1824 Texoma Pkwy Sherman, TX 75090-2616

Property Details for 1824 Texoma Pkwy

Lot size

0.81 lot acres

Property type

Commercial real estate

APN

S023 0763168

APU

S0230763168

Description

This exceptional investment opportunity presents a fee-simple ownership of a 2,518 square foot Chicken Express restaurant in Sherman, Texas. Located at 1824 Texoma Pkwy, this single-tenant, absolute NNN property boasts a brand new 15-year lease with three 5-year renewal options. The lease includes a 10% rent increase every five years, ensuring consistent income growth and inflation protection. The property sits on a 0.43-acre lot with 27 parking spaces and benefits from high visibility on Texoma Parkway (17,100 VPD) and US Highway 75 (65,700 VPD). Built in 2006, this C-2 zoned property offers a strong 6.00% cap rate and a substantial net operating income (NOI) of $188,212, with an asking price of $3,137,000 ($1,245.83/sq ft). The franchisee tenant provides exceptional creditworthiness. This is a truly passive investment opportunity with zero landlord responsibilities, making it ideal for investors seeking stable, long-term returns. The property's location within a dense retail corridor, near Sherman Town Center (1.013M SF) and Sherman Commons (317K SF), further enhances its value and potential for appreciation. The strong demographics within a 5-mile radius ensure a robust consumer base. This is a rare opportunity to acquire a well-established, high-performing QSR property with significant upside potential.