Current Use by Public Records
- EZPAWN / Discount Store / (Bike/Boat/Book/etc) Store
- EZ Money / Loan Service
- Western Union / Bank / Credit Union
Property Details for 1104 Front St
- Year built
- 1999
- Lot size
- 0.11 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This fee-simple retail property in Alice, Texas, presents a compelling investment opportunity. The 8,920-square-foot storefront is 100% occupied by EZPawn, a publicly traded company, under a triple-net (NN) lease with a corporate guarantee. The current lease, commencing November 1, 2024, and expiring June 30, 2035, boasts a remaining term of 10.6 years, providing significant long-term income security. A newly executed 10-year extension demonstrates the tenant's commitment to this location. The property features a 6.50% cap rate and a strong net operating income (NOI) of $172,040. The asking price is $2,646,768, translating to a price per square foot of $296.72. Built in 1999, this single-story building sits on a 0.11-acre lot at 1104 E Front St, Alice, TX 78332, benefiting from high visibility and accessibility due to significant daily traffic. Rent bumps occur every five years, and the lease includes two five-year renewal options. Recent building maintenance, including parking lot repairs and an extended roof warranty, further enhances the property's value. This investment offers a blend of stability, strong cash flow, and growth potential.
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
- Alice
- County
- Jim Wells
- State
- Texas
- Longitude
- -98.0643
- Latitude
- 27.7503
