2211 Southwest Pkwy Wichita Falls, TX 76308
- Retail properties
- 2,200 SF
- 0.49 lot acres
Current Use by Public Records
- HTeaO - Wichita Falls / Tea Store
Property Details for 2211 Southwest Pkwy
- Year built
- 2020
- Lot size
- 0.49 lot acres
- Property size
- 2,200 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 2,200 square foot, single-tenant, corporate-leased HTeaO drive-thru restaurant in Wichita Falls, Texas. Built in 2020, the property boasts a 15-year absolute NNN lease extending to December 2038, featuring 10% rent escalations every five years across six, five-year renewal options. Located on Southwest Parkway (23,536 vehicles per day), this highly visible property benefits from a two-sided pylon sign and convenient left-turn access. The 0.49-acre lot is situated near Midwestern State University (6,000+ students), enhancing its appeal and providing a strong customer base. The surrounding area boasts over 3.7 million square feet of retail gross leasable area within a 1.5-mile radius, including the Sikes Senter Mall. Strong demographics further support this investment, with average household incomes exceeding $95,643 within a one-mile radius and $85,928 within a three-mile radius. Wichita Falls' ranking as one of America's lowest cost-of-living cities adds to the property's long-term value. This turnkey investment offers a compelling 6.00% cap rate and 100% occupancy, making it an ideal addition to any portfolio. The property's strategic location, strong tenant, and favorable lease terms combine to create a secure and profitable investment opportunity. The asking price is $2,250,000.
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
- Wichita Falls
- County
- Wichita
- State
- Texas
- Longitude
- -98.5223
- Latitude
- 33.8569
