5100 Davis Blvd North Richland Hills, TX 76180-7005

Property Details for 5100 Davis Blvd

Year built

2003

Lot size

0.55 lot acres

Property size

2,142 SF

Property type

Drive through restaurants

APN

7440-18-1R

APU

7440181R

Description

This exceptional investment opportunity presents a fee-simple interest in a freestanding Chicken Express restaurant in North Richland Hills, Texas. The property boasts a brand-new 15-year absolute NNN lease with three 5-year renewal options, ensuring long-term stability. The lease includes a 10% rent increase every five years, providing built-in protection against inflation and consistent NOI growth. Located on a prominent corner at Davis Blvd and Standley St, the 2,142 square foot building sits on a 0.55-acre lot with 17 parking spaces. The property benefits from high visibility and accessibility due to its proximity to Interstate 820 and State Highways 121 and 183, experiencing combined daily traffic of 378,000 vehicles. The strong demographics of the area, including a 5-mile radius population exceeding 284,000 with an average household income of $111,111, and the presence of nearby retail anchors like North East Mall (2,134,000 square feet) and Tarrant County College Northeast (12,000+ students), contribute to a robust consumer base. The property's Planned Development zoning and 2003 construction further enhance its value. With a 6.00% cap rate and a net operating income of $155,641, this is a compelling investment opportunity offering minimal landlord responsibilities and significant long-term potential. The asking price is $2,594,000, translating to $1,211.02 per square foot. The property's APN is 7440-18-1R.

Location Insight

City

North Richland Hills

County

Tarrant

State

Texas

Longitude

-97.2138

Latitude

32.8399

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments