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Restaurant

Schlotzsky's

502 W McDermott Dr, Allen, TX 75013

Listing Price: $2,510,000

Cap Rate
5.50%
Tenant Name
Schlotzsky's
Years Remaining On Lease
14.8
Gross SF
3,137
Guarantor
Franchisee Guarantee
Rentable SF
3,137
Price/Gross SF
$800.13
Lease Type
Absolute Net
Rent Per Square Feet
$43.99

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Schlotzsky's in Allen, Texas. The property consists of a 3,137-square-foot, freestanding building that sits on 0.79 acres of land. There are 15 years remaining on the current lease term, with 10% rental increases every five years.

Investment Highlights

  • New 15-Year Absolute Net Lease with 10 Percent Rental Escalations Every Five Years.
  • Signalized Hard Corner Location on W McDermott Drive (28,364 VPD) a Block from Sam Johnson Highway (159,207 VPD)
  • More than 288,595 Residents and an Average Household Income of $141,393 Within a Five-Mile Radius
  • 119 Percent Population Growth Since 2000 and 11 Percent Projected Growth in the Next Five Years (5-Mile Radius)
  • Experienced Franchisee (Albert Restaurant Group, LLC) with 26 Locations Across Texas
  • Dense Retail Corridor – Next to Allen City Hall and Surrounded by Multiple Power Centers Anchored by Tom Thumb, Target, The Home Depot and Lowe's
  • More than 288,595 Residents and an Average Household Income of $141,393 Within a Five-Mile Radius
  • Dallas-Fort Worth MSA Location

Exclusively Listed By

Financing By

Restaurant

Schlotzsky's

Listing Price: $2,510,000

Cap Rate
5.50%
Tenant Name
Schlotzsky's
Years Remaining On Lease
14.8
Gross SF
3,137
Guarantor
Franchisee Guarantee
Rentable SF
3,137
Price/Gross SF
$800.13
Lease Type
Absolute Net
Rent Per Square Feet
$43.99

Investment Highlights

  • New 15-Year Absolute Net Lease with 10 Percent Rental Escalations Every Five Years.
  • Signalized Hard Corner Location on W McDermott Drive (28,364 VPD) a Block from Sam Johnson Highway (159,207 VPD)
  • More than 288,595 Residents and an Average Household Income of $141,393 Within a Five-Mile Radius
  • 119 Percent Population Growth Since 2000 and 11 Percent Projected Growth in the Next Five Years (5-Mile Radius)
  • Experienced Franchisee (Albert Restaurant Group, LLC) with 26 Locations Across Texas
  • Dense Retail Corridor – Next to Allen City Hall and Surrounded by Multiple Power Centers Anchored by Tom Thumb, Target, The Home Depot and Lowe's
  • More than 288,595 Residents and an Average Household Income of $141,393 Within a Five-Mile Radius
  • Dallas-Fort Worth MSA Location

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an absolute net lease Schlotzsky's in Allen, Texas. The property consists of a 3,137-square-foot, freestanding building that sits on 0.79 acres of land. There are 15 years remaining on the current lease term, with 10% rental increases every five years.

Exclusively Listed By

Financing By

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