2319 Texas Avenue S

College Station, TX

Offering Memorandum

Investment Overview

Summary

Sales Price: $3,000,000
Building Size: 7,336 SF
NOI: $180,000
Cap Rate: 6.00%

OLDHAM GOODWIN is pleased to present 2319 Texas Avenue South for your consideration. This 7,336 SF retail building in College Station, TX, is located in a high traffic corridor with direct visibility and exposure to nearly 51,000 cars per day on Texas Avenue. The property benefits from a new ten (10) year NNN lease with a strong franchisee of Big O Tires, an automotive service franchisor of 450+ locations. This franchisee has been in business for 15 years and operates 21 Big O Tires as well as an additional four Harley-Davidson dealerships.

Property Highlights

Less than 2 miles from Texas A&M University

Texas A&M University is the largest university in the state of Texas with over 79,000 students and more than 15,000 faculty and staff

Located in College Stations primary retail corridor with a coveted Texas Avenue address

Target, HEB, Hobby Lobby, Ross, and many other retailers in the immediate area

Located near the heavily trafficked intersection of Harvey Mitchell Parkway (34,789 VPD) and Texas Avenue (32,798 VPD)

Large parcel allows excess parking and future expansion opportunity

NNN Lease structure provides passive income to Landlord with little management responsibility

One (1) additional Ten (10) year extension option

Tenant maintains the site and building, including roof and structure

Bryan/College Station has the highest job growth rate in Texas for mid-sized area

Texas is consistently ranked highly for its business-friendly environment and strong economy

Texas has no State Income Tax

Automotive Repair & Maintenance has a projected 10.1% CAGR through 2032 due to a growing average age of vehicles, more cars on the road, growing demand for preventative maintenance, advancements in technology leading to more complicated systems, among other factors