514 State HwyWylie, TX 75098

Property Details for 514 State Hwy

Year built

2006

Lot size

0.88 AC

Property size (Sq ft)

4,238 SF

Property type

Retail properties

Property subtype

Banks

Description

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.

Location Insight

City

Wylie

County

Collin

State

Texas

Latitude

33.0081

Longitude

-96.5473

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