Grapevine, TX - Fast Fuels

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, GPM Investments, LLC investment property located in Grapevine, Texas. The tenant, GPM Southeast, LLC, recently signed a brand new, 10-year lease extension, bringing the remaining lease term 12 years with 2 (5-year) to extend, demonstrating their commitment to the site. The lease features 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 NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor. The property recently underwent renovations valued at approximately $290,000, which included renovations to the asset’s parking areas.

The subject property is located near the intersection of State Highway 121 and Interstate 635 which combine to average over 261,000 vehicles passing by daily. State Highway 121 is the major retail and commuter thoroughfare serving the city of Grapevine. The asset is located approximately 1 mile from Grapevine Mills, a 1.70+ million square foot shopping mall that includes national/credit tenants such as Nike, Legoland, AMC, Neiman Marcus, Chick-fil-A, Chipotle, and many others. The asset is also located in the center of a primary distribution hub that includes distribution centers for companies such as Amazon, McKesson, Boeing, Lowe’s, USPS, The Container Store, and many more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Bass Pro Shops, Target, Main Event, McDonald’s, In-N-Out, Olive Garden, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 172,000 residents and 132,500 employees with an average household income of $161,095.