2028 Eddy St, Pecos, TX 79772
- Retail space
- 9,856 SF
- 1.00 lot acres
Current Use by Public Records
- Retail space
Property Details for 2028 Eddy St
- Year built
- 1983
- Lot size
- 1.00 lot acres
- Property type
- Retail space
Description
This fee-simple retail property in Pecos, Texas, offers a compelling investment opportunity. The property features a 9,856 square-foot Dollar General store, one of three tenants in a strip center, operating under a Double Net (NN) lease with minimal landlord responsibilities. The lease, with a remaining term of 3.9 years, includes a five-year renewal option with a 15% rent increase. The tenant, Dollar General Corporation, holds an investment-grade credit rating of "BBB," providing financial security. Built in 1983, the single-story building sits on a one-acre lot in a commercially zoned area. The property boasts a strong location on S. Eddy Street, a high-traffic area with 10,251 vehicles passing daily, surrounded by residential homes and local businesses. The surrounding area demonstrates strong demographics, with a three-mile average household income of $76,391 and a ten-mile population of 12,263. Recent improvements include a new roof (2020), new paving (2017), and a new HVAC system (2016). The asking price of $399,000 reflects an 8.58% cap rate based on a net operating income (NOI) of $34,221. This property is ideal for a 1031 exchange or passive investor seeking a stable, high-return investment with a nationally recognized, creditworthy tenant. The lease commenced October 1, 1999, and expires September 30, 2028.
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Location Insight
- Map
- Local Demand
- City
- Pecos
- County
- Reeves
- State
- Texas
- Longitude
- -103.502395
- Latitude
- 31.4057138
