Brakes Plus, Highland Village, Texas

2370 Justin Rd no-imageVIEW MAP

Property Information

Price: $3,200,000

Cap Rate: 5.50
NOI: $176,000
Lease Term: 15 Years
Lease Type: Absolute NNN
Building Size: Approximately 4,900 Square Feet
Year Built: 2024
Status: Available
Lead Broker Information:

Randy Bell


Property Description

Investment Highlights

  • Brand-New 15 Year Absolute NNN Lease – Stable Cash Flow Asset – Zero Landlord Responsibilities – Five (5-Year) Options to Renew
  • 7.5% Rent Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • Corporately Guaranteed Lease by Brakes Plus, LLC – Brakes Plus is a Best in Class, Leading Automotive Service Tenant Founded in 1990 That Operates More Than 145 Locations in 6 States
  • New Construction, Pride of Ownership Asset Featuring Brakes Plus’s Latest Prototype Design – a Modern and Aesthetically Pleasing Property
  • Intrinsic Value Asset – Large Format Automotive Service Center at 4,900 Square Feet on a Sizeable 0.62 Acre Parcel Containing 18 Parking Spaces & 8 Drive-In Service Bays, Providing Brakes Plus with the Ability to Effectively Handle High Customer Volume
  • High Traffic Location – More Than 36,000 Vehicles Per Day on Justin Rd (FM-407), Over 15,000 Vehicles Per Day on Morriss Rd & an Additional 45,282 on Nearby Long Prairie Rd (FM-2499)
  • Densely Populated, Infill Location with Excellent Demographics – Over 189,000 People in a 5-Mile Radius with Average Household Income Exceeding $223,000 within a 1-Mile Radius of the Property
  • Over 1.05 Million Square Feet of Industrial & Office Space and 20.2 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 9,200 Businesses & 59,000 Employees
  • Strategically Positioned Across from The Highlands & Shops at Flower Mound Shopping Centers That Bring Daily-Needs Consumers Directly to the Trade Area – More Than 4.2 Million Combined Visits to the Centers Over the Prior Calendar Year
  • Approximately 0.9-Miles from Flower Mound Marcus High School with More Than 3,000 Students Currently Enrolled
  • Tremendous Multi-Family Density with Over 5,300 Apartment Units in a 5-Mile Radius of the Property
  • Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset