- Texas
- Longitude
- -96.7179
- Latitude
- 31.9009
