1015 N Main St - Restaurant FOR SALE


Vidor, TX 77662- West Orange
$1,907,775 USD
713-459-1333
1015 N Main St, Vidor, TX for Sale
$1,907,775 USD
Restaurant - FOR SALE
1/10
null | 8% Cap Rate

1015 N Main St
Vidor, TX 77662
West Orange


HIGHLIGHTS

  • Absolute NNN Lease Restaurant: No Landlord Responsibilities
  • New 10 Year Term: Great Sales
  • Annual Increases of 1.5 Percent: One Ten Year Option
  • Located Near Interstate 10 (72,800+ Vehicles Per Day) on North Main Street (27,400 Vehicles Per Day) | Fronts the Main Retail Thoroughfare in Vidor
  • National Retailers Nearby

OVERVIEW

Marcus & Millichap is pleased to exclusively list for sale a freestanding, absolute triple-net restaurant located at 1015 North Main Street in Vidor, Texas. The 3,874-square-foot building is situated on approximately 1.21 acres. The Property, known as Casa Olé Vidor, is located on the main retail throughfare in Vidor and is close to Interstate 10. Casa Olé is on an absolute triple-net lease, which provides a buyer with a hands-off investment. There is approximately nine years of lease term remaining. The tenant’s lease agreement is guaranteed by Mexican Restaurants, Inc., who owns five brands and over thirty locations across three states. Placer.ai ranks the Property in the top 86 percent of Casa Olé locations nationwide. Casa Olé Vidor is listed for sale at an 8 percent cap rate. A buyer’s return will increase overtime due to annual rent increases of 1.5 percent. Tenant has one 10-year option with the same 1.5 percent annual increases. Nearby retailers include: McDonald's, Popeyes, Whataburger, Burger King, Domino's, and Dairy Queen.

FOR SALE DETAILS

PRICE

$1,907,775 USD

PRICE/SF

$492 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Casa Olé - Vidor, Texas

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

1.21 AC

LAND SF

52,708 SF

ZONING

C

APN/PARCEL ID

008094-002764

ASK ABOUT THIS PROPERTY

Gus LagosMarcus & MillichapMore Info
713-459-1333

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Gus LagosMarcus & MillichapMore Info
713-459-1333

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.