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Restaurant

Dickey's Barbecue Pit

2469 Dalworth St, Grand Prairie, TX 75050

Listing Price: $794,000

Cap Rate
6.50%
Tenant Name
Dickey's Barbecue Pit
Years Remaining On Lease
9.8
Gross SF
2,300
Guarantor
Franchisee Guarantee
Rentable SF
2,300
Price/Gross SF
$345.22
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.43

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net lease Dickey’s Barbecue Pit in Grand Prairie, Texas. The property consists of a 2,300-square-foot, freestanding building that sits on approximately 0.64 acres of land. The tenant signed a new 10-year lease that includes rental escalations every five years, as well as each option thereafter. The property is located at the hard corner of Dalworth Street and Northwest 25th Street, with proximity to West Main Street, where traffic counts exceed 30,189 vehicles per day. The area is extremely dense with more than 285,673 residents and a daytime population of 345,620 within a five-mile radius. Significant industrial projects in the surrounding area include: the former site of the Six Flags Mall being redeveloped into Arlington Logistics Center ($250 million investment; 1.25 million square feet of retail) and $1.4 billion in renovations at General Motors Arlington Assembly. Dickey’s Barbecue Pit, the nation’s largest barbecue chain, was founded in 1941 by Travis Dickey. The fast-casual concept has expanded worldwide and includes 550 locations nationwide. In 2016, Dickey’s won first place on Fast Casual’s “Top 100 Movers and Shakers” list, was named a Top 500 Franchise by Entrepreneur in 2018 and was named to Hospitality Technology Industry Heroes in 2021.

Investment Highlights

  • New 10-Year Triple Net Lease with Attractive Rental Increases
  • Significant Improvements Made to the Property by the Tenant
  • Growing Franchisee with Multiple Restaurants in Dallas and Houston
  • Low Price-Point
  • More than 285,673 Residents and a 345,620-Daytime Population Within a Five-Mile Radius
  • Nearby GM's Automotive Logistics Center ($250 Million Investment; 1.25 Million-SF of Retail)

Exclusively Listed By

Financing By

Listing Price: $794,000

Cap Rate
6.50%
Tenant Name
Dickey's Barbecue Pit
Years Remaining On Lease
9.8
Gross SF
2,300
Guarantor
Franchisee Guarantee
Rentable SF
2,300
Price/Gross SF
$345.22
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.43

Investment Highlights

  • New 10-Year Triple Net Lease with Attractive Rental Increases
  • Significant Improvements Made to the Property by the Tenant
  • Growing Franchisee with Multiple Restaurants in Dallas and Houston
  • Low Price-Point
  • More than 285,673 Residents and a 345,620-Daytime Population Within a Five-Mile Radius
  • Nearby GM's Automotive Logistics Center ($250 Million Investment; 1.25 Million-SF of Retail)

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net lease Dickey’s Barbecue Pit in Grand Prairie, Texas. The property consists of a 2,300-square-foot, freestanding building that sits on approximately 0.64 acres of land. The tenant signed a new 10-year lease that includes rental escalations every five years, as well as each option thereafter. The property is located at the hard corner of Dalworth Street and Northwest 25th Street, with proximity to West Main Street, where traffic counts exceed 30,189 vehicles per day. The area is extremely dense with more than 285,673 residents and a daytime population of 345,620 within a five-mile radius. Significant industrial projects in the surrounding area include: the former site of the Six Flags Mall being redeveloped into Arlington Logistics Center ($250 million investment; 1.25 million square feet of retail) and $1.4 billion in renovations at General Motors Arlington Assembly. Dickey’s Barbecue Pit, the nation’s largest barbecue chain, was founded in 1941 by Travis Dickey. The fast-casual concept has expanded worldwide and includes 550 locations nationwide. In 2016, Dickey’s won first place on Fast Casual’s “Top 100 Movers and Shakers” list, was named a Top 500 Franchise by Entrepreneur in 2018 and was named to Hospitality Technology Industry Heroes in 2021.

Exclusively Listed By

Financing By

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