2849 Heritage Trace Pky - Restaurant FOR SALE


Fort Worth, TX 76177- North Fort Worth
$6,500,000 USD
214-335-4068
2849 Heritage Trace Pky, Fort Worth, TX for Sale
$6,500,000 USD
Restaurant - FOR SALE
1/7
null | 5% Cap Rate

2849 Heritage Trace Pky
Fort Worth, TX 76177
North Fort Worth


HIGHLIGHTS

  • Zero Landlord Responsibility Corporately Guaranteed Ground Lease within the High Growth Affluent DFW Submarket of North Fort Worth, Texas
  • 2024 Masonry Construction 9,357 SF Freestanding Restaurant Situated on +/-2.04 Acre Hard Corner
  • 15-Year Ground Lease with 10% Rent Bumps every 5-Years & Zero Landlord Responsibilities
  • Within High Growth Interstate 35W Retail Corridor; over 2,400,000 SF of Retail, Restaurant & Entertainment GLA with Occupancy Rate of 99% (Costar)
  • Interstate 35W & Heritage Trace Parkway Intersection (122,800+ VPD Combined)
  • Average Household Income Exceeds $131,500, $139,900 & $131,900 in 1, 3 & 5 Mile Radii, Respectively

OVERVIEW

Whiskey Cake signed a 15 year corporately guaranteed ground lease for a 2024 masonry construction freestanding 9,357 square foot restaurant in the high growth affluent northern submarket of Fort Worth, Texas. Situated on a large +/- 2.04 acre parcel, the Property is 14 minutes from Fort Worth, 20 minutes from Dallas Fort Worth International Airport and 35 minutes from downtown Dallas. Whiskey Cake Ground Lease is positioned within an extremely dense and rapidly growing submarket with over 2,400,000 SF of retail, restaurant and entertainment GLA with an occupancy rate of 99% (CoStar). The Property features zero landlord responsibilities, a 15-year primary term through August 2039 with 10% escalations every five (5) years and four (4) 5-year renewal options at 10% increases. Whiskey Cake Ground Lease benefits from hard corner positioning, high visibility to Heritage Trace Parkway, masonry construction, a significant parking field and exceptionally detailed interior improvements. Notable national retailers in the immediate area include HEB, Kroger Marketplace, Costco, Target, Lowes, Chick Fil A, Best Buy, PetSmart, Total Wine and Starbucks amongst numerous others.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$717 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Whiskey Cake Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.04 AC

LAND SF

88,862 SF

ZONING

-

APN/PARCEL ID

42862246

ASK ABOUT THIS PROPERTY

Tommy TuckerSHOP CompaniesMore Info
214-335-4068

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

Tommy TuckerSHOP CompaniesMore Info
214-335-4068

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