Department Store
Aaron's | VERY Low Base Rent
111 NE Ave K, Andrews, TX 79714
Listing Price: $646,500
Cap Rate
7.35%
Tenant Name
Aaron's
Years Remaining On Lease
5.5
Guarantor
Corporate Guarantee
Rentable SF
12,000
Lease Type
Absolute Net
Rent Per Square Feet
$3.96
Investment Overview
AARON’S
• 1,200+ LOCATIONS IN 47 STATES AND CANADA
• PURCHASED BY IQVENTURES HOLDINGS, LLC IN 2024 AT A $504 MILLION VALUATION
• FOUNDED IN 1955
Aaron's | VERY Low Base Rent
Investment Highlights
- CORPORATE LEASE WITH AARON'S, LLC
- RECENTLY EXTENDED LEASE | 5.5+/- YEARS REMAINING
- EXTREMELY LOW BASE RENT | UNDER $4 PER SQUARE FOOT
- PRICED UNDER $54 PER SF | WELL BELOW REPLACEMENT COST
- 10% RENTAL INCREASES EVERY 5 YEARS
- ABSOLUTE TRIPLE NET LEASE (NNN) | NO LANDLORD EXPENSES
- TENANT RENOVATED THE PROPERTY AT THEIR OWN EXPENSE IN 2024
- STRONG PERFORMING STORE PER PLACER.AI | ONLY AARON'S WITHIN 30 MILES
Exclusively Listed By
Broker of Record
-
Tim Speck
Executive Managing Director / Chief Revenue Officer
Listing Price: $646,500
Cap Rate
7.35%
Tenant Name
Aaron's
Years Remaining On Lease
5.5
Guarantor
Corporate Guarantee
Rentable SF
12,000
Lease Type
Absolute Net
Rent Per Square Feet
$3.96
Investment Highlights
- CORPORATE LEASE WITH AARON'S, LLC
- RECENTLY EXTENDED LEASE | 5.5+/- YEARS REMAINING
- EXTREMELY LOW BASE RENT | UNDER $4 PER SQUARE FOOT
- PRICED UNDER $54 PER SF | WELL BELOW REPLACEMENT COST
- 10% RENTAL INCREASES EVERY 5 YEARS
- ABSOLUTE TRIPLE NET LEASE (NNN) | NO LANDLORD EXPENSES
- TENANT RENOVATED THE PROPERTY AT THEIR OWN EXPENSE IN 2024
- STRONG PERFORMING STORE PER PLACER.AI | ONLY AARON'S WITHIN 30 MILES
Investment Overview
AARON’S • 1,200+ LOCATIONS IN 47 STATES AND CANADA • PURCHASED BY IQVENTURES HOLDINGS, LLC IN 2024 AT A $504 MILLION VALUATION • FOUNDED IN 1955
Exclusively Listed By
Broker of Record
-
Tim Speck
Executive Managing Director / Chief Revenue Officer
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