1206 Main St Grand Prairie, TX 75050-5606

Property Details for 1206 Main St

Year built

2014

Construction

TILT-UP CONCRETE

Lot size

1.28 lot acres

Property size

5,530 SF

Zone code

Z31

Property type

Grocery and convenience stores

APN

28675190010010000

APU

28675190010010000

Description

This exceptional investment opportunity presents a fee-simple interest in a single-tenant QuikTrip convenience store and gas station located at 1206 W Main St, Grand Prairie, TX, within the Dallas MSA. The 5,720 square foot property, built in 2015, sits on a 1.28-acre lot and boasts 18 gas pumps. Benefiting from a prime location along the George Bush Turnpike (77,400+ vehicles per day), it's adjacent to the Heller Industrial Park. The property enjoys strong demographics, with nearly 250,000 residents within a five-mile radius. The Absolute NNN lease with QuikTrip Corporation features a corporate guarantee, providing significant security. The current lease, commencing August 1, 2015, and expiring June 30, 2034, has a remaining term of 9.6 years, including seven five-year renewal options. Rent increases of approximately $1.91 per square foot are built in every five years, with the next increase scheduled for August 2025. The property's current NOI is $288,828, resulting in a 5.65% cap rate and a price per square foot of $893.71. The asking price is $5,112,000. This is a rare opportunity to acquire a well-performing, strategically located QuikTrip property with significant long-term growth potential.

Location Insight

City

Grand Prairie

County

Dallas

State

Texas

Longitude

-97.0213

Latitude

32.7421

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments