Current Use by Public Records
- Lifestyle centers
Property Details for 914 Austin St
- Year built
- 2024
- Lot size
- 0.95 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a brand-new, free-standing Dollar General store in Robert Lee, Texas. The property boasts a 10,566 square foot building on a 0.95-acre lot, constructed in 2024. The property features 35 parking spaces and is situated at 914 Austin St, conveniently located between 9th and 10th Streets at the intersection of Highways 158 and 208. The single-tenant, Class A retail space is leased under an absolute NNN lease structure with a credit-rated, corporate-guaranteed tenant. The lease commenced August 27, 2024, and has a remaining term of 15.1 years, extending to August 31, 2039. The lease includes five, five-year renewal options with a 5% rent increase every five years. The current asking price is $2,374,141, representing a price per square foot of $224.70 and a 6.50% cap rate. The property generates a net operating income (NOI) of $154,319 annually. The location benefits from proximity to recreational areas such as Mountain Creek Golf Club and E.V. Spence Reservoir. Robert Lee serves as the county seat of Coke County, offering a strategic position approximately 31 miles north of San Angelo and 67 miles southwest of Abilene. This is a compelling investment opportunity with a strong tenant, long-term lease, and attractive financial metrics. 100% occupancy is guaranteed from the lease commencement date.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Robert Lee
- County
- Coke
- State
- Texas
- Longitude
- -100.484
- Latitude
- 31.8953
