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Miscellaneous

The Library

407 E 6th St, Austin, TX 78701

Listing Price: Request For Offer

Tenant Name
The Library
Years Remaining On Lease
4.2
Gross SF
8,182
Guarantor
Personal Guarantee
Rentable SF
8,182
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.84

Investment Overview

Marcus & Millichap is pleased to offer for sale 407 East 6th Street, Austin, TX 78701. This 8,182-square-foot property is situated on 0.09 acres of land on historical 6th Street in Downtown Austin. The tenant (more commonly known as The Library) is currently on a NNN master lease, meaning there are no landlord responsibilities for a new owner. The tenant has 4.5 years left on the lease and has annual CPI-U escalations. The entertainment district on East 6th Street between acclaimed Congress Ave and Interstate 35 offers bars, clubs, music venues and shopping destinations for locals and tourists to enjoy. The building is also known as the J.L. Buaas Building, named after John Buaas who built the structure as a mercantile store in 1875. The site is both an Austin Landmark and a recorded Texas Historical Landmark.

Investment Highlights

  • Absolute NNN Lease (No Landlord Responsibilities)
  • Lease Term: 4.5 Years Left on a 10-Year Lease Plus Options to Renew
  • Current Net Operating Income is $244,140 with Annual CPI Escalations
  • Tenant Operates 5+ Bars on 6th Street
  • Personal Guarantee from Tenant on Lease
  • 6th Street Offers 16,011 VPD and Thousands of Pedestrians Daily
  • Strong Demographics - a 34.5 Percent Increase in Population within a Mile of the Site Between 2010-2020 (1-Mile)
  • Annual Household Income of $139,644 (1-Mile)

Exclusively Listed By

Financing By

Listing Price: Request For Offer

Tenant Name
The Library
Years Remaining On Lease
4.2
Gross SF
8,182
Guarantor
Personal Guarantee
Rentable SF
8,182
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.84

Investment Highlights

  • Absolute NNN Lease (No Landlord Responsibilities)
  • Lease Term: 4.5 Years Left on a 10-Year Lease Plus Options to Renew
  • Current Net Operating Income is $244,140 with Annual CPI Escalations
  • Tenant Operates 5+ Bars on 6th Street
  • Personal Guarantee from Tenant on Lease
  • 6th Street Offers 16,011 VPD and Thousands of Pedestrians Daily
  • Strong Demographics - a 34.5 Percent Increase in Population within a Mile of the Site Between 2010-2020 (1-Mile)
  • Annual Household Income of $139,644 (1-Mile)

Investment Overview

Marcus & Millichap is pleased to offer for sale 407 East 6th Street, Austin, TX 78701. This 8,182-square-foot property is situated on 0.09 acres of land on historical 6th Street in Downtown Austin. The tenant (more commonly known as The Library) is currently on a NNN master lease, meaning there are no landlord responsibilities for a new owner. The tenant has 4.5 years left on the lease and has annual CPI-U escalations. The entertainment district on East 6th Street between acclaimed Congress Ave and Interstate 35 offers bars, clubs, music venues and shopping destinations for locals and tourists to enjoy. The building is also known as the J.L. Buaas Building, named after John Buaas who built the structure as a mercantile store in 1875. The site is both an Austin Landmark and a recorded Texas Historical Landmark.

Exclusively Listed By

Financing By

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