529 Stewart St Azle, TX 76020-3248
- Drive through restaurants
- 3,249 SF
- 0.68 lot acres
Current Use by Public Records
- Chicken Express-Azle / Fast Food Restaurant / Chicken Restaurant
Property Details for 529 Stewart St
- Year built
- 1985
- Lot size
- 0.68 lot acres
- Property size
- 3,249 SF
- Property type
- Drive through restaurants
- APN
- 37003--3
- APU
- 370033
Description
This exceptional investment opportunity presents a fee-simple ownership of a 3,249 square foot Chicken Express restaurant in Azle, Texas. The property boasts a brand new 15-year absolute NNN lease with three 5-year renewal options, featuring 10% rent increases at the beginning of each option period. This ensures consistent, inflation-hedged income growth. The single-tenant building, constructed in 2002, sits on a 0.68-acre lot with ample parking (41 spaces). Located on N Stewart Street (7,800 vehicles per day) and with convenient access to State Highway 199 (32,900 vehicles per day), the property benefits from high visibility and traffic. Its strategic outparcel location within Lake Plaza (148,000 sq ft) and proximity to a Walmart Supercenter-anchored center, along with other national retailers, guarantees strong consumer traffic. The property's strong demographics include a 5-mile trade area with over 40,100 residents and 10,100 daytime employees, boasting an average household income exceeding $122,553. The current Net Operating Income (NOI) is $235,354, representing a 6.00% cap rate on the $3,922,000 asking price. This property offers a management-free investment with significant upside potential due to the lease terms and prime location. The Tax Parcel Number (APN) is 37003--3.
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
- Azle
- County
- Tarrant
- State
- Texas
- Longitude
- -97.5384
- Latitude
- 32.8932
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
