- Brand New 10-Year Corporate NN Lease – CarLotz (NASDAQ: LOTZ)
- 3.00% Annual Increase During the Primary and Option Terms
- Three (3) Five-Year Options with No Early Termination Option
- Texas Is an Income Tax Free State!
- Strategic Location at the NWC of President George Bush Turnpike and Preston Road in Plano, TX, Two of the Main Thoroughfares in the Market
- New Power, New Roof, & Extensive Renovation – September 2021
- Traffic Counts in Excess of 23,500 Vehicles Daily
- Dense Market with Over 119,517 Residents and 83,624 Employees Within a Three-Mile Radius and Average Household Incomes Of $132,177
- 12 Grade Level Doors, Fully Sprinklered with 15 Fully Operation Lifts and 3 Wash Bays
- Pressurized Water & Floor Drains and Pressurized Air Lines / Exhaust Hoses Throughout
- Fully Paved and Secured Parking.
DB2RE INVESTMENT SALES is proud to present the opportunity to acquire CarLotz (the “Property”) located at 1001 Preston Road in Plano, Texas. The Property, scheduled for opening September 2021, boasts the latest state-of-the-art remodel from CarLotz and consists of a six buildings totaling 62,519 square feet and situated on 5.75 acres of land. The tenant, CarLotz (corporate guarantee), provides investors with a fantastic 10-year NN lease that includes three 5-year options. The lease boasts advantageous annual rent increases of 3.00% in both the primary and option terms. With virtually zero landlord responsibilities, the offering is an ideal, management free investment opportunity for passive investors and/or 1031 buyers seeking core properties with a stable revenue stream.
Strategically positioned at the hard northwest corner of Preston Road and President George Bush Turnpike in Plano, the two primary arteries in the market, CarLotz is located within the heart of the DFW Metroplex has excellent visibility and access to over 272,336 vehicles daily. Surrounding the property are tremendous densities with 119,517 and 361,098 residents and 83,624 and 285,380 employees across 5,573 and 14,913 businesses within a 3 and 5 mile radius. Furthermore, average household incomes are a staggering $132,177 and $119,158 within the same 3 and 5 mile radii, perfect for CarLotz. New Ownership will not only enjoy this STNL investment with over $642K in net income each year, but will also be purchasing a once-in-a-generation asset in the core of the DFW Metroplex.
NWC of PGBT and Preston Rd | Plano, TX