FIMC Realty is pleased to offer an 11,000 foot net leased building for sale in Canyon, Texas. At $2,750,000 the property is being sold debt free at a capitalization rate of 6%. The property is occupied by a brand new AutoZone 10 year lease with a rent bump in year five, with five year leases on Cloud Nails & Spa and an ATT Retail store. The property is located directly across the street from West Texas A&M University, a growing regional university started 110 years ago, with over 10,000 students excelling in wind energy, business, engineering, agriculture, veterinary sciences, communications, and nursing curriculums. Recently the University completed an 8,500 capacity football stadium and a $20,000,000 dollar sports complex both located just east of the subject property.
Canyon is the county seat for Randall County and is just 18 minutes away from downtown Amarillo, a city with a population of over 200,000 offering a variety of employment opportunities and entertainment venues. Canyon is home to the Palo Duro Canyon State Park, the nation’s second largest canyon, drawing 400,000 annual visitors to the region. Canyon is also home to the Panhandle Plains Historical Museum, the state’s largest historical museum, drawing 55,000 visitors annually.
The subject property is located on the main north south street through town and is the business route of I-27 going through Canyon. The property is shadow anchored by United Groceries, a very successful regional grocery chain. The property is located in a PUD with the United Grocery Store, Dominos, T-Mobile and a 5,400 foot Northwest Texas Health Care System medical clinic.