Brakes Plus Hudson Oaks

Purchase Price: $3,114,285

NOI: $163,500

Cap Rate: 5.25%

Lease Term: 15 Years

Lease Start: Est. October 2023

Lease Expiration: Est. October 2038

EXECUTIVE SUMMARY

• Brand-New 15 Year Absolute NNN Lease – Stable Cash Flow Asset – Zero Landlord Responsibilities – Five (5-Year) Options to Renew.
• 7.5% Rent Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation.
• Corporately Guaranteed Lease by Brakes Plus, LLC – Brakes Plus is a Bestin Class, Leading Automotive Service Tenant Founded in 1990 That Operates More Than 150 Locations in 6 States.
• New Construction, Pride of Ownership Asset Featuring Brakes Plus’s Latest Prototype Design – a Modern and Aesthetically Pleasing Property.
• Intrinsic Value Asset – Large Format Automotive Service Center at 4,900 Square Feet on a Sizeable 1.01 Acre Parcel Containing 29 Parking Spaces & 8 Drive-In Service Bays, Providing Brakes Plus with the Ability to Effectively Handle High Customer Volume.
• High Traffic Location – Over 25,000 Vehicles Per Day on Fort Worth Hwy (US 180), More Than 7,300 Vehicles Per Day on N. Oakridge Drive & an Additional 89,629 Vehicles Per Day on Nearby Interstate-20.
• Densely Populated, Infill Location with Excellent Demographics – Over 40,000 People in a 5-Mile Radius with Average Household Income Exceeding $127,000 within a 3-Mile Radius of the Property.
• Over 1.9 Million Square Feet of Industrial & Office Space and 3.6 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 2,000 Businesses & 14,000 Employees.
• Strategically Positioned Adjacent to a Walmart Supercenter That Has Seen More Than 1.63 Million Visits Over the Last Calendar Year.
• Approximately 1-Mile from a HEB Grocery Store That Has Seen Over 1.87 Million Visits Over the Last Calendar Year.
• Strong Multi-Family Density with Over 3,900 Apartment Units in a 5-Mile Radius of the Property.
• Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset.

PROPERTY DESCRIPTION

• Address: 2809 Fort Worth Hwy Hudson Oaks, TX 76087
• County: Parker County
• Parcel ID: R000102220
• Land Size: Approximately 1.01 Acres
• Access: Via Fort Worth Hwy (US-180)
• Signage: Monument & Building Signage
• Year of Construction: 2023
• Building Size: Approximately 4,915 Square Feet
• Parking: 29 Parking Spaces On Site
• Drive-In Bays: 8 Total Bays
• Drive Areas: Concrete Pavement, Concrete Curbs
• Zoning: GC-General Commercial

LEASE SUMMARY

• Tenant Name: BRAKES PLUS, LLC
• Property Location: 2809 Fort Worth Hwy Hudson Oaks, TX 76087
• Lease Start: Estimated October 2023
• Lease Expiration: Estimated October 2038
• Lease Type: Absolute NNN Lease
• Landlord Responsibilities: None
• Base Lease Term: 15 Years
• Renewal Options: Five (5) Additional (5-Year) Options to Renew
• Rental Increases: 7.5% Bumps Every 5 Years