2900 Rio Grande Blvd Euless, TX 76039
- Retail properties
- 2,500 SF
- 0.79 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2900 Rio Grande Blvd
- Year built
- 2023
- Lot size
- 0.79 lot acres
- Property size
- 2,500 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 2,500-square-foot CAVA restaurant located at 2900 Rio Grande Blvd in Euless, Texas, within the Glade Parks development in Tarrant County. Boasting a 100% occupancy rate and a strong 6.00% cap rate, this stabilized property offers a secure, long-term investment. The property sits on a 0.785-acre lot and features a 15-year absolute NNN lease with a corporate guarantee from CAVA, a top-ranked location in the Dallas/Fort Worth area, according to Placer.ai. The lease includes four 5-year renewal options, with 10% base rent escalations every five years. Landlord responsibilities are minimal, limited to roof and structural repairs. Built in 2023, this property benefits from a high-traffic submarket, with 26,000 vehicles per day on Glade Road and Rio Grande Boulevard, and 95,000 vehicles per day on Highway 121. The property's permitted zoning is PD, and the current Net Operating Income (NOI) is $175,000, with an asking price of $2,916,667 ($1,166.67 per square foot). This represents a compelling investment opportunity in a thriving location with a strong tenant and favorable lease terms.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Euless
- County
- Tarrant
- State
- Texas
- Longitude
- -97.1009
- Latitude
- 32.8778
