JUPE MOTOR SUPPLY INC (AMARILLO, TX)

SALE LEASEBACK

412 S VAN BUREN STREET, AMARILLO, TX 79101
Price :
$ 553,000
Cap Rate :
12.00%
NOI :
$ 66,380
Lot Size :
0.78 acres
Year Built :
1962
Property Area :
13,276 sqft
Status :
AVAILABLE
MARKETING PACKAGE

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

Investment Highlights

• 13,276 Square-Foot Industrial Asset on 0.78 Acres of Land
• Brick Construction with Showroom Space, Four Grade-Level Doors, and Central Business Zoning
• Short-Term Leaseback Gives Investor Ample Time to Replace Tenant or for Owner-User to Plan Their Occupancy
• Sale Includes Additional Lot Just South of Building, Providing Convenient Tenant Parking
• Located in the Northwest Zone of Downtown Amarillo, One Block from Amarillo’s Business and Financial Sector
• The Northwest Zone has Excellent Potential for Redevelopment Due to Its Convenience and Walkability to the Downtown Core

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 412 South Van Buren Street in Amarillo, Texas leased to Jupe Motor Supply Inc. The subject property consists of approximately 13,276 square feet of space and is situated on 0.78 acres of land. The subject property features brick construction with showroom space, four grade-level doors, and central business zoning. The sale includes an additional lot just south of the building, providing convenient tenant parking. The short-term leaseback with Jupe Motor Supply, Inc. gives an investor ample time to replace tenant or for an owner-user to plan their occupancy. The asset is located one block from Amarillo’s business and financial sector and in the northwest zone of Downtown Amarillo with excellent potential for redevelopment due to its convenience and walkability to the downtown core.

The recommended urban design standards for Downtown (DAUDs) were adopted in 2010 ensuring that new development and redevelopment adheres to high standards of urban design. The Standards were amended on November 25, 2014. These standards have created a much more livable and walkable Downtown. DAUDs incorporate landscaping, sidewalk treatment, proper ground level uses and design, urban furniture (benches, lighting, pocket park areas, etc.) into all new and significant redevelopment. The standards give investors confidence that their quality developments will be protected and carried out by future investors adjoining property owners and investors. Plans are to continue work with the DAI, Center City, and the City to determine that the Standards remain appropriate and economically feasible. (Downtown Amarillo Strategic Action Plan)

Part of the Great Plains and the largest city in the Texas Panhandle, Amarillo had its beginnings in 1887, when the Fort Worth-Denver City railroad was constructed across the Texas Panhandle. Centrally located in the Texas Panhandle and bordered by New Mexico and Oklahoma, Amarillo’s economic history was closely tied to agriculture and the energy industry. These days businesses such as copper refining, fiberglass production, meat packing, ordnance manufacturing, customer service operations, and aircraft assembly operations have diversified the city’s economy. Serving
as a regional medical center also plays a key role in Amarillo’s economy. Today, Amarillo is home to 190,695 (per 2010 Census) people and always welcomes newcomers. Amarillo is a strong community of neighborhoods; proud of the quality of life assets available to residents and visitors alike. (Amarillo.gov)

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap. All rights reserved. (Activity ID: ZAA0061013)

Exclusive Listing

Davis Cagle
(972) 755-5230
Lic # TX : 722097
Adam Abushagur
(972) 755-5223
Lic # TX : 661916

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