534 East Garland Street Grand Saline, TX 75140
- Commercial real estate
- 6,140 SF
- 0.79 lot acres
Current Use by Public Records
- 7-Eleven / Convenience Store
- Western Union / Money Transfer Service
- Exxon / Gas Station
Property Details for 534 East Garland Street
- Year built
- 1990
- Lot size
- 0.79 lot acres
- Property size
- 6,140 SF
- Property type
- Commercial real estate
- APN
- 044.0046.0204.0000.0000
- APU
- 440046020400000000
Description
This exceptional investment opportunity presents a 3,324-square-foot 7-Eleven convenience store in Grand Saline, Texas, boasting a long-term, absolute NNN lease with zero landlord responsibilities. The property, located at 534 E Garland St, enjoys a prime position along US Highway 80, adjacent to Grand Saline City Park, ensuring high visibility and convenient access. The current lease, commencing June 14, 2020, and expiring June 29, 2035, has a remaining term of approximately 10.6 years. The lease includes three, five-year renewal options, providing significant long-term stability. Rental increases of 7.5% are built into the lease every five years, ensuring consistent income growth. The property's strong financial performance is reflected in its current Net Operating Income (NOI) of $190,000, resulting in a 5.50% cap rate. Projected cap rates are 5.70% in 2025 and 6.10% in 2030. The asking price is $3,454,545, translating to a price per square foot of $1,039.27. This investment benefits from 7-Eleven's investment-grade tenant status (S&P rating "A") and the tax advantages of being located in a state with no income tax. Bonus depreciation benefits further enhance the investment's appeal. This is a rare opportunity to acquire a secure, high-yielding investment property with a nationally recognized tenant in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grand Saline
- County
- Van Zandt
- State
- Texas
- Longitude
- -95.7028
- Latitude
- 32.674
