Agave Azul Mexican Grill & Bar
Absolute NNN Lease Restaurant Building
Property Overview
Summary
- Sales Price: $575,000
- Building Size: 3,400 SF
- NOI $48,000
- Cap Rate 8.35%
OLDHAM GOODWIN is pleased to present 23473 FM 39 in Iola, Texas for your consideration. This newly renovated, single-tenant restaurant property is leased to Agave Azul, a popular Mexican restaurant with a strong local following. The tenant has approximately three years remaining on an absolute net lease, with no Landlord responsibilities. The owner and operator of Agave Azul has extensive experience with restaurant management, and was the general manager of Juan and Linda’s in Anderson, TX for many years. With a great local following and limited competition in the area, Agave Azul is primed for success, and presents a management free, high yield commercial real estate investment opportunity.
PASSIVE INVESTMENT, GREAT LOCATION, POISED FOR GROWTH
- — Brand new three (3) year lease with proven local operator.
- — Absolute NNN lease, limited Landlord management.
- — Tenant pays property taxes direct and carries property insurance.
- — Tenant maintains the site and building, including roof and structure.
- — Situated at the corner of well trafficked intersection, FM 39 and Main Street.
- — Newly renovated building, brand new finish out, built in 2024.
- — Grimes County witnessed a significant population increase of 14.2% between 2000 and 2024.
- — The county charm and highly rated school district of Iola have become a popular lifestyle choice for young families that work in Bryan-College Station.
