5584 State Highway 121Plano, TX 75024

Property Details for 5584 State Highway 121

Year built

2012

Lot size

1.51 AC

Property size (Sq ft)

7,275 SF

Zone code

CE

Property type

Commercial real estate

APN

R-9446-00A-0040-1

APU

R944600A00401

Description

This exceptional investment opportunity presents a 9,500 square foot, single-tenant restaurant in Plano, Texas, boasting a strong 6.50% cap rate and a substantial net operating income (NOI) of $547,920. The property, situated on a 1.509-acre lot at 5584 State Hwy 121, enjoys a prime location within The Village at Stonebriar mixed-use development, shadow anchored by prominent retailers. A newly executed 15-year lease with built-in rental escalations and two 5-year renewal options ensures long-term stability and predictable cash flow. The tenant, a well-established restaurant, has occupied the space for over 10 years and recently completed renovations at their expense. This NNN lease structure minimizes landlord responsibilities, offering a truly passive investment. The property benefits from exceptional visibility and accessibility, with over 134,000 vehicles passing daily. The surrounding area is a thriving mixed-use district experiencing significant growth, with a dense concentration of retail, office, and residential properties. Within a one-mile radius, there's approximately 6.1 million square feet of retail space and 9.4 million square feet of office space. The immediate area's population exceeds 114,528, with median household incomes surpassing $107,154 and median home values exceeding $488,704. This property represents a rare opportunity to acquire a high-performing asset in one of the nation's fastest-growing and most dynamic mixed-use submarkets. The tenant is ranked among the top three in liquor sales in Plano and fourth highest in North DFW, further highlighting the property's exceptional performance and potential. Built in 2012, the property is zoned for Commercial Employment District use.

• Alternative Use

  Use

  Valuation

  Residential

  $1,833,844

  Hospitality

  $1,679,791

  Educational

  $1,397,566

  Medical

  $1,445,631

  Retail

  $2,173,992

Location Insight

City

Plano

County

Collin

State

Texas

Latitude

33.0927

Longitude

-96.813

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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