Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru equipped, freestanding HTeaO investment property located in Paris, Texas. The tenant recently signed a brand new 10-year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features an approximate 6% rental increase during the initial term and 10% rental increases 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. HTeaO is a growing and popular beverage company with over 125 locations. The site features brand-new construction with state-of-the-art amenities and a modern design.

HTeaO is strategically located along Lamar Avenue, an arterial throughfare that serves over 20,000 vehicles per day. Furthermore, the site benefits from nearby access to State Highway 286 (29,200 VPD), making this an ideal centralized location with easy commutes. The asset is ideally situated within walking distance of Paris Towne Center, a 300,000 square foot community center that’s tenant lineup includes Hobby Lobby, Aldi, Ross, Big Lots, Hibbett Sports, and more. Other nearby national/credit tenants include Home Depot, Walmart Supercenter, Petco, Harbor Freight, Walgreens, CVS, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and supports crossover tenant exposure to the site. Moreover, the site is situated among multiple apartment complexes including The Spanish Oaks Apartments (116 units), Pine Creek Apartments (136 units), The Greenbriar Apartments (96 units), and more, providing a direct residential consumer base from which to draw. The 5-mile subject trade area is supported by more than 29,000 residents and 18,000 daytime employees who earn an average household income of more than $61,000.

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