Long Term NNN Kwik Kar in Dallas MSA | 134 E Ovilla Rd
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Long Term NNN Kwik Kar in Dallas MSA 134 E Ovilla Rd
4,884 SF Retail Building Red Oak, TX 75154 $3,514,148 ($720/SF) 5.75% Cap Rate
Investment Highlights
- Qualifies for bonus depreciation
- Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
- Long term ±18 year lease
- Dallas Metro (income tax free state)
- Absolute NNN lease (zero landlord responsibilities)
- Recession resistant business
Executive Summary
INVESTMENT HIGHLIGHTS
• Qualifies for bonus depreciation
• Dallas Metro (income tax free state)
• Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
• Absolute NNN lease (zero landlord responsibilities)
• Long term ±18 year lease
• Recession resistant business
TENANT HIGHLIGHTS
• Kwik Kar has been operating in the market since 1986
• Strong Corporate Guarantor: FullSpeed Automotive oversees ±900 owned and franchised units, generating $300 million in revenue
• FullSpeed Automotive is a subsidiary of MidOcean Partners, a private equity group that operates and invests in consumer and business services
• MidOcean Partners has $7 Billion of assets under management (www.midoceanpartners.com)
LOCATION HIGHLIGHTS
• Located in retail hub encircled by major brands, including Brookshire’s, KFC, Walgreens, CVS, Ace Hardware, Panda Express, Chick-fil-A, Burger King, McDonald’s, Dairy Queen, and Others.
• Outparcel to Walmart Supercenter featuring shared access with prominent national tenants: AutoZone, Dollar Tree, and Anytime Fitness.
• Frontage on Ovilla Rd, a major arterial with immediate access to the I-35 Freeway (±95,189 VPD)
• Red Oak is currently growing at a rate of 7.57% annually and its population has increased by 39.15% since 2020.
• Qualifies for bonus depreciation
• Dallas Metro (income tax free state)
• Annual rent increases at the greater of 2% or CPI up to 6%, a hedge against inflation
• Absolute NNN lease (zero landlord responsibilities)
• Long term ±18 year lease
• Recession resistant business
TENANT HIGHLIGHTS
• Kwik Kar has been operating in the market since 1986
• Strong Corporate Guarantor: FullSpeed Automotive oversees ±900 owned and franchised units, generating $300 million in revenue
• FullSpeed Automotive is a subsidiary of MidOcean Partners, a private equity group that operates and invests in consumer and business services
• MidOcean Partners has $7 Billion of assets under management (www.midoceanpartners.com)
LOCATION HIGHLIGHTS
• Located in retail hub encircled by major brands, including Brookshire’s, KFC, Walgreens, CVS, Ace Hardware, Panda Express, Chick-fil-A, Burger King, McDonald’s, Dairy Queen, and Others.
• Outparcel to Walmart Supercenter featuring shared access with prominent national tenants: AutoZone, Dollar Tree, and Anytime Fitness.
• Frontage on Ovilla Rd, a major arterial with immediate access to the I-35 Freeway (±95,189 VPD)
• Red Oak is currently growing at a rate of 7.57% annually and its population has increased by 39.15% since 2020.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,884 SF
Building Class
B
Year Built
1998
Price
$3,514,148
Price Per SF
$720
Cap Rate
5.75%
NOI
$202,064
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Land Acres
0.48 AC
Zoning
Commercial
Parking
15 Spaces (3.67 Spaces per 1,000 SF Leased)
Frontage
121 FT on East Ovilla Road
PROPERTY TAXES
| Parcel Number | 200238 | Improvements Assessment | $349,490 |
| Land Assessment | $575,510 | Total Assessment | $925,000 |
PROPERTY TAXES
Parcel Number
200238
Land Assessment
$575,510
Improvements Assessment
$349,490
Total Assessment
$925,000
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Long Term NNN Kwik Kar in Dallas MSA | 134 E Ovilla Rd
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