Historical Retail Sale Listing - Valvoline/Taco Bueno (Ground Lease)

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Valvoline/Taco Bueno (Ground Lease)

609 Jupiter Road, Plano, TX 75074

N/A

2,270 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
2,270 SF
Property Type:
Retail
Property Sub-type:
Retail Pad
Additional Sub-types:
Restaurant
Service/Gas Station
Free Standing Bldg
Property Use Type:
Investment
Cap Rate:
6.25%
Occupancy:
100%
Tenancy:
Multiple
Property on Ground Lease?:
Yes
Year Built:
2003
Lot Size:
58,109 SF
Listing ID
14575030
Last Updated
over 1 year ago

Highlights

  • 20 Year NNN Ground Lease
  • New Construction (2003 & 2004)
  • Valvoline (Ashland, Inc., Fortune 500 Guarantee)
  • Taco Bueno 1% Annual Rent Increases
  • Desirable Plano, TX (D/FW Metroplex)
  • 67,000 Vehicles Per Day

Description

The subject property is a 1.334 acre parcel of land located at the southwest quadrant of E. Plano Parkway and Jupiter Road just north of the George Bush Highway in Plano, TX. It consists of two new buildings, one of which is currently ground leased to Valvoline Instant Oil Change (VIOC), guaranteed by Ashland, Inc., a Fortune 500 Company and the other NNN leased to Taco Bueno. Both tenants are on 20 year leases and Taco Bueno has one percent annual rent increases. The subject site has cross access with Waffle House and Wachovia Bank all the way to Plano Parkway.

The immediate area is surrounded by Fortune 500 Company distribution/industrial warehouses and high tech companies including DHL, Ericsson, Samsung, Alcatel, Mervyn's, MCI, FedEx and Cisco Systems. Just north and south of the subject site are dense residential neighborhoods. Founded in 1967 and based in Dallas, TX, Taco Bueno is an established market leader in the Mexican Quick Serve restaurant segment, distinguished by the high quality and freshness of its food, speed and convenience of its service. With 145 restaurants in three states, operations are currently clustered in Taco Bueno s primary markets of Dallas/Ft. Worth, Abilene, TX, Oklahoma City and Tulsa, OK. Additional restaurants are located in several other Texas cities and Wichita, Kansas. Taco Bueno s revenues for 2004 were approximately $140 million.

Map of 609 Jupiter Road, Plano, TX 75074 (Collin County)

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Created 4/10/2006