Grapevine Restaurant Investment
For Sale
Contact for pricing
415 W STATE 114 HWY, Grapevine, TX
NNN leased restaurant property in high-traffic Grapevine location.
Property Size5,625 SF
Lot Size1.53 Acres
Price / SF$566.22
Days on Market496
Property Features for 415 W STATE 114 HWY
General Information
Standard status
Active
Size
5,625 SF
Lot size
1.53 Acres
Property subtype
RETAIL
Listing Agency:
STRIVE
(469) 844-8880
Listed By:
Jason Vitorino
(469) 844-8887
Source:
Moodyscre
Added: May 2, 2025
Changed: Aug 31
Last Checked: Sep 8 at 8:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of STRIVE
Investment Insights
Based on property information with market context.
This property features a new 15-year absolute net lease with zero landlord responsibility. The lease includes a 10% rental increase every 5 years. The property is operated by seasoned operators with multiple concepts in the Dallas-Fort Worth area. Situated at the intersection of Highways 114 and 121, the location offers visibility to approximately 190,000 vehicles per day. The property is less than 5 miles from Dallas-Fort Worth International Airport, The Gaylord Texan Resort & Convention Center, and Great Wolf Lodge. The surrounding area caters to visitors of nearby hotels and the airport. The average household income in the area is $140,000, exceeding the national average by more than 1.5 times. The area has experienced a 41% population increase in the last 10 years. The location is frequented by travelers and residents of the surrounding suburbs of Southlake, Coppell, and Flower Mound. It is part of a development of 4 restaurants and is located near historic downtown Grapevine, close to a $105 million mixed-use development. The property size is 5,625 square feet.
Key Highlights
- New 15 year absolute net lease - zero landlord responsibility
- Located at the intersection of Highways 114 & 121 in a popular suburb of Dallas - visible to nearly 190,000 vehicles per day
- 10% rental increase every 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$93,366
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,867,320
$1.9M
Cap Rate 7%
$1,333,800
$1.3M
Cap Rate 9%
$1,037,400
$1.0M
Market Conditions
NOI Build-Up for 5,625 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$140.4K $24.96/SF
− Vacancy
−$7.0K −$1.25/SF
EGI
$133.4K $23.71/SF
− OpEx
−$40.0K −$7.11/SF
NOI
$93.4K $16.60/SF
Area
Tarrant County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,867,320
Cap Rate 7%
$1,333,800
Cap Rate 9%
$1,037,400
Alternative Uses
Best Use
Retail
$1.33M
$1.17M – $1.56M
NOI $93,366 @ 7.0% cap · market cap 2.93%
Second Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,202 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,510 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,115
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Flying Food Group — 1257 Minters Chapel Rd, Grapevine, TX 76051
- Chill Catering Grapevine — 814 S Main St, Grapevine, TX 76051
- Yayayum Boards — 112 E Texas St, Grapevine, TX 76051
Frequently Asked Questions
What type of property is this?
Restaurant - NNN leased restaurant property in high-traffic Grapevine location.
Where is this restaurant located?
The property is located at 415 W STATE 114 HWY Grapevine, TX.
What is the asking price?
The asking price for this property is $3,185,000.
What are key features of this property?
This property features: New 15 year absolute net lease - zero landlord responsibility; Located at the intersection of Highways 114 & 121 in a popular suburb of Dallas - visible to nearly 190,000 vehicles per day; 10% rental increase every 5 years
