435 Fayette Ave S
Newly constructed dual drive-thru 7 Brew Coffee in Brownwood, Texas, offered at $1,683,000 at a 6.00% cap ($101,000 NOI). The single-tenant asset is secured by a 15-year absolute NNN ground lease with 10% rent increases every five years and zero landlord responsibilities. The structure is fully passive and management-free, which suits out-of-state and 1031 buyers.
Built in 2025, the 510 SF building sits on a 44,431 SF (1.02-acre) C-1 parcel with 12 parking spaces along Commerce Street (US-84/US-377), Brownwood's primary commercial corridor. The trade area is anchored by Walmart Supercenter, Home Depot, and United Supermarkets, with neighboring national QSR brands such as Chick-fil-A, McDonald's, Whataburger, and Starbucks. About 36,000 residents live within ten miles.
- 15-year absolute NNN ground lease with zero landlord responsibilities
- 10% rent increases every five years
- New 2025 construction, dual drive-thru
- Leased-fee ownership; passive, 1031-eligible income
- Anchored corridor alongside Walmart Supercenter and Home Depot
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- 0.71-acre development land in Salt Lake City's Granary District, priced at $3,200,000. The site is zoned MU11 and entitled for a six-story multifamily building with 100 residential units, at approximately $32,000 per unit cost. A five-year lease with termination rights generates $102,000 NOI, providing income to offset holding costs while development plans are finalized.
- Located at 435 Fayette Avenue, the property sits within the Granary District's established residential neighborhoods and downtown amenities. The site is well positioned for either a Low-Income Housing Tax Credit (LIHTC) project or market-rate multifamily development, offering an opportunity to participate in the continued growth of this mixed-use neighborhood.
- Highlights:
- 0.71-acre MU11-zoned development site
- Entitled for 100-unit, six-story multifamily building
- $32,000 per unit land cost
- Five-year lease with termination rights generating $102,000 NOI
- Suitable for LIHTC or market-rate development
Location & transit
Transit/Subway
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Commuter Rail
Airport
Located at 435 W Fayette Avenue in Salt Lake City’s vibrant Granary District, the Granary Multifamily Development Land offers a 0.71-acre development opportunity within the MU11 zoning district, with a proposed six-story building featuring 100 residential units. Priced at $3,200,000, the property includes a five-year lease with termination rights, generating an NOI of $102,000 and providing potential income to help offset holding costs while development plans are finalized. Surrounded by downtown amenities and established residential neighborhoods, the site offers convenient access to the area’s commercial and residential destinations. With land costs of approximately $32,000 per unit, the property may be suitable for either a Low-Income Housing Tax Credit (LIHTC) project or a market-rate multifamily development. This offering presents an opportunity to contribute to the continued growth of Salt Lake City’s Granary District. Contact ALIGN COMPLETE REAL ESTATE SERVICES for additional information. The owners are licensed real estate agents in Utah.
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