Taylor Dental & Braces
$812,000
920 N Main St, Taylor, TX 76574
Cap Rate
7.50%
Square Feet
3462
Year Built/Renovated
1970
INVESTMENT HIGHLIGHTS
• Attractive 7.5 Percent Cap Rate
• Long Term Tenancy History of Over 20 Years
• Triple-Net Lease
• Seller States New Roof Installed in 2022
• No State Income Tax
• 10 Percent Rent Increases Upon Each Option Period
PROPERTY DESCRIPTION
Marcus & Millichap is pleased to exclusively offer for sale Taylor Dental & Braces, a dental clinic located at 920 Main Street in Taylor, Texas that has occupied the premises for over 20 years. The freestanding medical building is occupied by one tenant on a triple-net lease. The subject property is offered for sale for $812,000, at a 7.5 percent cap rate.
The net lease has more than four and a half years remaining. The gross leasable area is 3,462 square feet, situated on 0.42 acres. Should the tenant renew its lease in March 2030, the annual rent will increase from $60,931 to $67,024, which will increase the cap rate to 8.25 percent.
The landlord’s only expense responsibilities pertain to roof, structure, and parking lot. The seller states that the entire roof was replaced in 2022, which includes a ten-year labor warranty, minimizing any future landlord expenses at the property.
