This property is Off-Market

1335 E. Whitestone Blvd.
Cedar Park (Austin), TX 78613 ·

6,000 SF · Retail For Sale

N/A

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Buffalo Wild Wings

Price N/A Cap Rate 7.50%
Building Size 6,000 SF Tenancy Single
Property Type Retail Year Built 2008
Property Sub-type Restaurant Lot Size 1.20 AC
Property Use Type Net Lease Investment with 10+ years left on lease
Listing ID: 15884312 Date Created: 09/08/2008 Last Updated: 12/12/2008

Description

We are pleased to offer for sale a brand new Buffalo Wild Wings Grill and Bar in Cedar Park (Austin), Texas. This restaurant is located on a pad site of the brand new 850,000 square foot 1890 Ranch Shopping Center at the corner of FM 1431 and SH 183A. This new retail destination is currently anchored by SuperTarget, Cinemark, Circuit City, Office Max and PetSmart. Future anchors include Academy, Hobby Lobby, Ross, Gold's Gym and others.

The restaurant is subject to a new 15 year NNN lease which is currently estimated to commence on October 1, 2008. There are 10% rent increases every five years in the primary term, and the tenant is responsible for all maintenance of the building including roof, structure and exterior.

The franchisee, one of the largest Buffalo Wild Wings franchisees in the country, has a development agreement to build 42 restaurants over the next 8-10 years. They currently operate in excess of 15 Buffalo Wild Wings with several more under construction. In addition, they are one of the nations largest Little Caesar's Pizza franchisees with over 50 locations and recently acquired the Zio's Italian Kitchen chain with 15 locations.

Cedar Park, Texas is a growing community, located just 20 minutes from downtown Austin, Texas. In fact, we have grown over 400% in the last ten years. Now exceeding 52,000 people within our city limits, Cedar Park has attracted residents from all over the globe because of its unique charm, its close proximity to Austin, and the beauty of the Hill Country and Lower Colorado River Lake System. Cedar Park was named one of the "Top Ten Places to Raise a Family" by Family Circle magazine in 2007. Cedar Park is perfect for your next business venture! We are one of the fastest growing cities in the State of Texas and the nation! Our labor force is well educated and highly skilled and our school district is rated exemplary.

Highlights

  • Austin, TX - Suburb
  • 118,000 People Within a 5 Mile Radius
  • Brand New Construction--15 Year NNN Lease With 10% Rent Increases Every 5 Years
  • Pad Site of New 850,000- Square Foot Shopping Center
  • Anchors Include SuperTarget, Cinemark, Circuit City, Academy & Hobby Lobby
  • Cedar Park--400 Percent Population Growth in Last 10 Years

Research

1335 E. Whitestone Blvd., Cedar Park (Austin), TX 78613

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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