1600 Main St, Allen, TX 75002-4480
- Commercial real estate
- 3,050 SF
- 1.05 lot acres
Current Use by Public Records
- Exxon Mobile / Gas Station
- Western Union / Bank / Credit Union
- Exxon / Gas Station
- 7-Eleven / Grocery & Convenience Store
Property Details for 1600 Main St
- Year built
- 2001
- Lot size
- 1.05 lot acres
- Zone code
- PD
- Property type
- Commercial real estate
- APN
- R-1515-006-001R-1
- APU
- R1515006001R1
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 20, 2024 | — | 711 Allen Tx LLC | Skw Allen LLC | Special Warranty Deed | — |
| Oct 30, 2024 | — | Skw Allen LLC | Susan Walker | Special Warranty Deed | $2.2M · Archway Real Estate Income Fund I R |
| Nov 9, 2005 | — | Walker Benjamin H JR Trust | Main Malone Investments | Grant Deed | $1.3M · American National Insurance Co |
Description
This exceptional investment opportunity presents a fee-simple 7-Eleven convenience store and gas station located at 1600 E Main St, Allen, TX 75002. The property boasts a 3,050 square foot building situated on a 1.05-acre lot, featuring 6 gas islands (12 pumps) and easy access from both cross streets. The property benefits from a highly favorable location in a densely populated area, ranking in the top 9% nationally for foot traffic among 7-Eleven stores. The current tenant, 7-Eleven, holds an investment-grade credit rating and has operated at this location for over 20 years. A new 15-year lease was recently executed, extending through October 31, 2039, with four 5-year renewal options and built-in 10% rent increases every 5 years, providing a hedge against inflation. The property's Net Operating Income (NOI) is $202,400, resulting in a 4.75% cap rate. The asking price is $4,262,105. This NNN lease structure offers zero landlord responsibilities. The property is located within a thriving commercial area in the Dallas-Fort Worth MSA, a major market with a large and growing population, high average household incomes (over $137,000 within 5 miles), and strong nearby tenants including CVS, Walmart, Starbucks, and many more. The property is eligible for bonus depreciation. This is a low-risk, high-reward investment in a recession-resistant industry.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Allen
- County
- Collin
- State
- Texas
- Longitude
- -96.6283
- Latitude
- 33.0997
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
