The subject property is a 5,000-square foot single-tenant building leased to Hibbett Sports in Seminole, Texas. The new 10 year, double-net lease has a corporate guarantee from a publicly traded company (NASDAQ: HBB). The tenant has three, five year options for renewal with rent bumps at the beginning of each option period. Landlord is responsible for roof and structure. The building is new 2015 construction and sits on 0.25 acres.
The subject property is located on the hard corner of West Avenue A and 2nd Street. Avenue A (US Highway 180) is the main east/west thoroughfare through town. The property is located one block west of the Gaines County Courthouse; area retailers include Ace Hardware, Aaron’s, O’Reilly Auto Parts, and Subway. The five mile population is 12,180 with an average household income of approximately $61,400.