3901 State Highway 121 The Colony, TX 75056
- Retail properties
- 4,960 SF
- 1.18 lot acres
Current Use by Public Records
- Retail properties
Property Details for 3901 State Highway 121
- Year built
- 2000
- Lot size
- 1.18 lot acres
- Property size
- 4,960 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple interest in a 4,960 square foot convenience store and gas station located at 3901 State Hwy 121, The Colony, Texas 75056, in Denton County. The property sits on a 1.18-acre lot and is currently 100% occupied under an absolute NNN lease with GPM Investments, LLC, a subsidiary of ARKO Corp (NASDAQ: ARKO), a Fortune 500 company with a B+ S&P rating. The lease boasts a remaining term of approximately 7.6 years, expiring June 30, 2032, and includes four (4) five (5) year renewal options with annual rent bumps of 1.5%. The current asking price is $4,616,000, representing a price per square foot of $930.65 and a 6.50% cap rate. The property generates a substantial net operating income (NOI) of $300,068. Built in 2000, this asset offers significant depreciation benefits due to its fee-simple ownership structure. ARKO Corp, the parent company, demonstrated strong financial performance in Q2 2024, reporting a net income of $14.1 million and selling over 283 million gallons of fuel. Their continued expansion, including a recent acquisition in October 2023, underscores their market strength and commitment to growth. This presents a compelling opportunity for passive income generation with a stable, high-performing tenant in a prime location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- The Colony
- County
- Denton
- State
- Texas
- Longitude
- -96.901
- Latitude
- 33.0615
