For Sale
$3,642,736

514 State Hwy Wylie, TX 75098

High-yield NNN lease; strong tenant; prime location.

Overview

Added:
Dec 11, 2024
Days on market:
131
This exceptional investment opportunity presents a fee-simple ownership of a 4,238 square foot Chase Bank located at 514 S State Hwy 78, Wylie, TX 75098, in Collin County. The property boasts a Class A building constructed in 2006, situated on a 0.88-acre lot with ample parking (35 spaces per 1,000 sq ft). The property is currently operating under a 20-year absolute NNN ground lease with JPMorgan Chase Bank (NYSE: JPM), an investment-grade tenant with a Standard & Poor's A credit rating. The lease commenced January 6, 2007, and has a remaining term of approximately 2.1 years, with four, five-year renewal options. The current asking price is $3,642,736, representing a price per square foot of $859.54 and a 4.75% cap rate based on a current NOI of $173,030. The lease includes 10% rent bumps. This single-tenant, 100% occupied property benefits from a highly visible location on a signalized corner of two major Wylie thoroughfares, featuring monument signage and multiple drive-thru lanes. The property enjoys strong co-tenancy with national and regional brands including Walgreens, Home Depot, McDonald's, Anytime Fitness, Subway, Tractor Supply Co, Albertsons, CVS, and Starbucks. The property is zoned I. This is a rare opportunity to acquire a stable, high-performing investment in a desirable location within the Dallas/Fort Worth metroplex.

Highlights

  • Absolute net ground lease; no landlord responsibilities.
  • Investment-grade tenant, JPMorgan Chase Bank (NYSE: JPM), with an A Standard & Poor's credit rating.
  • 4+ years remaining lease term with four 5-year options.
  • Dallas/Fort Worth metroplex location with monument signage.
  • Strong co-tenancy with national retailers including Walgreens, Home Depot, McDonald's.
  • Signalized corner lot on two major Wylie thoroughfares; multiple drive-thru lanes.

Property Details for 514 State Hwy

Property type
Retail properties, Banks
Square Feet
4,238 SF
Class
A
Year Built
2006
Buildings
1
Stories
1
Lot Size (sq. ft)
38,333 SF
Units
1

Location Insight

City
Wylie
County
Collin
State
Texas
Latitude
33.0080673
Longitude
-96.5472744
514 State Hwy, Wylie, Texas

FAQs

What type of property is this?
Retail property - High-yield NNN lease; strong tenant; prime location.
Where is the retail property located?
The property is located at 514 State Hwy Wylie, TX.
What is the asking price?
The asking price for this property is $3,642,736.
What are key features of this property?
This property features: Absolute net ground lease; no landlord responsibilities.; Investment-grade tenant, JPMorgan Chase Bank (NYSE: JPM), with an A Standard & Poor's credit rating.; 4+ years remaining lease term with four 5-year options.
How can I contact the broker?
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514 State Hwy
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