1240 E Belt Line Rd - Freestanding FOR SALE


Richardson, TX 75081
$2,415,000 USD
214-960-2835
1240 E Belt Line Rd, Richardson, TX for Sale
$2,415,000 USD
Freestanding - FOR SALE
1/8
null | 6.25% Cap Rate

1240 E Belt Line Rd
Richardson, TX 75081


HIGHLIGHTS

  • Coco Shrimp; Newly Renovated Absolute NNN Single-Tenant Drive-Thru Asset Located in the Dense DFW submarket of Richardson, TX
  • Newly Renovated in 2024 with Primary Lease Term Through April 2036; 10% Escalations Every 5 Years Including Each of the Three, 5-Year Renewal Options
  • Coco Shrimp is an Established TX Hawaiian Seafood Concept with Eight (8) Locations in TX & Continuing to Expand
  • Average Household Income Exceeds $137,400 & $98,900 in a 1 & 3 Mile Radii, Respectively
  • Combined Traffic Volumes Exceeding 69,800 VPD at the Intersection of Belt Line Road & Plano Road
  • Dense Regional Retail Corridor with Over 1 Million SF of Retail GLA in a ½ Mile Radius

OVERVIEW

Coco Shrimp is an absolute triple-net (NNN), newly renovated (2024) single-tenant drive-thru asset located in the dense Dallas Forth Worth suburb of Richardson, Texas. The tenant has signed a new lease through April 2036. The lease features zero landlord responsibilities and includes 10% rent escalations every 5 years, including each of the three 5-year renewal options. The Property is an ideal single-tenant asset, designed at 3,019 square feet with a drive-thru, providing long-term residual value. Coco Shrimp benefits from frontage to Belt Line Road, a highly visible two-sided pylon sign, multiple ingress/egress points of access, drive-thru access and an outdoor patio. Neighboring notable national credit retailers including Include Target, Lowe’s, Ross, Burlington, Aldi, LA Fitness, Chick-fil-A McDonald’s, Dunkin’, and Comerica, among numerous others.

FOR SALE DETAILS

PRICE

$2,415,000 USD

PRICE/SF

$800 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Coco Shrimp

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

LR, Richardson

APN/PARCEL ID

42003700000030000

ASK ABOUT THIS PROPERTY

Tim AxilrodSHOP CompaniesMore Info
214-960-2835

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Tim AxilrodSHOP CompaniesMore Info
214-960-2835

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.