Commercial Property: Price: $250,000, Rent: $6,400: Cap Rate: 31%

[Alex Plana]

Commercial property for sale at discounted rate. Normal property value worth $500,000 plus. Existing tenant (Starbucks) with 2 more years on lease.

Commercial Property for Sale:

• Price: $250,000
• Monthly Rent: $6,400
• Cap Rate: 31%
• Property Tax: $13,500
• Insurance: $5,000

Property Overview:

• City: Wichita Falls, TX
• Building Area: 1,750 +/- Square Feet
• Land Area: 0.43 +/- Acres
• Year Built: 2008
• County: Wichita County

Tenant Overview:

• Tenant Name: Starbucks
• Guarantor: Starbucks Corporation
• Primary Lease Terms: 10 years
• Lease Commencement: March 21, 2008
• Lease Expiration: March 31, 2018

[Dax Desai]

I went to school in Wichita Falls so I'm familiar with this property. The problem in that area is land is cheap and these type of building are very cheap to buy. Without that NNN tenant in there this will be a hard sell as an investment. This would make a good owner-occupant purchase however since the location is not too bad.