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Denny's & Retail | Sprouts Outparcel 510 W LBJ Fwy 5,978 SF 100% Leased Retail Building Irving, TX 75063 $5,583,680 CAD ($934.04 CAD/SF) 5.78% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Tenant Lineup | 100% Occupied | Newly Signed Leases | Scheduled Rental Increase | Long-Term Commitment to the Site
- Dense Retail Corridor | Major Surrounding Shopping Centers | Situated Within Las Colinas | DFW International Airport
- Direct Residential Consumer Base | Affluent Community |Strong Demographics in 5-Mile Trade Area
- Located Along Lyndon B Johnson Freeway | Centralized Location |Excellent Visibility & Access
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, two-tenant,
e-commerce resistant, retail strip investment property located in Irving, TX (Dallas / Fort Worth MSA). The offering features a strong food and service-based tenant lineup of Denny’s and a massage tenant. Denny’s has 15 years of term remaining with 4 (5-year) options to extend and the massage tenant has a new, 5-year lease with 1 (5-year) option. The Denny’s lease features 8% rental increases every 5 years and at the beginning of each option period, growing NOI and hedging against inflation. Founded in 1953, Denny’s is among the largest diner-style restaurant chains with over 1,700 locations around the world.
e-commerce resistant, retail strip investment property located in Irving, TX (Dallas / Fort Worth MSA). The offering features a strong food and service-based tenant lineup of Denny’s and a massage tenant. Denny’s has 15 years of term remaining with 4 (5-year) options to extend and the massage tenant has a new, 5-year lease with 1 (5-year) option. The Denny’s lease features 8% rental increases every 5 years and at the beginning of each option period, growing NOI and hedging against inflation. Founded in 1953, Denny’s is among the largest diner-style restaurant chains with over 1,700 locations around the world.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,978 SF
Building Class
B
Year Built
2002
Price
$5,583,680 CAD
Price Per SF
$934.04 CAD
Cap Rate
5.78%
NOI
$322,458 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.09
Lot Size
1.49 AC
Zoning
C-C - Community Commercial
Parking
135 Spaces (22.58 Spaces per 1,000 SF Leased)
Frontage
155’ on West Lyndon B Johnson Fwy
AMENITIES
- Freeway Visibility
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 323804000A13R2000 | Improvements Assessment | $2,615,075 CAD |
| Land Assessment | $1,985,878 CAD | Total Assessment | $4,600,952 CAD |
PROPERTY TAXES
Parcel Number
323804000A13R2000
Land Assessment
$1,985,878 CAD
Improvements Assessment
$2,615,075 CAD
Total Assessment
$4,600,952 CAD
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Denny's & Retail | Sprouts Outparcel | 510 W LBJ Fwy
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