Marcus & Millichap is pleased to offer the opportunity to acquire a 37,500-square foot, single-tenant Shopko Hometown in Kermit, Texas. Originally constructed as an Alco store in 1985, the building was retrofitted in 2015. The triple-net lease has a corporate guarantee from Shopko Stores Operating Co., LLC. Approximately five years remain on the term, and the tenant has three five-year options for renewal with 3.75 percent rent increases scheduled at the beginning of each renewal period.
The subject property is located on the north side of Texas Highway 302 (Jim Sharp Boulevard), the towns major east/west thoroughfare. Traffic counts are approximately 6,000 vehicles per day in front of the property. Other retailers in the surrounding area include Jerries Caf, Kermit Inn, Pizza Hut, Huddle House, Allsups Convenience Store, Family Dollar, Dairy Queen, Sonic, Budget Inn, and Southern Inn & Suites. Kermit Junior High School and Kermit High School are directly north of the property, and Winkler County Memorial Hospital is approximately one-half of a mile to the west.
- 37,500-Square Foot Single-Tenant Opportunity
- Triple-Net Lease with a Corporate Guarantee
- Guarantor is a $3 Billion Retailer, Operating Over 330 Stores in the United States
- Tenant Reports Strong Sales and has an Exclusive Right for a Future Pharmacy, Providing Upside
- Approximately Five Years Remain on the Term
- Tenant has Three Five-Year Renewal Options with 3.75 Percent Rent Increases
- Priced at $34.64 Per Square Foot | Below Replacement Cost
- Located on Texas Highway 302, the Town’s Major East/West Thoroughfare