16604 Interstate Hwy Austin, TX 78728

Property Details for 16604 Interstate Hwy

Year built

1994

Lot size

2.36 lot acres

Property size

17,500 SF

Property type

Retail properties

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a 17,500-square-foot, Class B retail auto shop located at 16604 N Interstate Hwy 35, Austin, TX 78728, in Travis County. The property sits on a 2.36-acre lot and boasts a newly renovated building (completed in 2024), originally constructed in 1994. Currently occupied by Crash Champions, a leading collision repair company, this single-tenant property features a new 15-year Absolute NNN lease commencing February 1, 2024, and expiring January 31, 2039. The lease includes three, five-year renewal options and features a 3% annual rent escalation. The asking price is $5,715,909, representing a compelling cap rate of 5.75% and a price per square foot of $326.62. The tenant, Crash Champions, has invested significantly in property improvements, including a new roof, interior lighting, parking lot improvements, facade enhancements, and repainting. This prime location in North Austin, directly off I-35, benefits from high visibility and easy access, situated within a rapidly growing and economically vibrant area known for its strong quality of life and proximity to downtown Austin. Ample parking is available for customers and completed repairs, with recent restriping of parking spaces. The property's strong tenant, long-term lease, and attractive financial metrics make it an ideal addition to any investment portfolio.

Location Insight

City

Austin

County

Travis

State

Texas

Longitude

-97.6725

Latitude

30.4709