Current Use by Public Records
- Specialty properties
Property Details for 2714 Cedar St
- Year built
- 2023
- Lot size
- 0.75 lot acres
- Property type
- Specialty properties
- Property subtype
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a newly constructed, 2,200 square foot Starbucks located at 2714 S Cedar St, Pecos, TX 79772. The property boasts a 15-year net lease with a credit-rated tenant, commencing October 30, 2023, and expiring October 30, 2038. The lease includes a significant 10% rental increase every five years, ensuring consistent and growing income. The property sits on a 0.75-acre lot and benefits from a prime location on a major retail corridor experiencing approximately 120,000 vehicles per day (VPD). This high-traffic area is further enhanced by its proximity to a United Supermarket and a Holiday Inn Express. The building, constructed in 2023, features a concrete parking lot, minimizing landlord responsibilities. The current net operating income (NOI) is $125,000, resulting in a 6.00% cap rate and a price per square foot of $946.97. The asking price is $2,083,334. The lease includes three 5-year renewal options, each with a 10% rent increase. This is a rare opportunity to acquire a strong, passive income-generating asset with a long-term, established tenant and built-in growth potential. The 100% occupancy and early lease extension by Starbucks solidify this investment's stability and attractiveness.
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
- Pecos
- County
- Reeves
- State
- Texas
- Longitude
- -103.486
- Latitude
- 31.4081
