1805 Parmer Ln Austin, TX 78754

Property Details for 1805 Parmer Ln

Year built

2025

Lot size

1.21 lot acres

Property size

2,702 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 15-year absolute net ground lease with Chick-fil-A, commencing March 19, 2025, and expiring March 31, 2040. The property, located at 1805 E Parmer Ln, Austin, TX 78754, boasts a 2,702 square foot building on a 1.21-acre lot. Built in 2025, this single-story structure features a drive-thru only prototype with a double drive-thru component and outdoor seating. The lease includes six five-year options with a 10% rent increase every five years and at each option renewal. The property enjoys a prime location with excellent visibility and access, situated adjacent to Whataburger on East Parmer Lane (27,950 AADT) near its intersection with Dessau Road (26,733 AADT). The strong demographics are highlighted by a daytime population of 256,004 within a 5-mile radius, an average household income of $109,291 within 3 miles, and projected 34% home value appreciation within 1 mile by 2029. The area benefits from proximity to major employers like Dell, Samsung Austin Semiconductor, and St. David's Healthcare, further enhancing the investment's appeal. The asking price is $3,733,000, representing a 3.75% cap rate and a net operating income (NOI) of $140,000. This is a rare opportunity to acquire a high-performing Chick-fil-A ground lease in a rapidly growing Austin market, less than 10 miles from The University of Texas at Austin.