Dairy Queen Hereford,Texas

$765,000
Not Available
Property type:Single-Tenant Net Lease

The space

  • Price: $765,000
  • Rentable Square Feet: 2,108
  • Annual Rent: $56,800
  • Price PSF: $362.90
  • Land Area: 0.8 Acres
  • Year Built: 1970
  • Lease Expiration: 8/31/2035

Description

801 East Park Avenue
Hereford, Texas 79045

Investment Highlights

• 20-Year, Triple Net (NNN) Lease with 15 Years Remaining
• Four, Five-Year Renewal Options With 10 Percent Rent Increases Throughout Base Term and Option Periods
• Square 1 Restaurants, LLC is One of the Largest Dairy Queen Franchisees, Currently Owning and Operating 40+ 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
• DQ has 4,503 Stores in the U.S. With Approx. 2,351 Franchisees; and 688 Stores With Approx. 537 Franchisees in Canada

*Cap Rate is based on rent increase on Sept 1, 2021 with Seller credit at closing for any rent difference as compared to the current rent.

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Dairy Queen located in Hereford, Texas. This Dairy Queen offers a 20-year, triple net lease with more than 15 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 more than 40 Dairy Queen. 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.

Broker of Record

Tim Speck
District Manager, Texas
Lic. # 9002994

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