923 Main St Fairfield, TX 75840-2200

Property Details for 923 Main St

Year built

1981

Lot size

0.52 lot acres

Property size

11,335 SF

Zone code

AA2

Property type

Commercial real estate

APN

28050-00008-00000-000000

APU

9223372036854775807

Description

This exceptional investment opportunity presents a 4,934 square foot ExxonMobil gas station and convenience store located at 923 E Main St, Fairfield, TX 75840. The property boasts a 20-year absolute NNN lease with zero landlord responsibilities, offering a secure and passive income stream. The lease includes four 5-year option periods, extending the potential lease term to 40 years. Rent increases by 12.5% every five years, providing an attractive hedge against inflation. The property features six gas pumps and sits on a 0.52-acre lot, built in 1981. With a current NOI of $98,500 and an 8.21% cap rate, this single-tenant property offers a compelling return on investment. The strong unit-level sales and attractive rent coverage ratio further enhance its appeal. The property is situated in an affluent neighborhood, with an average household income exceeding $81,600 within a 3-mile radius and over 3,000 households within a 10-mile radius. Fairfield's location midway between Dallas and Houston provides excellent accessibility. This offering qualifies for bonus and accelerated depreciation (consult your CPA). The tenant is a multi-unit operator with both corporate and personal guarantees. The property is offered fee simple. Asking price is $1,200,000 ($243.21/sq ft). This is a truly exceptional opportunity for a long-term, stable investment.