5584 State Highway 121 - Restaurant FOR SALE


Plano, TX 75024
$8,430,000 USD
214-545-6900
5584 State Highway 121, Plano, TX for Sale
$8,430,000 USD
Restaurant - FOR SALE
1/6
null | 6.5% Cap Rate

5584 State Highway 121
Plano, TX 75024


HIGHLIGHTS

  • Ranked in Top 3 Liquor Sales in all of Plano & 4th Highest Liquor Sales in North DFW (per TABC)
  • Surrounded by 9.4M sf of office space within a 1-mile radius; 134,000+ VPD Pass the Property
  • Excellent Health Ratio: Occupancy cost below 7%
  • Strong Commitment to Location: Newly executed 15-year lease renewal and fresh update/remodel (at Tenant’s expense)
  • Tenant has occupied space for 10+ years; Absolute NNN Lease - Zero Landlord Responsibility
  • Heavily-Trafficked Retail Location : the Property lies in the Frisco retail node, which has experienced 18 million visits in the past 12 months (per P

OVERVIEW

Tight Ends Sports Bar & Grill (The “Property”) is a 9,500 square foot, single-tenant restaurant located at the southeast corner of Parkwood Blvd & Sam Rayburn Tollway (State Hwy 121) Service Road in Plano, Texas. Tight Ends recently signed a new, 15-year lease with built-in rental escalations and 2, 5-year renewal options for the premises. The Property is a frontage pad site within The Village at Stonebriar mixed-use development and is shadow anchored by The Container Store and At Home. PRIME LOCATION The surrounding submarket is a dense mixed-use area which encompasses both North Plano and Southern Frisco. The center is surrounded by approximately 6.1 million square feet of retail space within a 1-mile radius of the property. This includes Legacy North, Granite Park, Stonebriar Centre, The Centre at Preston Ridge, Shops at Stonebriar, Preston Village Shopping Center, and the South Frisco Village. The surrounding area has seen meteoric growth over the last decade and is expected to continue at a 4.3% growth rate over the next 5 years. The current population count within a 3-mile radius of the Property is 114,528 with median household incomes exceeding $107,154 per year and median home values of $488,704. This real estate investment opportunity offers an investor the ability to acquire a high performing asset with consistent cash flow and minimal Landlord responsibilities located within one of the most dynamic and fastest growing mixed-use submarkets in the entire country.

FOR SALE DETAILS

PRICE

$8,430,000 USD

PRICE/SF

$887 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tight Ends

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

85

LAND DETAILS

LAND ACRES

1.51 AC

LAND SF

65,776 SF

ZONING

CE

APN/PARCEL ID

R2682528

ASK ABOUT THIS PROPERTY

Bill PyleEdge Realty PartnersMore Info
214-545-6900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Bill PyleEdge Realty PartnersMore Info
214-545-6900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.