Current Use by Public Records
- Take 5 Oil Change / Auto Repair Shop
Property Details for 6810 Spur Dr
- Year built
- 2023
- Lot size
- 0.65 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a brand-new, 1,438 square foot auto shop in El Paso, Texas. Built in 2023, the property boasts a 15-year absolute triple-net (NNN) lease with a prominent franchisee tenant, ensuring zero landlord responsibilities. The lease includes a 10% rent increase every five years, generating a 6.00% cap rate based on the $2,418,000 asking price and a current NOI of $145,076. Situated on a 0.65-acre lot with eight parking spaces, the property enjoys excellent visibility and accessibility from TX-16 Spur Highway/Woodrow Bean Transmountain Drive, a major thoroughfare with 20,900 vehicles per day. Its strategic location near the Outlet Shoppes at El Paso, a large shopping center, and other significant retail and commercial establishments, ensures high traffic and customer visibility. The tenant, a rapidly expanding oil change franchise with over 850 locations and plans for significant future growth, provides a strong and stable income stream. The property's proximity to major roadways and a high school further enhances its appeal. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant long-term growth potential in a thriving Texas market. The property includes six, five-year lease options.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- El Paso
- County
- El Paso
- State
- Texas
- Longitude
- -106.587
- Latitude
- 31.9075
