Overview
Restaurant Property with Redevelopment Potential
This property, suitable for conventional restaurants, retail, and specialty purposes, features an absolute NNN lease with over 7 years remaining, requiring minimal landlord involvement as the tenant covers insurance, taxes, and maintenance expenses. The property benefits from a large lot size of 1.14 acres. The location is a prime signalized corner with full visibility off E Round Rd, which sees 40,000 vehicles per day, and is just off major highway I-35, ensuring high traffic exposure. Nearby national retailers include Target, Walmart, Kroger, Chick-fil-A, Starbucks, and Home Depot. An 8% rent increase is scheduled for July 2029, with 10%+ increases scheduled at each option. The Vista mall will undergo a $200 million redevelopment, transforming it into a vibrant mixed-use destination featuring multifamily, office, retail, and entertainment. Additionally, a $32 million bond project has been approved to fund critical infrastructure improvements at the current mall site, paving the way for this exciting transformation. The Dallas-Fort Worth metroplex had the largest population growth in the United States in 2023. Within five miles of the site, the average household income is $116,639, reflecting a strong consumer base. The property is operated by Apple Texas Restaurants, which operates over 80 Applebee’s locations and is a subsidiary of SSCP Management, a multi-brand operator with over 500 units, including CiCi’s Pizza, Corner Bakery, Roy’s Fine Dining, and Sonic. The property size is 5,911 square feet.
