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Restaurant

Parker County Ice House

210 Willow Bend Dr, Willow Park, TX 76008

Listing Price: $3,304,000

Cap Rate
5.75%
Tenant Name
Parker County Ice House
Years Remaining On Lease
9.9
Gross SF
4,500
Guarantor
Corporate Guarantee
Rentable SF
4,500
Price/Gross SF
$734.22
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.22

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple net lease Parker County Ice House in Willow Park, Texas. The property consists of a 4,500-square foot, freestanding building that sits on approximately 1.51 acres of land. The tenant signed a new 10-year lease with rent commencing in June 2021. The lease features three percent annual rental escalations. Construction of the subject property was completed in 2021. Along with the main building, the property features a covered concert stage and outdoor seating. The property is located at the hard corner of Willow Bend Drive and Willow Crossing East, with proximity to Interstate 20, where traffic counts exceed 90,760 vehicles per day. The area is dense with more than 126,768 residents within a 10-mile radius, and an average household income of $143,516 within a five-mile radius. Surrounding retailers in the immediate area include Brookshire’s, Starbucks, Fuzzy’s Taco Shop, McDonalds, Domino’s Pizza, Whataburger, Sonic Drive-In, Shell, Pizza Hut, Chicken Express and many more.

Investment Highlights

  • New 15-Year Triple Net Lease with Three Percent Annual Rental Escalations
  • 2021 Construction Featuring a Covered Concert Stage and Expansive Patio
  • More than 104% Population Growth Since 2000 & $143,516 Household (Five-Mile Radius)
  • Experienced Restaurant Operator with Multiple Brands
  • Path of Growth - Nearby I-20 (90,760 VPD) Provides a Direct Route Between Weatherford and Fort Worth
  • Large 1.51 Acre Parcel with Ample Parking and Multiple Access Points

Exclusively Listed By

Financing By

Listing Price: $3,304,000

Cap Rate
5.75%
Tenant Name
Parker County Ice House
Years Remaining On Lease
9.9
Gross SF
4,500
Guarantor
Corporate Guarantee
Rentable SF
4,500
Price/Gross SF
$734.22
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.22

Investment Highlights

  • New 15-Year Triple Net Lease with Three Percent Annual Rental Escalations
  • 2021 Construction Featuring a Covered Concert Stage and Expansive Patio
  • More than 104% Population Growth Since 2000 & $143,516 Household (Five-Mile Radius)
  • Experienced Restaurant Operator with Multiple Brands
  • Path of Growth - Nearby I-20 (90,760 VPD) Provides a Direct Route Between Weatherford and Fort Worth
  • Large 1.51 Acre Parcel with Ample Parking and Multiple Access Points

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple net lease Parker County Ice House in Willow Park, Texas. The property consists of a 4,500-square foot, freestanding building that sits on approximately 1.51 acres of land. The tenant signed a new 10-year lease with rent commencing in June 2021. The lease features three percent annual rental escalations. Construction of the subject property was completed in 2021. Along with the main building, the property features a covered concert stage and outdoor seating. The property is located at the hard corner of Willow Bend Drive and Willow Crossing East, with proximity to Interstate 20, where traffic counts exceed 90,760 vehicles per day. The area is dense with more than 126,768 residents within a 10-mile radius, and an average household income of $143,516 within a five-mile radius. Surrounding retailers in the immediate area include Brookshire’s, Starbucks, Fuzzy’s Taco Shop, McDonalds, Domino’s Pizza, Whataburger, Sonic Drive-In, Shell, Pizza Hut, Chicken Express and many more.

Exclusively Listed By

Financing By

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