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    701 Parker Rd Plano, TX 75023

    For Sale
    $1,200,000

    High-Cap Restaurant, Established Tenant, NNN Lease

    Property size:
    2,497 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional investment opportunity presents a 2,497 square foot freestanding restaurant located at 701 W Parker Rd, Plano, TX 75023. Built in 1974, this single-story building sits on a high-traffic street just west of US Highway 75, benefiting from excellent visibility and accessibility. The property boasts a strong 5.90% capitalization rate, generating a net operating income (NOI) of $70,800 with an asking price of $1,200,000 ($480.58 per square foot). The property is currently under an absolute NNN lease with an established tenant, minimizing landlord responsibilities and maximizing return on investment. The location is surrounded by a thriving retail environment, including national brands such as Target, Comerica Bank, Jack in the Box, Burlington, and Taco Bell, ensuring consistent foot traffic and strong consumer demand. The property is zoned for commercial use and presents a compelling opportunity for passive income generation. Please note: Do not disturb the tenant. All information is deemed reliable but not guaranteed.

    Property Features for 701 Parker Rd

    General Information

    Property type
    Restaurants
    Square Feet
    2,497 SF

    Building Details

    Year Built
    1974
    Stories
    1
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Señor Locos Tex-Mex Tex-Mex Restaurant Woodside Village Shopping Mall Noah Corporate Office

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Plano
    County
    Collin
    State
    Texas
    Longitude
    -96.7093875
    Latitude
    33.0412353

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    FAQs

    What type of property is this?
    Restaurant - High-Cap Restaurant, Established Tenant, NNN Lease
    Where is this restaurant located?
    The property is located at 701 Parker Rd Plano, TX.
    What is the asking price?
    The asking price for this property is $1,200,000.
    Request Owner's contact information
    701 Parker Rd Plano, TX 75023
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    Plano, TX 75023
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    701 Parker Rd Plano, TX 75023
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