RICHARDSON RESTAURANT PARK, RICHARDSON, TX

Available for Sale

$3,577,357

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

Richardson Restaurant Park - Building 1

Richardson Restaurant Park - Building 1

±5,940 SF | Highway Frontage | 5.75% Cap

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CONTACT

Ty Underwood

SLJ Company, LLC

(214) 520-8818 ext. 4

PROPERTY INFORMATION

Price: Call for pricing information

Lot Size: 4.95 Acres

Property Type: Retail

Zoning: Community Commercial (CC)

Building Size: N/A

Property Sub-Type: Retail (Land)

HIGHLIGHTS

  • Richardson Restaurant Park is a distinctive restaurant-focused development

  • Located in the heart of Richardson's Telecom Corridor

  • All tenants are established restaurant chains with multiple locations and national brand recognition

  • Premier highway visibility and excellent access

  • Huge traffic counts over 334,000 VPD on Central Expressway

  • Daytime employment of 668,000 within a 10-mile radius

PROPERTY DESCRIPTION

SLJ Company, LLC (SLJ) has been exclusively retained to offer to qualified investors the opportunity to acquire a 100% fee-simple interest in Richardson Restaurant Park – Building 1 (the “Property”), a newly constructed 5,940 square foot multi-tenant investment property located within a larger restaurant-focused development in Richardson, Texas.  Ideally positioned near the intersection of Central Expressway (U.S. Highway 75) and Spring Valley Road, the Property is approximately 20 minutes north of Downtown Dallas and prominently positioned parallel to the S Central Expressway service road with direct exposure to over 330,000 vehicles per day. 

 

Built in 2016, the Property is 100% leased to three restaurant tenants including The Halal Guys, Pokeworks and Texadelphia with an average base lease term of 8.33 years.  All three tenants are established restaurant chains with multiple locations and national brand recognition.  Richardson Restaurant Park offers investors built-in upside potential with 59.8% of in-place rental subject to contract rent escalations during the primary lease term.  Staggered lease expirations mitigate vacancy risk, and all tenant leases are triple net providing a landlord insulation from increases in operating expenses. The Property’s recent construction limits the need for near-term capital improvements creating the potential for years of stable cash flow.

 

The Property is part of Richardson Restaurant Park, a distinctive restaurant-focused development that offers multiple outdoor dining and common areas with dominate signage visible from Central Expressway and abundant parking.  Additionally, since the Property is a part of a larger development, it benefits from the customer draw created by a critical mass of unique restaurant offerings plus tenants of the development enjoy an exciting shared restaurant atmosphere, increased sales and heavy mealtime traffic.  The Property offers an investor the rare benefit of being part of Richardson Restaurant Park without the obligation of actively operating the common areas plus a bite-sized deal price point.  There is currently one other fully occupied building in the development with three additional buildings expected to be pre-leased and developed soon.

 

Richardson Restaurant Park is strategically positioned in the heart of Richardson’s Telecom Corridor which is home to more than 5,000 businesses. Richardson, Texas has experienced a dramatic expansion in business development in recent years which has increased the total labor force within a 30-minute commute of the Telecom Corridor to nearly 1.9 million people. The Property is also just minutes away from new developments, including CityLine, at U.S. Highway 75 and President George Bush Turnpike. Situated near the intersection of U.S. Highway 75 and Spring Valley Road, the Property enjoys excellent visibility and access to a total combined traffic count exceeding 375,000 vehicles per day and just moments away from the heavily commuted “High Five” intersection of U.S. Highway 75 and Interstate 635.

 

Overall, Richardson Restaurant Park offers an investor a high-quality, stable, income-producing asset ideally positioned in a restaurant-focused experiential development in one of the most sought-after submarkets in North Texas.