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Tight Ends 5584 State Highway 121

9,500 SF Retail Building Plano, TX 75024 £6,651,270 (£700/SF) 6.50% Net Initial Yield

Investment Highlights

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

Executive Summary

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.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,500 SF
Year Built
2012
Price
£6,651,270
Price Per SF
£700
Net Initial Yield
6.50%
NOI
£432,333
Tenancy
Single
Number of Floors
1
Building FAR
0.14
Land Acres
1.51 AC
Zoning
CE
Parking
85 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
137 ft on State Highway 121

Amenities

  • Restaurant
  • Signage
  • Drive Thru

Nearby Major Retailers

Snappy Salads
Jason's Deli
Buca Di Beppo
Lazy Dog Restaurant & Bar
Pei Wei Asian Diner
la Madeleine
Inchin's Bamboo Garden
Pure Barre
Taziki’s Mediterranean Café
Hancock Whitney Bank
  • Listing ID: 33883524

  • Date on Market: 15/11/2024

  • Last Updated:

  • Address: 5584 State Highway 121, Plano, TX 75024

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