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Views: 219 DOM: 231 Updated: 09.13.24 Posted: 04.25.24 Status: Contract

Summary

Price $3,219,000
Built/Renov 2024
Tenant Black Rock Coffee Bar
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 1,925
Lease Start 08-01-2024
#Units 135
Price/SF $1,672.21
Expiration 08-01-2039
Tenant Type Fast Food/QSR
NOI $169,000
R. Term 14.7
Ownership Fee Simple
Rent/SF $87.79
Increases 10.0%/5/yrs
Pop 5Mi 231,579
Lot/AC 1.13
Options 4/5yrs/10%
AHHI 5Mi $167,542

Lease Highlights

  • Brand new 2024 construction
  • Black Rock Coffee Bar will be executing a brand new 14+ year lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Black Rock Coffee Bar is strategically located at the signalized, hard corner intersection of FM 423 and Old Newman Road, with access to a combined daily traffic count of 48,786 vehicles. FM 423 serves as a major thoroughfare in Frisco that connects Highway 121 to Highway 380. Surrounding the property are well-known national tenants such as Sonic, Papa John's, 7-Eleven, Exxon, Public Storage,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Black Rock Coffee Bar
  • Guarantor:Corporate
  • Company:Black Store Operations LLC
  • # Units:135
  • Stock:Private

About Tenant

Black Store Operations LLC, dba Black Rock Coffee Bar is one of the largest privately owned coffee companies. Founded in 2007 in Portland Oregon, the company is known for its premium roasted...


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Listing Broker

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