MARTIN SADDLERY (GREENVILLE, TX)

SALE LEASEBACK

6120 HIGHWAY 66, GREENVILLE, TX 75402
Price :
$ 1,700,000
Cap Rate :
10.00%
NOI :
$ 170,400
Lot Size :
5.24 acres
Year Built :
1980/2007
Property Area :
41,684 sqft
Status :
AVAILABLE
MARKETING PACKAGE

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

 

Investment Highlights

• Seller is Committed to a Brand New Five-Year Triple-Net Lease with 2.5% Annual Rental Increases
• Subject Asset is Located Directly Off Highway 66 and is Proximate to U.S. Route 380 Providing Easy Access and Great Visibility
• Subject Asset is Located Within an Opportunity Zone
• One Dock High Door, Four Drive-In Grade Level Doors and Nine HVAC Units
• Below-Average Submarket Vacancy: 4.80% Reported by CoStar
• High-Traffic Corridor Along Highway 66: 65,142 Vehicles per Day Reported by CoStar

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 6120 Highway 66 in Greenville, Texas, leased to Martin Saddlery. The subject property consists of approximately 41,684 square feet of space and is situated on 5.24 acres of land. The subject property is located directly off Highway 66 and is proximate to U.S. Route 380, providing easy access and great visibility. The asset features one dock-high door, four drive-in grade-level doors, nine HVAC units, and is located within an opportunity zone. With below-average submarket vacancy of 4.80 percent (CoStar), the property is located along a high-traffic corridor with a 65,142-vehicle count per day (CoStar). The seller is committed to a five-year triple-net lease with 2.5 percent annual rental increases.

Martin Saddlery is located in Greenville, Texas, and originally focused on the opportunity in the marketplace to produce saddles and strap goods for retailers. They consider Martin Saddlery to be a custom saddlery, and many of their customers are high-end saddle shops. Martin makes their own saddletrees, uses Hermann Oak Leather, real sheepskin, and controls all levels of production. The 40,000-square-foot facility produces about 50 saddles a week. They also produce strap goods, leather horse boots and mohair cinches (equineinfoexchange.com).

The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.1 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 800,000 residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the region’s transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metros numerous corporations and growing industries. Dallas/Fort Worth’s population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 21 Fortune 500 companies and many regional headquarters, drawing workers and residents. The area’s extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.

 

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: ZAA0060313)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916
Sam Martin
(972) 755-5198
Lic # TX : 707514

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