Shopping Strip

Richard Milburn Academy

4100 SW 51st Ave, Amarillo, TX 79109

Listing Price: $925,000

Cap Rate
10.03%
Gross SF
12,800
Rentable SF
12,800
Price/Gross SF
$72.27
Lot Size
0.69 acres
Year Built
1964

Investment Overview

The subject property is a 12,800-square foot, single-tenant building leased to Richard Milburn Academy in Amarillo, Texas. The tenant has occupied the building since 2011 and has four years remaining on the term. The lease is on gross terms with no renewal options and has a corporate guarantee. The Academy has a total of nine campuses in the state of Texas, located in Corpus Christi, Fort Worth, Houston, Killeen, Lubbock, Midland, Odessa, Pasadena, and Amarillo. The building was originally constructed in 1964 and is situated on a 0.69-acre lot.

Investment Highlights

  • 12,800-Square Foot, Single-Tenant Building Leased to a Tuition-Free Public Charter School
  • Gross Lease with a Corporate Guarantee
  • Tenant has Approximately Four Years Remaining on the Term | No Options for Renewal
  • Operator of Nine Campuses in the State of Texas: Amarillo, Corpus Christi, Fort Worth, Houston, Killeen, Lubbock, Midland, Odessa, Pasadena

Exclusively Listed By

Shopping Strip

Richard Milburn Academy

Listing Price: $925,000

Cap Rate
10.03%
Gross SF
12,800
Rentable SF
12,800
Price/Gross SF
$72.27
Lot Size
0.69 acres
Year Built
1964

Investment Highlights

  • 12,800-Square Foot, Single-Tenant Building Leased to a Tuition-Free Public Charter School
  • Gross Lease with a Corporate Guarantee
  • Tenant has Approximately Four Years Remaining on the Term | No Options for Renewal
  • Operator of Nine Campuses in the State of Texas: Amarillo, Corpus Christi, Fort Worth, Houston, Killeen, Lubbock, Midland, Odessa, Pasadena

Investment Overview

The subject property is a 12,800-square foot, single-tenant building leased to Richard Milburn Academy in Amarillo, Texas. The tenant has occupied the building since 2011 and has four years remaining on the term. The lease is on gross terms with no renewal options and has a corporate guarantee. The Academy has a total of nine campuses in the state of Texas, located in Corpus Christi, Fort Worth, Houston, Killeen, Lubbock, Midland, Odessa, Pasadena, and Amarillo. The building was originally constructed in 1964 and is situated on a 0.69-acre lot.

Exclusively Listed By

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