Spec’s, Giddings, Texas

1920 E. Austin Street no-imageVIEW MAP

Property Information

Price: $2,697,000

Cap Rate: Confidential - "Contact Broker for Information"
NOI: Confidential - "Contact Broker for Information"
Lease Term: 10 Years
Lease Type: Modified NNN
Building Size: Approximately 8,700 Square Feet
Year Built: 2022
Status: Available
Lead Broker Information:

Randy Bell



Property Description

Land Size: Approximately 0.98 Acres

Investment Highlights

  • Brand New 10 Year Modified NNN Lease – Stable Cash Flow Asset – Minimal Landlord Responsibilities – Two (5-Year) Options to Renew
  • Rent Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • Best in Class Tenant – Spec’s Wine, Spirits & Finer Foods is a Leading, Family-Run and Highly Successful Franchise That Operates More Than 165 Locations Throughout Texas, Making it the Largest Spirits Retailer in the State
  • Strong Demographics – Over 7,700 People in a 5-Mile Radius of the Property with Average Household Income Exceeding $59,000
  • High Traffic Location – More Than 19,000 Vehicles Per Day on E. Austin Street (US-290) and Over 10,000 Vehicles Per Day on Nearby US-77
  • Strategically Positioned Next to a Walmart Supercenter, Which Has Averaged 42,383 Visits Per Month During the Last Calendar Year
  • Located Adjacent to a High-Volume Buc-ee’s Convenience Store, Which Has Averaged 29,125 Visits Per Month During the Last Calendar Year
  • Positioned in the Main Trade Area of Giddings – Surrounded by Many National Retailers Including Whataburger, McDonald’s, Taco Bell, Burger King & Tractor Supply and is within a 2-Mile Radius of Seven Hotels That Have 260 Combined Rooms
  • Over 376,000 Square Feet of Industrial & Office and 598,000 Square Feet of Retail & Restaurant Space in a 5-Mile Radius of the Property
  • High Daytime Population with More Than 3,800 Employees within a 5-Mile Radius of the Property
  • Within a 2-Mile Radius of Three Primary Schools That Have a Combined Enrollment Exceeding 1,600 Students
  • Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset