2900 Rio Grande BlvdEuless, TX 76039

Property Details for 2900 Rio Grande Blvd

Year built

2023

Lot size

0.79 AC

Property size (Sq ft)

2,500 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a brand-new, 2,500-square-foot CAVA restaurant located at 2900 Rio Grande Blvd in Euless, Texas, within the Glade Parks development in Tarrant County. Boasting a 100% occupancy rate and a strong 6.00% cap rate, this stabilized property offers a secure, long-term investment. The property sits on a 0.785-acre lot and features a 15-year absolute NNN lease with a corporate guarantee from CAVA, a top-ranked location in the Dallas/Fort Worth area, according to Placer.ai. The lease includes four 5-year renewal options, with 10% base rent escalations every five years. Landlord responsibilities are minimal, limited to roof and structural repairs. Built in 2023, this property benefits from a high-traffic submarket, with 26,000 vehicles per day on Glade Road and Rio Grande Boulevard, and 95,000 vehicles per day on Highway 121. The property's permitted zoning is PD, and the current Net Operating Income (NOI) is $175,000, with an asking price of $2,916,667 ($1,166.67 per square foot). This represents a compelling investment opportunity in a thriving location with a strong tenant and favorable lease terms.

Location Insight

City

Euless

County

Tarrant

State

Texas

Latitude

32.8778

Longitude

-97.1009

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