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Twin Peaks

$ 4,347,826
Round Rock, Texas
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Address: 100 Louis Henna Boulevard, Round Rock, Texas, United States 78664

Type: Restaurant

Cap Rate: 5.75%

Lease Type: Triple-Net (NNN)

Annual Rent: $250,000

Net Operating Income: $250,000

Lease Term Remaining: 15.0 Years

Rental Increases: 8.0% Every Five Years

Options: Four (4), Five (5)-Year Options

Year Built: 1997

Rentable Sq/Ft: 5,600 SF

Rent Sq/Ft: $44.64

Price Sq/Ft: $776

Lot Size: +/- 1.63

Marcus & Millichap is pleased to present the exclusive listing for a Twin Peaks restaurant located at 100 Louis Henna Boulevard in Round Rock, Texas. The property consists of approximately 5,600 square feet of building space and is situated on roughly 1.63 acres of land.
This Twin Peaks was newly remodeled in 2019 and is subject to a 15-year sale-leaseback. The base-term of this lease will commence upon the close of escrow and will be subject to 8.00% rental increases every five years that will continue through four, five-year tenant renewal options.

The subject investment property is situated on Louis Henna Blvd, just off TX-45 and Interstate-35. Louis Henna Blvd experiences an average daily traffic count exceeding 39,120 vehicles, while TX-45 and Interstate-35 bring an additional average of 105,489 and 158,613 vehicles to the immediate area per day, respectively. There are more than 249,520 individuals residing within a five-mile radius of the subject property and more than 704,320 individuals within a 10-mile radius. The subject property is located
in a very affluent community, with an average income of $96,914 within a five-mile radius and $99,223 within a 10-mile radius.

This Twin Peaks benefits from excellent signage and visibility and sits as an outparcel to a Walmart Supercenter in the heart of Round Rock’s main retail artery. Major national tenants in the immediate area include: Home Depot, Lowe’s, Walgreens, CVS, Sam’s Club, Hobby Lobby, Best Buy, McDonald’s, Chick-fil-A, Burger King, Wendy’s, in addition to many others. The subject property is also right next to the international headquarters for Dell Technologies, the second-largest employer in the area with over 3,200 employees.. Additionally, This Twin Peaks is located only six miles from Round Rocks Premium Outlets. This is a 430,000-square-foot shopping mall that is located on 200 acres and is home to more than 110 stores. St. David’s North Austin Medical Center, a 397-bed medical facility, is just seven miles away from the subject property.

Round Rock is located in Williamson County and is a part of the Greater Austin, Texas metropolitan area. Located about 20 miles north of downtown Austin, Round Rock shares a common border with Austin at Texas State Highway 45. In August 2008, Money Magazine named Round Rock as the seventh-best American small city to live in and was the only city in Texas to make the Top 10. Round Rock is also one of the fastest growing cities in the nation, and one of the best-managed cities in Texas. The
city has maintained high quality of life while becoming a major center for economic growth in Central Texas, with industry clusters in clean energy, advanced manufacturing, life sciences and computer/software development. Round Rock has a very strong public education system, with the Round Rock independent School District ranking among the best in the state. Of the 42 schools within this system, 12 have been considered exemplary and 11 have been recognized. Round Rock is perhaps best known as the international headquarters of Dell technologies. The presence of Dell along with other major employers, a strong economic development program, favorable tax rates, major retailers such as IKEA, a premium outlet mall, and the mixed-use La Frontera center, have changed Round Rock from a sleepy bedroom community into its own self-contained super subur

 

 

Broker of Record:  Timothy Speck  License #9002994

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Glen Kunofsky

President, Founder
(212) 430-5115

Edward Otocka

Senior Managing Director, Investments
(212) 430-5235

Alexandre Marietto

Senior Account Manager
(212) 430-5182