Killeen, TX - Aspen Dental & Mattress Firm 2202 South WS Young Drive, Killeen, TX Cap Rate 7% Killeen TX (Centerton, Arkansas, US ) Built

$3,232,000 USD
Dollars

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  • Type: Commercial
  • Style: Commercial
  • Size: 6,955 sq. ft.
  • Development Level: Built
  • Year Built: 2013

Description

Killeen, TX - Aspen Dental & Mattress Firm 2202 South WS Young Drive, Killeen, TX Cap Rate 7%

Cap Rate 7%
NOI $226,219
Building Size 6,955 sqft
Occupancy 100%

Price: $3,232,000 USD

DESCRIPTION

Pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a two-tenant, NNN leased, freestanding, Aspen Dental & Mattress Firm investment property located in Killeen, Texas. Aspen Dental Management, Inc. currently has more than 4 years remaining in their current lease term with 3 (5-year) options to extend. The lease features a 10% rental increase at the beginning of each option period, growing NOI and hedging against inflation. The other tenant, Mattress Firm, Inc., currently has more than 4 years remaining in their initial term with 2 (5-year) options to extend. The lease features an increase of $7.74 PSF/Yr at the beginning of the first option and a 10% rental increase at the beginning of the subsequent option. The leases are corporate guaranteed and NNN with landlord responsibilities limited to roof and structure.

The subject property is strategically located along South WS Young Drive, a primary retail and commuter thoroughfare averaging 21,700 vehicles passing by daily. The site benefits from nearby direct on/off ramp access to Interstate 14 (83,000 VPD), the primary east/west freeway serving Killeen. The asset is ideally situated as an outparcel to Killeen Mall, a 557,000 SF regional mall anchored by Dillard’s, JC Penney, and Burlington. Killeen Mall caters to a diverse and family-oriented market, featuring over 86 retail, dining, and entertainment options. In addition, the mall is positioned across from a 24-hour Walmart Supercenter and Lowe’s Home Improvement, significantly increasing consumer draw to the immediate area and promoting crossover store exposure for the site. Positioned in the heart of an immense retail corridor, Aspen Dental & Mattress Firm is within close proximity to a variety of other national/credit tenants including The Home Depot, Ross Dress for Less, Sam’s Club, Hobby Lobby, OfficeMax, Walgreens, Aldi, Best Buy, and more. Moreover, the property is surrounded by several apartment complexes including Village at Fox Creek (128 units), Grandon Manor (144 units), Keystone (212 units), and Ridgepoint (96 units), providing for a direct residential consumer base from which to draw. The 5-mile trade area is supported by nearly 188,000 residents and 41,000 daytime employees with an average household income of $62,500.

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
# ID de Propiedad: 358038156
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

P2#436639549
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Information is deemed to be correct but not guaranteed.