Restaurant

Taco Cabana

Listing Price: $1,703,068

Cap Rate
5.65%
Tenant Name
Taco Cabana
Guarantor
Corporate Guarantee
Rentable SF
2,844
Lease Type
Absolute Net
Rent Per Square Feet
$33.83

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the fee simple interest in a Taco Cabana with Drive-Thru located at 3721 N Hwy 75, Sherman, Texas. The property contains 2,844 SF of net leasable area and is situated on 1.13 acres. This absolute triple-net leased Taco Cabana is subject to a 20-year sale-lease-back with 1.50% annual rent increases. Sherman is a U.S. city in and the county seat of Grayson County, Texas. The city has a population of approximately 43,000 people. It is one of the two principal cities in the Sherman – Denison Metropolitan Statistical Area, and it is part of the Texoma region of North Texas and southern Oklahoma. Fiesta Restaurant Group (NASDAQ: FRGI) is a Dallas, Texas-based restaurant chain, primarily owning Taco Cabana locations in Texas and Pollo Tropical locations in Florida. Fiesta employs over 10,000 people and had a 2019 revenue of $661 million. The property’s high-visibility location, surrounding demographics and sale-lease-back structure are all considered to be highly advantageous.

Investment Highlights

  • Texas is an Income Tax-Free State
  • Absolute Triple-Net (NNN) Lease – Zero Landlord Responsibility
  • 20 Year Lease Term Commencing Upon Close of Escrow
  • 1.5% Annual Rent Increases – Excellent Hedge Against Inflation
  • Just Off US Hwy 75 – 60,000+ Vehicles per Day
  • Three Miles From Austin College
  • Surrounded by National Retailers Including: Walmart, Sam's Club, Home Depot, Best Buy, Target and More
  • Sherman is Rapidly Growing – Est. Nine Percent Population Growth 2020-2025

Exclusively Listed By

Listing Price: $1,703,068

Cap Rate
5.65%
Tenant Name
Taco Cabana
Guarantor
Corporate Guarantee
Rentable SF
2,844
Lease Type
Absolute Net
Rent Per Square Feet
$33.83

Investment Highlights

  • Texas is an Income Tax-Free State
  • Absolute Triple-Net (NNN) Lease – Zero Landlord Responsibility
  • 20 Year Lease Term Commencing Upon Close of Escrow
  • 1.5% Annual Rent Increases – Excellent Hedge Against Inflation
  • Just Off US Hwy 75 – 60,000+ Vehicles per Day
  • Three Miles From Austin College
  • Surrounded by National Retailers Including: Walmart, Sam's Club, Home Depot, Best Buy, Target and More
  • Sherman is Rapidly Growing – Est. Nine Percent Population Growth 2020-2025

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the fee simple interest in a Taco Cabana with Drive-Thru located at 3721 N Hwy 75, Sherman, Texas. The property contains 2,844 SF of net leasable area and is situated on 1.13 acres. This absolute triple-net leased Taco Cabana is subject to a 20-year sale-lease-back with 1.50% annual rent increases. Sherman is a U.S. city in and the county seat of Grayson County, Texas. The city has a population of approximately 43,000 people. It is one of the two principal cities in the Sherman – Denison Metropolitan Statistical Area, and it is part of the Texoma region of North Texas and southern Oklahoma. Fiesta Restaurant Group (NASDAQ: FRGI) is a Dallas, Texas-based restaurant chain, primarily owning Taco Cabana locations in Texas and Pollo Tropical locations in Florida. Fiesta employs over 10,000 people and had a 2019 revenue of $661 million. The property’s high-visibility location, surrounding demographics and sale-lease-back structure are all considered to be highly advantageous.

Exclusively Listed By

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