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Restaurant

On The Border Corporate | 11-Yr Abs NNN | Annual Increases

4306 Loop 250 Frontage Rd, Midland, TX 79707

Listing Price: $3,250,000

Cap Rate
5.50%
Tenant Name
OTB Acquisition, LLC
Years Remaining On Lease
11.0
Gross SF
6,946
Guarantor
Corporate Guarantee
Rentable SF
6,946
Price/Gross SF
$467.90
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.72

Investment Overview

On The Border Mexican Grill & Cantina, “the world’s largest Mexican casual dining brand”, opened its first location in Dallas, Texas in 1982, making a name for itself with sizzling Tex-Mex style food and a lively patio scene. Seeking to bring the signature mesquite-infused flavor of the 20 million acres of drylands between the Rio Grande and Nueces Rivers on the border of Texas and Mexico to every dish, On The Border provides traditional Border-Style dining to cities all across America and internationally, with 7 locations in South Korea. Located in the Permian Basin, the nation’s center of oil and gas production, Midland has a thriving economy and is home to many companies in the transportation, advanced manufacturing, and aerospace sectors. Midland is home to over 111,000 people, is the principal city of the Midland metropolitan statistical area, and is the county seat of Midland County, Texas. The metro area is a component of the larger Midland-Odessa combined statistical area, which is home to over 340,455 people.

Investment Highlights

  • 11 Years Remaining on Absolute Triple-Net (NNN) Lease with Corporate Tenant
  • 1.25% Annual Rental Increases with Four, Five-Year Renewal Options on Lease
  • Situated in a Major Retail Corridor Along the TX-250 Loop, a Major Connector for the Midland Area
  • High Visibility to Passing Traffic with 30,750+ Cars/Day Along Midland Drive and 74,600+ Cars/Day Along the TX-250 Loop
  • 133,438 Residents in Growing Trade Area - Infill Midland, Texas
  • Average Household Income Exceeds $152K within a 3-Mile Radius
  • Down the Road from the Midland Park Mall with a Daytime Population of over 101K
  • Surrounded by Major National Retailers - PetSmart, Walmart Supercenter, Target, Home Depot, Chick-fil-A, Wendy's, Panda Express, Texas Roadhouse, and More

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Restaurant

On The Border Corporate | 11-Yr Abs NNN | Annual Increases

Listing Price: $3,250,000

Cap Rate
5.50%
Tenant Name
OTB Acquisition, LLC
Years Remaining On Lease
11.0
Gross SF
6,946
Guarantor
Corporate Guarantee
Rentable SF
6,946
Price/Gross SF
$467.90
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.72

Investment Highlights

  • 11 Years Remaining on Absolute Triple-Net (NNN) Lease with Corporate Tenant
  • 1.25% Annual Rental Increases with Four, Five-Year Renewal Options on Lease
  • Situated in a Major Retail Corridor Along the TX-250 Loop, a Major Connector for the Midland Area
  • High Visibility to Passing Traffic with 30,750+ Cars/Day Along Midland Drive and 74,600+ Cars/Day Along the TX-250 Loop
  • 133,438 Residents in Growing Trade Area - Infill Midland, Texas
  • Average Household Income Exceeds $152K within a 3-Mile Radius
  • Down the Road from the Midland Park Mall with a Daytime Population of over 101K
  • Surrounded by Major National Retailers - PetSmart, Walmart Supercenter, Target, Home Depot, Chick-fil-A, Wendy's, Panda Express, Texas Roadhouse, and More

Investment Overview

On The Border Mexican Grill & Cantina, “the world’s largest Mexican casual dining brand”, opened its first location in Dallas, Texas in 1982, making a name for itself with sizzling Tex-Mex style food and a lively patio scene. Seeking to bring the signature mesquite-infused flavor of the 20 million acres of drylands between the Rio Grande and Nueces Rivers on the border of Texas and Mexico to every dish, On The Border provides traditional Border-Style dining to cities all across America and internationally, with 7 locations in South Korea. Located in the Permian Basin, the nation’s center of oil and gas production, Midland has a thriving economy and is home to many companies in the transportation, advanced manufacturing, and aerospace sectors. Midland is home to over 111,000 people, is the principal city of the Midland metropolitan statistical area, and is the county seat of Midland County, Texas. The metro area is a component of the larger Midland-Odessa combined statistical area, which is home to over 340,455 people.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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