1948 State Hwy Wylie, TX 75098
- Retail properties
- 11,267 SF
- 1.03 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1948 State Hwy
- Year built
- 2023
- Lot size
- 1.03 lot acres
- Property size
- 11,267 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple, 11,267 square foot retail property in Wylie, Texas, currently 100% occupied by a Dollar General/PopShelf location under a 15-year absolute NNN lease with three 5-year options, each including a 10% rent increase. The lease commenced August 4, 2023, leaving approximately 14 years remaining. Built in 2023, this single-story building sits on a 1.033-acre lot and boasts a strong NOI of $165,762, resulting in a 6.35% cap rate and an asking price of $2,610,425. The property benefits from a prime location on State Highway 78, experiencing over 30,000 vehicles daily, and is surrounded by a robust retail environment including Walmart, Tom Thumb, and other national brands. Wylie's population exceeds 60,000, with a projected 8.76% growth over the next five years, and boasts an average household income exceeding $114,234 within a 3-mile radius. The tenant, Dollar General, is a credit-rated corporation providing a corporate guarantee, ensuring a secure and stable investment. PopShelf, a Dollar General concept, offers a unique and appealing retail experience, further enhancing the property's value and long-term potential. This is a rare opportunity to acquire a high-performing, low-management retail asset in a rapidly growing market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wylie
- County
- Collin
- State
- Texas
- Longitude
- -96.5152
- Latitude
- 33.0224
