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Chili's Grill & Bar 8008 Denton Hwy 5,665 SF Retail Building Watauga, TX 76148 $4,288,648 ($757.04/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Leased, no Landlord Responsibilities
- Within the large Watauga Towne Crossing anchored by Supper Target (with Target Grocery)
- Corporate lease with attractive 1.5% fixed annual rent increases
- Excellent access & visibility along Denton Highway 377 in the Dallas-Ft. Worth metroplex
EXECUTIVE SUMMARY
Corporate Leased CHILI’S GRILL & BAR under an Absolute NNN Lease, with 7.5 years remaining followed by (6) Five-Year Options and no Landlord management or maintenance responsibilities. Attractive 1.5% fixed annual rent increases during the primary term and 1st and 2nd Five-Year options. Lease guarantor Brinker International, Inc. (NYSE: EAT) is one of the world's leading casual dining restaurant companies.
Excellent location with high visibility from Denton Highway 377 in the Dallas-Ft. Worth Metroplex, has average daily traffic counts of about 40,000 VPD. The corridor is in an area of explosive growth, with thousands of new homes planned and strong demographics. Located within the large Watauga Towne Crossing anchored by Supper Target (with Target Grocery), and other national tenants Staples, Petco...
This Chili’s Grill & Bar has been operating at this location for almost 25 years. By signing the 2nd 15-year primary lease and (6) Five-Year Options in 2018, tenant shows strong commitment for this proven location.
Excellent location with high visibility from Denton Highway 377 in the Dallas-Ft. Worth Metroplex, has average daily traffic counts of about 40,000 VPD. The corridor is in an area of explosive growth, with thousands of new homes planned and strong demographics. Located within the large Watauga Towne Crossing anchored by Supper Target (with Target Grocery), and other national tenants Staples, Petco...
This Chili’s Grill & Bar has been operating at this location for almost 25 years. By signing the 2nd 15-year primary lease and (6) Five-Year Options in 2018, tenant shows strong commitment for this proven location.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,665 SF
Building Class
B
Year Built
2000
Price
$4,288,648
Price Per SF
$757.04
Cap Rate
5.25%
NOI
$225,154
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.44 AC
Parking
24 Spaces (4.24 Spaces per 1,000 SF Leased)
Frontage
148’ on Denton Hwy
AMENITIES
- Dedicated Turn Lane
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07611307 | Improvements Assessment | $980,700 |
| Land Assessment | $1,069,300 | Total Assessment | $2,050,000 |
PROPERTY TAXES
Parcel Number
07611307
Land Assessment
$1,069,300
Improvements Assessment
$980,700
Total Assessment
$2,050,000
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Chili's Grill & Bar | 8008 Denton Hwy
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