701 W 15th St - Freestanding FOR SALE


Plano, TX 75075- Downtown Plano
$4,273,000 USD
602-206-0784
701 W 15th St, Plano, TX for Sale
$4,273,000 USD
Freestanding - FOR SALE
1/4
null | 5.5% Cap Rate

701 W 15th St
Plano, TX 75075
Downtown Plano


HIGHLIGHTS

  • 20-Year Absolute Triple-Net (NNN) Lease
  • Directly Across From $1B Collin Creek Mall Redevelopment
  • Attractive 2% Annual Rental Increases

OVERVIEW

- Single-tenant Angie’s drive-thru opportunity featuring a 20-year absolute triple-net (NNN) lease with 2% annual rental increases throughout the initial term and 10% rental increases at each of the four (4), five (5) year options. - Angie's Food Concepts is a vertically integrated quick-service restaurant company that offers high-quality/premium food at affordable prices under their four brands: Angie's Prime Grill, Angie's Lobster, Angie's Burger, and Angie's Chicken. This location is a Super Store featuring all four concepts. - Angie's currently operates ±20 locations across Arizona, Nevada, and Texas with over a dozen locations scheduled to open within the next year. - This lease includes a rare, full term personal guaranty by the founders, Tony and Roushan Christofellis. - The Property is directly across the street from the Collin Creek Mall redevelopment, a $1B mixed-use project by Centurion American Development Group. This project features ±1.3M SF of class-A office, ±2,300 multi-family units, ±500 single-family homes, ±200 hotel rooms, and hundreds of thousands of additional square feet for retail and restaurant space (see page 9 for additional details) (Source: CollinCreek.com). - The Property is located ±8 minutes south of the Lavon Farms mixed-use development, which was recently approved. The ±215-acre development is planned to include ±1,052 multi-family units, ±626 single-family residential units, 37-acres of open space, and additional commercial development. - The Property is located ±8 minutes away from Assembly Park, a dynamic new mixed-use development featuring class-A office, ±304 multi-family units, and upscale retail and restaurants all in a walkable, urban landscape. - AT&T, one of the world’s largest telecommunications companies, recently announced plans to relocate its headquarters from Dallas to Plano, where it will develop a new ±54-acre campus.  - The Property is located as an outparcel to Creekwalk Village, a ±169,484 square foot shopping center anchored by Michaels, DSW, Petco, Old Navy, and Crunch Fitness. It is positioned on a hard corner (±34,746 SF) at lighted intersection with excellent frontage and visibility off 15th St (±27,866 VPD) and is just east of US Route 75 (±195,020 VPD). - Plano Senior High School (±2,258 students) and Vines High School (±984 students) are located minutes away (Source: US News, Niche). - Nearby national retailers include Home Depot, Target, Costco, Goodwill, EoS Fitness, Hobby Lobby, Floor & Decor, Best Buy, and more. - The Property boasts a dense 3-mile population of ±116,214 and affluent average household income of ±$122,182 (Source: Esri).

FOR SALE DETAILS

PRICE

$4,273,000 USD

PRICE/SF

$1,370 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Angie's Food Concepts Drive-Thru

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

57

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

R Plano

APN/PARCEL ID

R-2952-00A-0040-1

ASK ABOUT THIS PROPERTY

Ben FarthingCBREMore Info
602-206-0784

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Ben FarthingCBREMore Info
602-206-0784

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