3317 State Highway 114Southlake, TX 76092

Property Details for 3317 State Highway 114

Year built

2000

Lot size

1.55 AC

Property size (Sq ft)

5,147 SF

Property type

Turn key restaurants

APN

39608H-A-6R1

APU

39608HA6R1

Description

This exceptional 5,147-square-foot freestanding restaurant building is situated on a 1.55-acre lot in desirable Southlake, Texas, and is available for lease starting July 1, 2024. The property boasts 59 parking spaces, with the possibility of a cross-parking agreement. Its convenient location near Southlake Town Square and the Grapevine border offers excellent visibility and accessibility. The building benefits from its proximity to major medical facilities, including Baylor Regional Medical Center of Grapevine, and its close distance to Dallas/Fort Worth International Airport (only 4 miles away). The surrounding area is anchored by a strong concentration of national retailers, such as Walmart, Sam's Club, Target, Kohl's, Tom Thumb, Lowe's, and CVS Pharmacy, ensuring high foot traffic and a robust customer base. A significant advantage is the exceptionally low negotiated electricity rate of $0.04012 cents/kWh, which will be assigned to the tenant, representing a savings of over 50% per month compared to the current market rate of $0.084. This presents a unique opportunity for cost-effective operation. The address is 3317 E State Hwy 114, Southlake, TX 76092. Please note: Do not disturb the current tenant. Contact for pricing and further information.

• CAP approach

  CAP return

  Valuation

  6%

  $1,470,188

  6.5%

  $1,357,097

  7%

  $1,260,162

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,688,194

  Geo Method

  $1,560,603

• Alternative Use

  Use

  Valuation

  Residential

  $1,144,762

  Hospitality

  $1,048,596

  Educational

  $872,420

  Medical

  $902,423

  Retail

  $1,357,097

Location Insight

City

Southlake

County

Tarrant

State

Texas

Latitude

32.9364

Longitude

-97.0998

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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