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Taco Bell, Leander, TX

Taco Bell

TX, USA

Price $2,270,000
Cap Rate
NOI
Lease Term 25 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, Repair, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 1% Annual Rental Increases
Year Built 2017
Building Size 2,698 SF
Lot Size 0.94 Acres (40,946 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG-TERM ABSOLUTE NNN LEASE
» 25-year NNN lease with absolutely no landlord management, providing an ideal investment for an out-of-area investor
» Operated by Taco Bell’s largest franchisee, with over 280 units
» Rare annual rental increases, providing an excellent hedge against inflation

HIGH-TRAFFIC LOCATION IN BURGEONING RETAIL CORRIDOR
» Strategically located just past the signalized intersection of Hero Way and Bagdad Road, with a traffic count of 28,910 vehicles per day at the intersection
» New retail developments planned nearby
» Close proximity to major national tenants, including CVS, H-E-B Plus!, Dollar General, and many others

CLOSE PROXIMITY TO MAJOR DEVELOPMENTS
» Near Austin Community College’s new 100-acre, $60 million San Gabriel Campus, which will feature the college’s high-tech ACCelerator lab
» Minutes from St. David’s HealthCare’s new Leander medical center, which currently features a 12-bed emergency center and will include a community hospital upon completion
» Surrounded by numerous single and multi-family residential developments, including a 248-unit apartment complex adjacent to the property

RAPIDLY GROWING MARKET WITH STRONG CUSTOMER BASE
» 71,569 residents with an average household income of $94,398 live within a five-mile radius of the property
» With a growth rate of over 11% (16 people per day), Leander is the fastest growing city with a population of over 50,000 in the country
» Experts expect Leander’s population to grow to 200,000 over the next few years

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is strategically located on Hero Way, just past the signalized intersection of Hero Way and Bagdad Road, with a traffic count of 28,910 vehicles per day at the intersection. Bagdad Road is currently undergoing a three-lane widening project near the property to accommodate increasing volumes of vehicular traffic in the area. Additionally, Hero Way provides convenient access to U.S. Route 183, which serves as the primary route between Leander and Austin and experiences a traffic count of 33,721 vehicles per day near the property. The property is located in a burgeoning retail area, and notable national tenants—including CVS, H-E-B Plus!, Dollar General, and Little Caesars—are located nearby. Several large retail plazas are also located just minutes from the property and feature well-known tenants such as Lowe’s, Kohl’s, Super Target, Costco, Whole Foods, Forever 21, and many others.

The property is centrally located near a number of significant developments. Austin Community College’s new 100-acre, $60 million San Gabriel Campus is located minutes away. The college is slated to open in 2018, with an initial projected enrollment of 2,500. Enrollment is expected to increase to 12,000 over the next few years as the campus expands. The property is also close to St. David’s HealthCare’s new medical center. The facility is already home to a 12-bed emergency center. Once completed, the medical center will also include a community hospital, which will create more than 200 jobs. Additionally, a number of residential developments are located near the property, which will bolster the property’s already robust customer base; currently, 71,569 residents with an average household income of $94,398 live within a five-mile radius of the property.

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