Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 1790 I-40
- Year built
- 1979
- Lot size
- 1.00 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Land
Description
Exceptional opportunity to acquire a thriving, owner-user gas station and convenience store complex in Adrian, Texas. This 3,556 square foot facility, situated on one acre with direct frontage to I-40 (18,000 vehicles per day), boasts unparalleled visibility and accessibility. The property, built in 1979 and extensively renovated in 2020, includes six gas pumps with a separate canopy for large trucks, a fully operational kitchen, private office, back storage room, and a private employee bedroom. The convenience store and restaurant are currently operating at 100% occupancy, generating a 2023 NOI of $854,000 and a projected 2024 NOI of $950,000, representing a 14.23% cap rate. The asking price is $6,950,000 ($1,687.29/sq ft). This turnkey operation benefits from its location in a tax-free state, offering significant bonus depreciation advantages. The property's strategic location near popular tourist attractions like Cadillac Ranch and Route 66 further enhances its appeal. Large pylon signage is visible from I-40. The current owner has plans for a future +/- 9,000 square foot truck stop expansion on the rear of the property. This is a rare opportunity to acquire a stabilized, high-performing asset with significant upside potential. The property's APN is 1-23-211061300000000000. Seller financing may be considered.
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
- Adrian
- County
- Oldham
- State
- Texas
- Longitude
- -102.746
- Latitude
- 35.2626
