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Restaurant

Velvet Taco w/ Dr-Thru | Excellent DFW Real Estate | Strong Sales | Long Term NNN Lease

102 W Campbell Rd, Richardson (Dallas-Fort Worth MSA), TX 75080

Listing Price: $5,875,000

Cap Rate
4.00%
Tenant Name
Velvet Taco
Years Remaining On Lease
18.0
Gross SF
3,031
Guarantor
Corporate Guarantee
Rentable SF
3,031
Price/Gross SF
$1,938.30
Lease Type
NNN Ground Lease
Rent Per Square Feet
$77.53

Investment Overview

Richardson is a city in Dallas and Collin counties in the state of Texas. As of the 2020 United States census, the city had a total population of 119,469. Richardson is an inner suburb of Dallas. It is home to the University of Texas at Dallas and the Telecom Corridor, with a high concentration of telecommunications companies. More than 5,000 businesses have operations within Richardson’s 28 square miles, including many of the world’s largest telecommunications and networking companies, such as AT&T, Verizon, Cisco Systems, Samsung, ZTE, MetroPCS, Texas Instruments, Qorvo, and Fujitsu. Richardson’s largest employment base is provided by the insurance industry, with Blue Cross and Blue Shield of Texas’s headquarters, a regional hub for GEICO, regional offices for United Healthcare, and one of State Farm Insurance’s three national regional hubs located in the community. Despite declining economies in other parts of the United States, from 2005 to 2009 Richardson had substantial increases in its economy. The city’s total assessed property value went up from $8.3 billion in 2005 to $14 billion in 2017. Sales tax collection went up from $21 million in 2005 to an estimated $32.9 million in 2017.

Investment Highlights

  • 18+ Year Absolute Net Ground Lease feat. 12% Rental Increases Every 5 Years throughout the Initial Term & Options. Healthy Rent-to-Sales Ratio.
  • Complete 2020 Renovation of Interior & Exterior w/ Dr-Thru Pick-Up Line and Patio. Top 20% Most Visited Velvet Taco in the Chain per Placer.ai.
  • Positioned Along Area's Major Traffic & Retail Corridor - Hard Corner Location: Features Easy Access & Excellent Visibility w/ Daily Traffic Counts Exceeding 47k Vehicles.
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $123k within a 1-Mile Radius and over 406k People Residing within a 5-Mile Radius.
  • Immediate Area Experiencing Major Growth: Near Several Large Housing/Retail Developments Under Construction. The City of Richardson has Experienced an Ongoing Boom of Massive Development. Strong Daytime Employment Area - Surrounded by Numerous Established Corporate HQ's, Business Parks and Regional Office Spaces.
  • Velvet Taco is Majority Owned by Private Equity Firm Leonard Green & Partners - which handles more than $50 Billion of Assets and has Invested in more than 100 Companies.
  • Just South of CityLine - a 186-Acre Mixed-Use Development. It will feature 50+ Dining, Retail & Entertainment Options, Six Million SF of Office Space; Two Hotels, 3,925 Residential Units and Two Parks.
  • Walking Distance from Methodist Richardson Medical Center Campus for Continuing Care - a 284-Bed, Full-Service Hospital that serves Richardson, Garland, Plano, and the Surrounding Areas in Dallas. Less than 2 Miles from The University of Texas at Dallas Campus - the Largest Public University in the Dallas Area with an Enrollment of more than 29k Students.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s) TX: 0606255

    Texas

Financing By

Restaurant

Velvet Taco w/ Dr-Thru | Excellent DFW Real Estate | Strong Sales | Long Term NNN Lease

Listing Price: $5,875,000

Cap Rate
4.00%
Tenant Name
Velvet Taco
Years Remaining On Lease
18.0
Gross SF
3,031
Guarantor
Corporate Guarantee
Rentable SF
3,031
Price/Gross SF
$1,938.30
Lease Type
NNN Ground Lease
Rent Per Square Feet
$77.53

Investment Highlights

  • 18+ Year Absolute Net Ground Lease feat. 12% Rental Increases Every 5 Years throughout the Initial Term & Options. Healthy Rent-to-Sales Ratio.
  • Complete 2020 Renovation of Interior & Exterior w/ Dr-Thru Pick-Up Line and Patio. Top 20% Most Visited Velvet Taco in the Chain per Placer.ai.
  • Positioned Along Area's Major Traffic & Retail Corridor - Hard Corner Location: Features Easy Access & Excellent Visibility w/ Daily Traffic Counts Exceeding 47k Vehicles.
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $123k within a 1-Mile Radius and over 406k People Residing within a 5-Mile Radius.
  • Immediate Area Experiencing Major Growth: Near Several Large Housing/Retail Developments Under Construction. The City of Richardson has Experienced an Ongoing Boom of Massive Development. Strong Daytime Employment Area - Surrounded by Numerous Established Corporate HQ's, Business Parks and Regional Office Spaces.
  • Velvet Taco is Majority Owned by Private Equity Firm Leonard Green & Partners - which handles more than $50 Billion of Assets and has Invested in more than 100 Companies.
  • Just South of CityLine - a 186-Acre Mixed-Use Development. It will feature 50+ Dining, Retail & Entertainment Options, Six Million SF of Office Space; Two Hotels, 3,925 Residential Units and Two Parks.
  • Walking Distance from Methodist Richardson Medical Center Campus for Continuing Care - a 284-Bed, Full-Service Hospital that serves Richardson, Garland, Plano, and the Surrounding Areas in Dallas. Less than 2 Miles from The University of Texas at Dallas Campus - the Largest Public University in the Dallas Area with an Enrollment of more than 29k Students.

Investment Overview

Richardson is a city in Dallas and Collin counties in the state of Texas. As of the 2020 United States census, the city had a total population of 119,469. Richardson is an inner suburb of Dallas. It is home to the University of Texas at Dallas and the Telecom Corridor, with a high concentration of telecommunications companies. More than 5,000 businesses have operations within Richardson’s 28 square miles, including many of the world’s largest telecommunications and networking companies, such as AT&T, Verizon, Cisco Systems, Samsung, ZTE, MetroPCS, Texas Instruments, Qorvo, and Fujitsu. Richardson’s largest employment base is provided by the insurance industry, with Blue Cross and Blue Shield of Texas’s headquarters, a regional hub for GEICO, regional offices for United Healthcare, and one of State Farm Insurance’s three national regional hubs located in the community. Despite declining economies in other parts of the United States, from 2005 to 2009 Richardson had substantial increases in its economy. The city’s total assessed property value went up from $8.3 billion in 2005 to $14 billion in 2017. Sales tax collection went up from $21 million in 2005 to an estimated $32.9 million in 2017.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3100

    License(s): TX: 0606255

    Texas

Financing By

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