3406 College Ave, Snyder, TX 79549-4633

Property Details for 3406 College Ave

Year built

1994

Lot size

0.67 lot acres

Property type

Commercial real estate

APN

20002

APU

20002

Description

This exceptional investment opportunity presents a 2,141 square foot, Class B auto shop in Snyder, Texas, currently operating under a 15-year absolute NNN lease (expiring June 30, 2038) with a credit-rated tenant backed by a corporate guarantee. The property, built in 2016 and completely remodeled in 2022, boasts 100% occupancy and a strong NOI of $130,000, yielding a 6.70% cap rate at the asking price of $1,940,000. The lease includes 10% rent bumps every five years, providing a hedge against inflation. Situated on a 0.67-acre lot at 3406 College Ave, the property benefits from excellent visibility and convenient access. Its location near major roadways, schools (Snyder High School and Snyder Primary School), Cogdell Memorial Hospital, and numerous retail establishments (including Walmart, McDonald's, and Whataburger) ensures high traffic and customer accessibility. The tenant, a rapidly expanding national brand with over 200 locations and projected growth to 242 by the end of 2024, enjoys a significant competitive advantage due to the lack of direct competition within a 25-mile radius. This asset is located in an income tax-free state and may be eligible for bonus/accelerated depreciation. The property offers four, five-year lease options, providing long-term stability and predictable income. This is a rare opportunity to acquire a well-established, high-performing asset with significant upside potential.

Location Insight

City

Snyder

County

Scurry

State

Texas

Longitude

-100.919

Latitude

32.7083

CBSA code

43660

CBSA name

SNYDER, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments