Dairy Queen Hereford, Texas

$840,000
Cap Rate: 6.15%
Available
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 6.15%
Price: $840,000
Rentable SF: 2,108
Annual Rent: $51,636
Price PSF: $398.48
Land Area: 0.8 Acres
Year Built: 1970
Lease Guarantor: Square 1 Restaurants, LLC
Lease Type: NNN
Lease Term: 20 Years
Option Periods: 4, 5-Year Options
Rent Increases: 10% in Base Term and Options
Lease Expiration: 8/31/2035

801 East Park Avenue
Hereford, TX 79045

Investment Highlights

  • 20-Year, Triple Net (NNN) Lease with More Than 16 Years Remaining on Base Term
  • Four, Five-Year Renewal Options
  • 10 Percent Rental Increases in Base Term and Option Periods
  • Square 1 Restaurants, LLC is One of the Largest Dairy Queen Franchisees, Currently Owning and Operating 45 DQ Restaurants
  • Part of the Amarillo, Texas Metro Area, Which is the Heart of Cattle Country and is a Major Transportation Hub in the Texas Panhandle

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Dairy Queen located in Hereford, Texas. Dairy Queen offers a 20-year, triple net lease with more than 16 years remaining on the base term. There are four, five-year renewal options with 10 percent rental increases every five years throughout the base term and option periods. The subject property consists of a 2,108-square foot free-standing building, situated on a 0.8-acre parcel.

The lease is guaranteed by Square 1 Restaurants, LLC which is one of the largest Dairy Queen franchisees in Texas and the Dairy Queen system, currently owning and operating 45 DQ restaurants.

This Dairy Queen restaurant is located in Hereford, Texas. Hereford is part of the Amarillo, Texas metro area, which is the heart of cattle country and is a major transportation hub in the Texas panhandle.

 

Tim Speck
District Manager, Texas
tim.speck@marcusmillichap.com
Lic. # 9002994

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