406 Interstate 35th Rd Red Oak, TX 75154-4242
- Commercial real estate
- 3,043 SF
- 1.02 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 406 Interstate 35th Rd
- Year built
- 2011
- Lot size
- 1.02 lot acres
- Property size
- 3,043 SF
- Property type
- Commercial real estate
- APN
- 72.3183.901.005.00.111
- APU
- 72318390100500111
Description
This exceptional investment opportunity features a 3,043 square-foot Dairy Queen in Red Oak, Texas, situated on a 1.035-acre lot. Built in 2011, this free-standing, single-tenant property boasts a strong 13.7 years remaining on a 20-year absolute NNN lease with a franchisee tenant. The lease includes 10% rent bumps every five years, providing significant long-term growth potential. The property generates a substantial net operating income (NOI) of $154,722 annually, resulting in a compelling 6.75% cap rate. Located on a high-traffic exit ramp off Interstate 35, this Dairy Queen benefits from excellent visibility and accessibility, surrounded by major national retailers including Walmart, Walgreens, Dollar General, CVS, Brookshire's, Taco Bell, Whataburger, Denny's, and Panda Express. The property's prime location and strong tenant history make it an attractive investment with three five-year lease options, extending the potential lease term to 28 years. The asking price is $2,293,255, offering a price per square foot of $753.62. This fee-simple ownership presents a rare opportunity to acquire a well-established, high-performing asset in a thriving Texas market. The property is zoned commercial and enjoys 100% occupancy.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Red Oak
- County
- Ellis
- State
- Texas
- Longitude
- -96.8212
- Latitude
- 32.5289
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
