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Red Lobster

Frisco, Texas

The Red Lobster property is situated along Preston Road, which boasts an average daily traffic count of approximately 45,500 vehicles. Preston Road serves as an access route to Sam Rayburn Tollway, which brings an additional 131,600 into the immediate area on average daily. There are more nearly 108,000 individuals residing within a three-mile radius of the property and more than 292,900 individuals within a five-mile radius.
The subject property benefits from being well-positioned in an extremely dense suburban area in a retail corridor consisting of national and local tenants, shopping centers, hospitality accommodations, and academic institutions all within close proximity of this property. Major national tenants include: Walmart, McDonald’s Chick-fil-A, Burger King, Lowe’s, Home Depot, Nordstrom, Taco Bell, Outback Steakhouse, Wells Fargo, JP Morgan Chase Bank, Wendy’s, Applebee’s, Olive Garden, Blaze Pizza and many more. Within just two miles of the subject property is a practice facility for the Dallas Cowboy’s, a 91-Acre Development with retailers, and merchants alike, able to seat up to 12,000. Within just a mile of the subject property there are three major shopping centers: The Centre at Preston Ridge, Preston Ridge Shopping Center and the Stonebriar Centre Mall. The Mall is home to over 205 premiere tenants and retailers. Additionally, several hospitality accommodations are within immediate proximity to the subject investment property. These include: Comfort Inn & Suites, Homewood Suites, Courtyard, Dallas/Plano Marriot, Aloft Plano, Hampton Inn & Suites, Cambria Hotel, Candlewood Suites and more

Key Details

Price:
$6,243,233
Cap Rate:
6.00%
Annual Rent:
$374,595
Address:
3056 Preston Road, Frisco, Texas 75034
Property Type:
Net-Leased Restaurant
Lease Type:
Triple Net (NNN)

Tenant:
Red Lobster

Broker of record

Timothy Speck

License: 432723


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