529 Stewart StAzle, TX 76020

Property Details for 529 Stewart St

Year built

1985

Lot size

0.68 AC

Property size (Sq ft)

3,249 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

37003--3

APU

370033

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,249 square foot Chicken Express restaurant in Azle, Texas. The property boasts a brand new 15-year absolute NNN lease with three 5-year renewal options, featuring 10% rent increases at the beginning of each option period. This ensures consistent, inflation-hedged income growth. The single-tenant building, constructed in 2002, sits on a 0.68-acre lot with ample parking (41 spaces). Located on N Stewart Street (7,800 vehicles per day) and with convenient access to State Highway 199 (32,900 vehicles per day), the property benefits from high visibility and traffic. Its strategic outparcel location within Lake Plaza (148,000 sq ft) and proximity to a Walmart Supercenter-anchored center, along with other national retailers, guarantees strong consumer traffic. The property's strong demographics include a 5-mile trade area with over 40,100 residents and 10,100 daytime employees, boasting an average household income exceeding $122,553. The current Net Operating Income (NOI) is $235,354, representing a 6.00% cap rate on the $3,922,000 asking price. This property offers a management-free investment with significant upside potential due to the lease terms and prime location. The Tax Parcel Number (APN) is 37003--3.

• CAP approach

  CAP return

  Valuation

  6%

  $904,959

  6.5%

  $835,347

  7%

  $775,679

• Comparable approach

  Method

  Valuation

  Relative Method

  $945,882

  Geo Method

  $2,150,988

• Alternative Use

  Use

  Valuation

  Residential

  $704,646

  Hospitality

  $645,452

  Educational

  $537,009

  Medical

  $555,477

  Retail

  $835,347

Location Insight

City

Azle

County

Tarrant

State

Texas

Latitude

32.8932

Longitude

-97.5384

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].