Pricing Analysis
R u nnin g Water Draw P l ai nview, T X
R U N N I N G WAT E R D R AW
Running Water Draw 1701 W 5th St Plainview, TX 79072
OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF
INCOME & EXPENSES
CURRENT
PSF
$2,350,000
Base Rent - Occupied Space
52%
$170,030
$8.55
6.00%
Base Rent - Lease Up Space
48%
-
-
$170,030
$4.44
$140,828
GROSS POTENTIAL RENT
$61 PSF
Expense Reimbursement
Occupancy
52%
Real Estate Taxes
$16,898
$0.44
Year Built
1961
Insurance
$8,747
$0.23
Gross Leasable Area
38,280 SF
CAM
$5,454
$0.14
Acres
2.65 Acres
Management Fee
$1,204
$0.03
Total Expense Reimbursements
$32,303
$0.84
GROSS POTENTIAL INCOME
$202,333
$5.29
EFFECTIVE GROSS INCOME
$202,333
$5.29
Real Estate Taxes
($24,326)
($0.64)
Insurance
($19,000)
($0.50)
CAM
($12,104)
($0.32)
($6,075)
($0.16)
($61,505)
($1.61)
$140,828
$3.68
Expenses
Running Water Draw
Management Fee Total Expenses
NET OPERATING INCOME
WILL SCHUBERT
(949) 933-0195 | WSchubert@SummitRE.io
HUDSON LAMBERT
(602) 930-3833 | HLambert@SummitRE.io
3.00%
R U N N I N G WAT E R D R AW
RENT ROLL Suite
Tenant
Sq Ft
% of SQ FT
Start
End
Annual Rent
PSF
Escalation Date
Escalation Amount
Options
Lease Type
1701
Vacant
9,282
24.25%
-
-
-
-
-
-
-
-
1703
Vacant
5,118
13.37%
-
-
-
-
-
-
-
-
1707
Little Ceasar's
2,800
7.31%
3/1/2013
1/31/2029
$16,800
$6.00
2/1/2027
$17,304
-
NNN+10%AF
1711
Vacant
4,000
10.45%
-
-
-
-
-
-
-
-
1715-1717
Goodwill
7,000
18.29%
2/1/2007
1/31/2032
$57,050
$8.15
-
-
1x5
NNN
1713
Dollar General
10,080
26.33%
11/1/2005
10/31/2031
$95,760
$9.50
-
-
-
NNN+3% CAM
Occupied
19,880
51.93%
$160,560
$17.08
Vacant
18,400
48.07%
Total
38,280
100%
*Analysis Start Date is 12/01/2025 and Takes Into Consideration a 1 Year Hold From This Date
WILL SCHUBERT
(949) 933-0195 | WSchubert@SummitRE.io
HUDSON LAMBERT
(602) 930-3833 | HLambert@SummitRE.io
$170,030*
R U N N I N G WAT E R D R AW
Value Analysis
CONSERVATIVE
ANTICIPATED
AGGRESSIVE
$2,170,000 6.50% Cap
$2,255,000 6.25% Cap
$2,350,000 6.00% Cap
YEAR BUILT 1961
NOI $140,828
STRENGTHS
- Recent Lease Renewals From Dollar General and Goodwill - Value Add Potential for Buyers
CHALLENGES
LEASE TYPES NNN
LOT SIZE 2.65 Acres
QUALIFICATIONS - Summit: Most Active CRE Team in Texas & Surrounding States - Track Record: We Close Transactions - Sold More Than 1,675 Properties - Summit Team Controls the Entire Process - Underwriting & Financial Analysts, Full Marketing Dept, Transaction Coordinators, and Team of Agents to Ensure High Probability of Closing - 100% Cooperation – More Buyers - More Offers = Higher Price - Ability to Source Qualified Debt Thru Peak Capital
- Smaller Market - Older Building
BUYER POOL - Local, Regional, National, & International Private Capital Buyers, Many of Whom are in 1031 Exchanges - Institutional Capital Targeting Quality, Stabilized Real Estate
RECOMMENDATIONS & TIMING - Sell Now to Take Advantage of the Current Market Before Interest Rates Increase Further and Capitalize on 1031 Buyers - If Awarded the Assignment, We Can Be on the Market Within One Week and Closed Within Our Average List-to-Close Time Frame of 5-6 Months
Market Insight
Results
iCLIMB
Snapshot
Our Track Record
Based in Texas
Our Team
SummitRE.io
Dallas, TX Houston, TX Costa Mesa, CA
(972) 860-9950