Address: 7701 Summer Creek Dr, Fort Worth, Texas, United States 76123
Cap Rate: 5.25%
Lease Type: Triple Net (NNN)
Annual Rent: $155,000
Net Operating Income: $155,000
Year Built: 2020
Rentable Sq/Ft: 2,454 SF
Rent Sq/Ft: $63.16
Price Sq/Ft: $1203
Lot Size: 0.84
The subject investment property is a Wendy’s situated directly across the street from a Walmart along Summer Creek Drive which experiences average daily traffic counts of approximately 19,000 vehicles. Parallel to Summer Creek Drive is Chisholm Trail Parkway which brings an additional 20,000 vehicles through the immediate area daily. This Wendy’s benefits from exceptional demographics in the surrounding area. There are nearly 95,000 individuals residing within a three-mile radius of the property and more than 193,000 individuals within a five-mile radius, with the population projected to grow substantially in the next five years. Additionally, the subject property benefits from its location in an affluent neighborhood where average household income exceeds $103,000 in a one-mile radius.
This property is located on a hard, signalized corner near major national and local tenants. These include: Walmart, Taco Bell, Starbucks, Ace Hardware, 7-Eleven and many others. Additionally, there are four major shopping malls located three-miles north on Chisholm Trail Parkway, which include Hulen Mall, Southwest Crossing, Cityview Mall and Cityview Town Crossing, with over 100 retailers combined. There is also a prominent academic presence in the surrounding area. There are five academic institutions located within a five-mile radius with a total combined enrollment that exceeds 5,000 students. Texas Health Harris Methodist Hospital, a 245-bed state-of-the-art medical facility, is also located within a two-mile radius of this Wendy’s.
Fort Worth is the fifth-largest city in the U.S. state of Texas, and the thirteenth-largest city in the United States. It is the county seat of Tarrant County, and also the second-largest city in the Dallas-Forth Worth- Arlington Metropolitan area, which is the fourth-most populous metropolitan area in the U.S. Due to its proximity to Dallas, Forth Worth has seen a large boost in the late 20th century of major companies headquartering in the city. Some of these companies include American Airlines, Pier 1 Imports, Cash America International, and Bell Textron. Several major companies with significant presence in the area include Bank of America, Wells Fargo, Lockheed Martin, GE Transportation, and Dallas-based telecommunications company AT&T. Forth Worth is not only an economic hub in the metro area, it is also an educational hub serviced by the Fort Worth Independent School District. At over 86,000 students enrolled, it is the fifth largest school district in Texas. Fort Worth is also home to the farming and ranching industry in Texas, having been the main thoroughfare for millions of cattle traveling to market along the Chisholm Trail prior to the Civil War.
BROKER OF RECORD: Tim Speck Lic.# 9002994