Petro Max C-Store & Car Wash | 101-107 E Highway 31
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Petro Max C-Store & Car Wash 101-107 E Highway 31
6,044 SF Retail Building Dawson, TX 76639 $6,533,333 ($1,081/SF) 7.50% Cap Rate
Investment Highlights
- Long Term-Absolute NNN Lease
- Strong Rent Coverage Ratios Boosted by Subway Sublease
- Property Offers High-Speed Diesel
- Experienced & Successful Operator
- Affluent Strategic Location Within the Texas Triangle
- Attractive Annual Rent Bumps & Renewal Option Periods
Executive Summary
Northmarq proudly presents an exceptional investment opportunity: the Petro Max Convenience Store located in the tax-free state of Texas at 107 E. Highway 31, Dawson, Texas. This property is master leased and guaranteed by Petro Max, an operator of 48 convenience stores throughout Texas, Colorado, and Kansas. The property boasts a healthy 7.2% rent-to-sales ratio. In addition to the store's annual revenue, a portion of the property has been subleased to Subway through May 2028, which helps offset the rent costs. See full OM for details.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,044 SF
Building Class
C
Year Built
1987
Price
$6,533,333
Price Per SF
$1,081
Cap Rate
7.50%
NOI
$490,050
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.76 AC
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $526,130 | |
| Land Assessment | $76,450 | Total Assessment | $602,580 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$76,450
Improvements Assessment
$526,130
Total Assessment
$602,580
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Petro Max C-Store & Car Wash | 101-107 E Highway 31
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