166 Riddle Rd Italy, TX 76651

Property Details for 166 Riddle Rd

Year built

2023

Lot size

0.72 lot acres

Property size

1,649 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a brand-new, 1,649-square-foot Starbucks located in Italy, Texas. Built in 2023, this single-tenant property boasts a 10.1-year net lease with a credit-rated tenant, providing financial stability and predictable cash flow. The lease commenced February 5th, 2024, and expires February 28th, 2034, leaving a substantial 9.3 years remaining. The property features a highly functional footprint, including a drive-thru, and benefits from a strategic location along the I-35E arterial, a major thoroughfare connecting Dallas and Austin, with a high average daily traffic count of 43,041. This prime location is further enhanced by its proximity to other major national brands, including Pilot and Love's Travel Centers, Dollar General, McDonald's, Denny's, Exxon, Taco Bell, and a Tesla Supercharger. The property sits on a 0.717-acre lot and enjoys excellent visibility and accessibility. The asking price is $2,064,000, representing a compelling $1,251.67 per square foot and a 6.25% capitalization rate based on a net operating income (NOI) of $129,000. The lease includes 10% rent bumps every five years, ensuring consistent growth in rental income. This is the only Starbucks within a 17-mile radius, serving a population of 3,223 within 5 miles, with an average household income of $81,756 and an average home value within 3 miles of $424,163. This presents a rare opportunity to acquire a high-performing, strategically located Starbucks investment.

Location Insight

City

Italy

County

Ellis

State

Texas

Longitude

-96.8975

Latitude

32.1975