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Denny's & Retail | Sprouts Outparcel 510 W LBJ Fwy 5,978 sq ft 100% Let Retail Property Irving, TX 75063 £2,991,102 (£500.35/sq ft) 5.78% Net Initial Yield
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
Property Size
5,978 sq ft
Costar Property Class
B
Year Built
2002
Price
£2,991,102
Price per sq ft
£500.35
Yield
5.78%
NOI
£172,736
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.09
Total Plot Size
1.49 ac
Use Class
C-C - Community Commercial
Parking
135 Spaces (22.58 Spaces per 1,000 sq ft Leased)
Frontage
155 ft on West Lyndon B Johnson Fwy
AMENITIES
- Freeway Visibility
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 323804000A13R2000 | Improvements Assessment | £1,400,860 |
| Land Assessment | £1,063,808 | Total Assessment | £2,464,668 |
PROPERTY TAXES
Parcel Number
323804000A13R2000
Land Assessment
£1,063,808
Improvements Assessment
£1,400,860
Total Assessment
£2,464,668
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Denny's & Retail | Sprouts Outparcel | 510 W LBJ Fwy
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