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Potbelly Retail Center 601 W 15th St 7,121 SF 100% Leased Retail Building Plano, TX 75075 $5,580,888 CAD ($783.72 CAD/SF) 6.35% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% Leased Three (3) Tenant Retail Center Located in the Highly Relevant Dense Submarket of Plano, TX (DFW)
- Potbelly Recently Signed Early 10-Year Lease Extension Through August 2035
- Shallow Bay Depth, Signage on Both Sides of Building, Two Sided Brick Monument Sign & Double Outdoor Patio
- Adjacent to Central Expressway (US-75), Downtown Plano & Collin Creek Mall Redevelopment
- Average Base Lease Expiration of February 2032
- Average Household Income Exceeds $120,500, $121,400 & $123,100 in a 1-, 3- & 5-Mile Radii, Respectively
EXECUTIVE SUMMARY
Potbelly Retail Center is a 7,121 SF dynamic retail asset located on 15th Street just west of Downtown Plano and North of the Collin Creek Mall Redevelopment in the affluent northern DFW submarket of Plano, Texas. Positioned on 1.56 acres at a signalized intersection, the Property is approximately 20 minutes north of Downtown Dallas and approximately 25 minutes east of Dallas/Fort Worth International Airport. Potbelly Retail Center is leased to a complementary mix of restaurant and service tenants, which include Potbelly Sandwich Shop and Texas Original. As a testament to the strength of the submarket and location, Potbelly recently signed an early 10-year lease extension through August 2035. The Property benefits from shallow bay depth, an average base lease expiration of February 2032, signage on both sides of the building, a two-sided brick monument sign and double outdoor patio. Notable national retailers nearby include Costco Wholesale, Best Buy, At Home, Rooms To Go, Target, Hobby Lobby and Home Depot amongst others.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,121 SF
Building Class
B
Year Built
1994
Price
$5,580,888 CAD
Price Per SF
$783.72 CAD
Cap Rate
6.35%
NOI
$354,465 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
1.56 AC
Zoning
R, Plano
Parking
90 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
278’ on 15th St
AMENITIES
- Pylon Sign
Walk Score®
Very Walkable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R-2952-00A-0050-1 | Improvements Assessment | $1,596,132 CAD |
| Land Assessment | $2,006,090 CAD | Total Assessment | $3,602,222 CAD |
PROPERTY TAXES
Parcel Number
R-2952-00A-0050-1
Land Assessment
$2,006,090 CAD
Improvements Assessment
$1,596,132 CAD
Total Assessment
$3,602,222 CAD
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Potbelly Retail Center | 601 W 15th St
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