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Aspen Creek Ground Lease, Amarillo, TX

Aspen Creek Ground Lease

TX, United States

Price $3,467,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type NNN, with Tenant Responsible for Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parkling Lot Replacement
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2015
Building Size 7,573 SF
Lot Size 1.81 Acres (78,888 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Texas-licensed real estate broker Delta Commercial.

Investment Highlights

LONG-TERM NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» New, 15-year ground lease with 10% rental increases every 5 years
» Scheduled rent increases provide a hedge against inflation

STABLE NNN INVESTMENT WITH NO MANAGEMENT RESPONSIBILITIES
» Tenant is solely responsible for all taxes, utilities, and maintenance, providing a passive investment
» Ideal, low-management investment for an out-of-state investor

EXCELLENT VISIBILITY AND ACCESS FROM HEAVILY TRAFFICKED INTERSTATE 40
» The property has frontage on Interstate 40, Amarillo’s major east-west arterial
» Excellent visibility and access
» Traffic count of 77,207 vehicles per day in front of the site

NEW CONSTRUCTION
» Building was built by Tenant at Tenant’s expense, demonstrating their long term commitment to the location
» Latest Aspen Creek design/prototype
» New, high-quality construction


Property Description

SOLD

The subject property is located on Interstate-40 (I-40) Frontage Rd, just off of I-40, Amarillo’s major east-west thoroughfare. The site is visible from I-40, which boasts an impressive annual average daily traffic count of 77,207 vehicles past the site. Surrounding the property are national tenants, McDonald’s, Subway, Wendy’s, Taco Bell, McAlister’s Deli, Chili’s, Papa Murphy’s, Cheddar’s, Olive Garden, and IHOP. Across the freeway from the subject property is Western Crossing, a mall anchored by nationally-recognized retailers, Petco, Burlington Coat Factory, and Michaels. The site is surrounded by heavy residential communities as well as a number of school campuses, including the 2,265 student Tascoa High School, which is directly across the street from the site.

Contact Us About This Property

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