Address: 1130 Arkansas Lane, Grand Prairie, Texas, United States 75052
Cap Rate: 5.50%
Lease Type: Triple-Net (NNN)
Annual Rent: $155,000
Net Operating Income: $155,000
Rental Increases: 10% Every 5 Years
Options: Four, Five-Year Options
Year Built: 2019
Rentable Sq/Ft: 2,514 SF
Rent Sq/Ft: $61.65
Price Sq/Ft: $1121
Lot Size: 0.78
The subject investment property is situated along Arkansas Lane, which benefits from its close proximity and access to Highway 161. Highway 161 intersects with West Pioneer Parkway which brings an additional 32,000 vehicles per day through the immediate area. There are more than 129,000 individuals residing within a three-mile radius of the property and more than 271,000 individuals within a five-mile radius, with the population projected to increase in the next five years. Additionally, this Wendy’s benefits from its location in an affluent area with over $75,000 average household income in a ten-mile radius.
This property is an outparcel to a Walmart and is strategically located in a newly constructed retail center and is adjacent to several major national and local tenants. Notable tenants in the surrounding area include: Starbucks, El Pollo Loco, Chick-fil-A, Whataburger, QuickTrip, 7-Eleven, Panda Express, CVS Pharmacy and many others. This property also benefits from being in close proximity to many schools including South Grand Prairie High School, Dubiski Career High School and Sallye Moore Elementary School, which have a combined enrollment of over 6,000 students. This Wendy’s is also located less than one mile away from Epic Waters Indoor Waterpark, an 80,000 square foot indoor/outdoor, open year-round waterpark with a curved, retractable roof. Additionally, this Wendy’s benefits from being approximately a mile and a half from Grand Prairie Municipal Airport, which has over 100,000 aircraft operations per year.
Grand Prairie is a city in Dallas County, Tarrant County, and Ellis County and is located 12 miles from Fort Worth, and 6 miles away from Dallas. Dallas is the part of the Dallas-Fort Worth metroplex, which is the fourth most populous metropolitan area in the United States. The city’s population ranks ninth in the U.S. and third in Texas after Houston and San Antonio. The city’s prominence arose from its historical importance as a center for the oil and cotton industries, as well as its positioning along numerous railroad lines, which were the initial reason for the development of the city. Dallas has always had an economic background that is closely related to transportation, starting with the transportation of cotton and cattle, and later oil. It remains a major transportation hub with a convergence of major railroad lines, interstate highways, and the construction of Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world all located in the greater Dallas area. The economy of Dallas is considered diverse, with dominant sectors including defense, financial services, information technology, telecommunications, and transportation. The area within the city limits of Dallas serve as the headquarters to 9 Fortune 500 companies, and the greater Dallas-Fort Worth metroplex is home to the headquarters of three additional Fortune 500 Companies.
BROKER OF RECORD: Timothy Speck #: 9002994