Andy’s Frozen Custard,
Keller, TX Investment Summary
| Price | $2,858,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance |
| Rental Increases | 8% Rental Increase Every Five (5) Years |
| Year Built | 2018 |
| Building Size | 1,463 SF |
| Lot Size | 1.14 Acres (49,658 SF) |
| Status | Sold |
| Lead Brokers | Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
15-YEAR ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 15-year absolute NNN lease with five (5) five (5) year options, creating a stable, long-term investment
» 8% rental increases every five years, providing a hedge against inflation
» Absolute NNN lease requires zero landlord management, ideal for an out-of-area investor
HIGH-TRAFFIC LOCATION IN DENSELY POPULATED AND AFFLUENT AREA
» Located just off the signalized hard corner of Keller Parkway and Rufe Snow Drive, with excellent visibility and access to 57,326 vehicles per day at the intersection
» 229,010 residents within a five-mile radius of the property
» Central location in a robustly affluent area, with an average household income of $142,465
CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Central location less than a mile from Keller High School, Keller Middle School, and Bear Creek Intermediate School (combined 4,314 students), increasing lunch-time traffic to the site
» Located near high-density single-family housing developments
» Surrounded by major national retailers including Kroger, CVS, McDonald’s, Zaxby’s, AT&T, Little Caesar’s, Shell, RaceTrac, Tom Thumb, and many others
2018 CONSTRUCTION
» Location features a dedicated drive-thru and walk-up windows, providing additional customer convenience and boosting sales revenue
» Features latest store designs and concepts
» New building, limiting near-term deferred maintenance or capital costs
Property Description
SOLD
The property is strategically located just off the signalized hard corner of Keller Parkway and Rufe Snow Drive with 57,326 vehicles per day at the intersection. The subject property is located just cross from a Kroger-anchored shopping center, promoting crossover shopping. The surrounding area is affluent and densely populated with 229,010 residents and an average household income over $142,465 within five miles of the property.
The subject property is centrally located in a growing retail corridor and adjacent to many national brands and tenants. The surrounding area is being rapidly developed with many single-family housing developments under construction just to the north. There are many schools within less than a one-mile radius including Keller High School, Keller Middle School, and Bear Creek Intermediate School, totaling a combined 4,314 students.
