7304 Denton HwyWatauga, TX 76148
- Retail properties
- 3,782 SF
Property Details for 7304 Denton Hwy
- Year built
- 2015
- Lot size
- 1.23 AC
- Property size (Sq ft)
- 3,782 SF
- Property type
- Retail properties
- Property subtype
- Drive through restaurants
- APN
- 17388-1-5
- APU
- 1738815
Description
This exceptional investment opportunity presents a 3,782 square foot McDonald's/CosMc's restaurant located at 7304 Denton Hwy, Watauga, TX 76148, in Tarrant County. The property sits on a sizable 1.23-acre lot and benefits from a strong 10.5-year remaining lease term (expiring 05/31/2035), commencing May 1, 2024, with a corporate guarantee from McDonald's. The lease is a triple-net (NNN) structure, offering investors significant passive income potential. The current asking price is $2,541,000, yielding a 5.00% cap rate, projected to increase to 4.40% after the first year due to a 10% rent increase in 2025, with further 10% increases every five years thereafter. The property underwent renovations in 2024 and boasts a 100% occupancy rate, generating a net operating income (NOI) of $127,050. The location is highly desirable, situated on Denton Highway, a major thoroughfare with over 45,000 vehicles per day, connecting Fort Worth and Denton. The surrounding area is affluent, with over 311,000 residents within a 5-mile radius and an average household income exceeding $137,000. This is only the third CosMc's location nationwide and the second in the Dallas-Fort Worth area, representing a unique and promising investment in a rapidly growing market. The lease includes five, five-year options to renew, providing long-term stability and growth potential. This is a motivated seller seeking a year-end closing.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,053,418
- 6.5%
- $972,386
- 7%
- $902,930
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,101,054
- Geo Method
- $2,502,884
-
Alternative Use
- Use
- Valuation
- Residential
- $820,244
- Hospitality
- $751,339
- Educational
- $625,105
- Medical
- $646,604
- Retail
- $972,386
Location Insight
- City
- Watauga
- County
- Tarrant
- State
- Texas
- Latitude
- 32.8782
- Longitude
- -97.2608
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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