Marcus & Millichap is pleased to offer the opportunity to acquire a 3,434-square foot freestanding Dickey’s Barbecue Pit in the affluent Dallas/Fort Worth suburb of Keller, Texas. The newly executed double-net lease has 9 years remaining on the primary term and two five-year options for renewal. Beginning in lease year six, the rent increases by 5 percent. The lease is secured by dual personal guarantees. Constructed in 2005, the building is situated on 0.87 acres and includes a drive through window.
The subject property is located on Keller Parkway, a major east/west thoroughfare in the city. Traffic counts are approximately 40,500 vehicles per day on Keller Parkway. Numerous national and regional retailers are in the neighboring area, including RaceTrac, Zaxby’s, Burger King, Sonic Drive-In, Taco Casa, Chicken Express, Anytime Fitness, O’Reilly Auto Parts, Enterprise Rent-A-Car, Kroger, Moviehouse & Eatery, Wells Fargo, Stabucks, CVS Pharmacy, Tom Thumb, Orange Theory Fitness, PetCo, Chick-fil-A, Pizza Hut, McDonald’s, Raising Cane’s, and others. Keller High School is located northwest of the property and has a student enrollment of more than 2,600 students. The surrounding area has excellent demographics. The average household income is $119,000 within three miles of the property, and the population exceeds 204,800 residents within five miles.
Keller is located in Northern Tarrant County in the heart of the Dallas/Fort Worth Metroplex with easy access to major business and activity centers. The city is approximately 15 miles northeast of downtown Fort Worth, 25 miles northwest of downtown Dallas, and nine miles west of DFW International Airport.
- 3,434-Square Foot Freestanding Dickey’s Barbecue Pit
- Double-Net Lease
- Landlord Responsible for Roof and Structure
- Newly Executed 10-Year Lease to a Franchisee | Nine Years Remaining on the Term | Tenant has Been in this Location Since 2005
- Lease has Dual Personal Guarantees
- Scheduled 5 Percent Rent Increase at the Beginning of Lease Year Six
- Tenant has Two, Five-Year Options for Renewal with Rent Increases
- Located on Keller Parkway | Major East/West Thoroughfare | Traffic Counts are Approximately 40,500 Vehicles Per Day
- Dense Retail in the Surrounding Area
- Near Keller High School | Student Population is More than 2,600 Students
- Excellent Demographics | Average Household Income is $119,000 Within Three Miles | Five-Mile Population Exceeds 204,800 Residents