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Coco Shrimp 1240 E Belt Line Rd

3,019 SF Retail Building Richardson, TX 75081 £2,000,481 (£663/SF) 6% Net Initial Yield

Investment Highlights

  • Passive, Absolute NNN Lease | More than 10-years remaining on Primary Term
  • Lease fully guaranteed for the entire Primary Term
  • Ideal retail corridor anchored by Target, Lowe’s, Burlington, LA Fitness, ALDI, and Planet Fitness
  • 3 Five Year Renewal Options
  • Great access and visibility from Belt Line Road which boasts 30,000 VPD

Executive Summary

The property is ideally located in an ideal retail corridor of Richardson which includes Target, Lowe’s, Burlington, LA Fitness, ALDI, and Planet Fitness. Heavy traffic on the thoroughfare can be attributed to the easy access to Belt Line Rd and the surrounding ample residential area that the Richardson retail serves. The site provides effortless ingress/egress points, as well as cross-access with the surrounding properties.
The property is surrounded by over 153,000 residents with av average household income exceeding $88,000 within a 3-mile radius. Richardson is undergoing rapid development, where more than half of the 56 shopping centers in the city have been remodeled or redeveloped in the past 15 years.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,019 SF
Building Class
B
Year Built/Renovated
1978/2024
Price
£2,000,481
Price Per SF
£663
Net Initial Yield
6%
NOI
£120,069
Tenancy
Single
Number of Floors
1
Building FAR
0.14
Lot Size
0.48 AC
Zoning
LR, Richardson - Local Retail District
Frontage
185 ft on E Belt Line
Walk Score ®
Very Walkable (72)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Comerica
YouFit Gyms
Planet Fitness
Chase Bank
Happy Lemon
La Fitness
ALDI
Applebee's
Starbucks
Jason's Deli

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
42003700000030000
Land Assessment
£202,943
Improvements Assessment
£97,232
Total Assessment
£300,175
  • Listing ID: 34245426

  • Date on Market: 19/12/2024

  • Last Updated:

  • Address: 1240 E Belt Line Rd, Richardson, TX 75081

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