Forney, TX - Brakes Plus

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN-leased, Brakes Plus investment property located in Forney, Texas. The tenant, Brakes Plus, LLC, signed a brand-new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.

The Brakes Plus is located near the intersection of US Highway 80 and N FM 548, which combine to average 104,000 VPD. US Highway 80 is the major retail thoroughfare serving the city of Forney. The asset is located in close proximity to a Kroger and Kohl’s anchored retail development with other national/credit tenants such as Crunch Fitness, CAVA, Panera, Torchy’s Tacos, Outback Steakhouse, and many others. In addition, the subject property is also near Mustang Crossing at Forney, a Walmart Supercenter and Lowe’s anchored center with other tenants including Chick-fil-A, Chili’s, Panda Express, and more. The property is in the center
of a primary retail corridor with other nearby national/credit tenants including a Planet Fitness, ALDI, Raising Cane’s, Chipotle, Dutch Bros, Crumbl, and more, further increasing consumer traffic to the site. The subject property is less than a mile from Gateway Forney, a 2,000-acre mixed-use, master-planned development with over 1,850 planned homes in addition to retail, office, and industrial developments. The 5-mile trade area is supported by a population of over 105,400 residents and 13,500 employees. Residents within 3 miles have an average household income of $132,159.

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Listing ID: a28TP000003XQZtYAO