5584 State Hwy 121 Plano, TX 75024-6609
- Commercial real estate
- 7,275 SF
- 1.51 lot acres
Current Use by Public Records
- Tight Ends Sports Bar & Grill / Bar & Pub
Property Details for 5584 State Hwy 121
- Year built
- 2012
- Lot size
- 1.51 lot acres
- Property size
- 7,275 SF
- Zone code
- CE
- Property type
- Commercial real estate
- APN
- R-9446-00A-0040-1
- APU
- R944600A00401
Description
This exceptional investment opportunity presents a 9,500 square foot, single-tenant restaurant in Plano, Texas, boasting a strong 6.50% cap rate and a substantial net operating income (NOI) of $547,920. The property, situated on a 1.509-acre lot at 5584 State Hwy 121, enjoys a prime location within The Village at Stonebriar mixed-use development, shadow anchored by prominent retailers. A newly executed 15-year lease with built-in rental escalations and two 5-year renewal options ensures long-term stability and predictable cash flow. The tenant, a well-established restaurant, has occupied the space for over 10 years and recently completed renovations at their expense. This NNN lease structure minimizes landlord responsibilities, offering a truly passive investment. The property benefits from exceptional visibility and accessibility, with over 134,000 vehicles passing daily. The surrounding area is a thriving mixed-use district experiencing significant growth, with a dense concentration of retail, office, and residential properties. Within a one-mile radius, there's approximately 6.1 million square feet of retail space and 9.4 million square feet of office space. The immediate area's population exceeds 114,528, with median household incomes surpassing $107,154 and median home values exceeding $488,704. This property represents a rare opportunity to acquire a high-performing asset in one of the nation's fastest-growing and most dynamic mixed-use submarkets. The tenant is ranked among the top three in liquor sales in Plano and fourth highest in North DFW, further highlighting the property's exceptional performance and potential. Built in 2012, the property is zoned for Commercial Employment District use.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $595,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $665,000
- 6.5%
- $615,000
- 7%
- $570,000
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Location Insight
- Map
- Local Demand
- City
- Plano
- County
- Collin
- State
- Texas
- Longitude
- -96.813
- Latitude
- 33.0927
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
