451 Tx-114 Business, Grapevine, TX 76051
- Retail properties & Spaces
- 6,500 SF
- 1.45 lot acres
Current Use by Public Records
- Retail properties & Spaces
Property Details for 451 Tx-114 Business
- Year built
- 2023
- Lot size
- 1.45 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 6,500 square foot Firebirds Wood Fired Grill restaurant in Grapevine, Texas. Situated on a 1.45-acre lot at 451 TX-114 Business, 76051, this property boasts a 15-year absolute NNN ground lease with a 10% rent increase every five years, ensuring strong, predictable cash flow. The tenant, Firebirds Wood Fired Grill, operates 57 locations nationwide, generating approximately $300 million in annual sales. This corporate guarantee provides significant security. The property benefits from its location on a major thoroughfare, State Highway 114, averaging over 205,000 vehicles per day, placing it near Southlake Town Center (anchored by Apple, REI, and Central Market) and the Gaylord Texan Resort & Convention Center. The area demonstrates exceptional restaurant sales, comparable to other high-performing establishments. With a 5.5% cap rate and a net operating income (NOI) of $315,000, this property offers a compelling return on investment. The asking price is $5,730,000 ($881.54 per square foot), reflecting the property's prime location and strong tenant. Built in 2023, the property is currently 100% occupied. The average household income in the immediate area exceeds $144,000, significantly higher than the national average. This is a rare opportunity to acquire a high-performing restaurant property in one of the most desirable areas of the Dallas-Fort Worth metroplex.
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grapevine
- County
- Tarrant
- State
- Texas
- Longitude
- -97.0798
- Latitude
- 32.9411
