CommercialUnder Contract
Exterior01 / 05
Asking
$2,450,000
Cap rate
7.2%
- NOI
- $220.8K / yr
- Building / parcel
- 11,800 SF on 1.4 AC
- Occupancy
- 6 of 6 suites · 100%
- Lease structure
- NNN · 3% escalations
Listed by Northline Capital Partners · Institution
- Aerial
- Exterior
- Access
- Interior
Ground Lease · 0.9 AC pad · 100.0% occupied
Ground-lease pad site at a grocery-anchored center
Pflugerville, TX
Price
$690,000
Cap rate
5.8%
Listed by
Duarte Commercial · Broker
Status
Available · 22 days
First look
Why did this opportunity deserve a deeper look?
- Asking
- $690K
- Listing
- Cap rate
- 5.8%
- Listing
- Tenant
- Regional QSR operator, 41 locations
- Listing
- WALT
- 18.0 years, four 5-year options
- Listing
- Landlord duties
- None — tenant owns improvements
- Listing
Lorthen Intelligence
The listing tells you what it is. Intelligence helps you understand what it means.
- Asset type
- Ground Lease · Ground lease · pad site
- Listing
- Land position
- Pad on 0.9 AC — tenant owns improvements
- Listing
- Tenancy
- Regional · 100.0% occupied
- Listing
- Lease structure
- Absolute net
- Listing
- Term / WALT
- 18.0 years, four 5-year options
- Listing
- Landlord obligations
- None — tenant owns improvements
- Listing
A ground lease conveys the land and the income stream, not the building. Read the lease before anything else.
The Lorthen View
This is a land position beneath a tenant-owned building, offered at a stated 5.8% cap on $40,020 of ground rent. The lease — term, options, escalations and reversion — is the asset. Building condition is not the buyer's exposure here.
What stands out
Stated cap sits against the referenced band
Income durability depends on term and credit
What deserves attention
Landlord exposure is minimal under the stated structure
Stated NOI is unverified
What is still missing
- Tax record — requested
- Rent roll — requested
- Leases — requested
- Financial statements — requested
- Estoppel certificates — not provided
Missing information does not make an asset weaker. It marks what a serious buyer may want to investigate.
Demo · fixture evidence. No CORE service, valuation model or public-record feed is connected.
Market context & comparables
A reference is a starting point, not a valuation. Comparable quality — size, condition, structure and timing — decides what the difference means.
This asset
5.8% cap
Local reference
5.4–6.1%
Pflugerville · same structure
5.4% cap
Absolute net · Regional
Closed, 6 mo ago
Pflugerville · shorter term
6.3% cap
Absolute net · regional tenant
Closed, 9 mo ago
Corridor · multi-tenant
6.7% cap
NNN · rollover within 3 yrs
Closed, 12 mo ago
- Days on market
- 22
- Listing
- Listing history
- No price change recorded
- Listing
- Reference
- Central Texas pad ground leases traded at 5.4–6.1% cap
- Market data
- Assessment context
- $607K (2025 fixture)
- Public record
Location intelligence
Approximate position shown at listing-party permission
Map metric
- Submarket
- Pflugerville, TX
- Listing
- Access
- Municipal street network
- Listing
- Corridor
- Central Texas pad ground leases traded at 5.4–6.1% cap
- Market reference
- Parcel
- Point placement only
- Lorthen
Nearby context
- —Grocery anchor
- —Traffic count node
- —Competing centre
- —Highway interchange
Demo · fixture geography. No parcel, GIS, school or amenity service is connected.
Property & asset detail
Essentials first. Expand a group when a question requires the deeper record.
Asset facts
- Asset type
- Ground Lease
- Listing
- Status
- Available
- Listing
- Land area
- 0.9 AC
- Listing
- Parcel
- 0.9 AC
- Public record
- Occupancy
- 100.0%
- Listing
- Lease structure
- Absolute net
- Listing
History & provenance
- Aug 2026Listed on Lorthen Markets · $690,000Listing
- 2025Assessment · $607K (fixture)Public record
- 2021Previous transaction · $511KPublic record
Documents & diligence status
Documentation adapts to the asset class. Each item records its state, where it comes from and which part of diligence it informs.
Property details
Available
Listing record as published
Listing party · Aug 2026 · Asset record
Tax record
Requested
County record not attached to the fixture
County / municipal · On request · Public record
Offering memorandum
Available
Prepared by the listing party
Listing party · Aug 2026 · Economics
Rent roll
Requested
Released with a confidentiality agreement
Listing party · On request · Lease & income
Leases
Requested
Full executed leases and amendments
Listing party · On request · Lease & income
Financial statements
Requested
Trailing operating statements
Listing party · On request · Economics
Site plan
Available
Included with the offering materials
Listing party · Aug 2026 · Asset record
Estoppel certificates
Not provided
Ordered during contract
— · — · Lease & income
Document contents are not read or extracted in this prototype. The structure supports future extraction without changing the surface.
Known · missing · needs verification
- Property factsKnown
Asset record
- Comparable contextKnown
Market
- Tax historyNeeds verification
Public record
- Property detailsAvailable
Asset record
- Tax recordRequested
Public record
- Offering memorandumAvailable
Economics
- Rent rollRequested
Lease & income
- LeasesRequested
Lease & income
- Financial statementsRequested
Economics
- Site planAvailable
Asset record
- Estoppel certificatesNot provided
Lease & income
- Lease abstractRequested
Lease & income
- Tenant guaranteeNeeds verification
Credit
Nothing here is weighted, ranked or completed on your behalf. Missing information does not make an asset weaker — it marks what is worth investigating.
Questions worth answering
What the available evidence suggests a serious buyer should investigate before committing time or capital to this commercial opportunity.
Demo · fixture questions. Not generated from live intelligence.
- 01
How durable is the current NOI?
Stated NOI is a listing figure until statements and the rent roll confirm it.
Income
- 02
What happens to the economics at lease rollover?
Remaining term and escalations decide what the buyer actually owns.
Lease
- 03
Who guarantees the lease?
A corporate guarantee and a franchisee guarantee are different assets.
Credit
- 04
What capital obligations remain with the landlord?
Structure determines whether roof, structure and parking sit with the buyer.
Obligations
- 05
What is the underlying real estate worth if the tenant leaves?
Tenant quality and real-estate quality must be investigated separately.
Real estate
Who is offering this
Broker
Duarte Commercial
Represented listing. Duarte Commercial coordinates diligence materials.
Typical response · Typically responds within one business day (fixture)
Seller identity, representation and response behaviour are fixture values shown to demonstrate the disclosure surface. No contact channel is connected.
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Cap rate
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- NOI
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- Building / parcel
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- Occupancy
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- Lease structure
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