1200 Central FwyWichita Falls, TX 76301

Property Details for 1200 Central Fwy

Lot size

0.81 AC

Zone code

GC

Property type

Parking lots & garages

APN

0470 118 02

APU

47011802

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 1,650 square foot Starbucks located at 1200 Central E Fwy, Wichita Falls, TX 76301. Built in 2024, this single-story building sits on a 0.812-acre lot and boasts a 10-year NNN lease with a commencement date of July 9, 2024, and an expiration date of July 30, 2034. The lease includes five, 5-year options, with attractive 10% rent increases every 5 years. The tenant, Starbucks Corporation, is an investment-grade tenant with a strong financial history. The property benefits from a high-traffic location on Central E Fwy, seeing over 42,300 vehicles daily, and is situated across from the newly constructed Wichita Falls Legacy High School. The 5-mile population is 62,445, with an average household income of $65,907 within a 3-mile radius. The property's Net Operating Income (NOI) is $155,832, resulting in a 6.20% cap rate. Starbucks handles all maintenance, minimizing landlord responsibilities. This is a rare opportunity to acquire a high-performing, low-maintenance investment in a rapidly growing area of Texas. The asking price is $2,513,420. The lease is corporately guaranteed, providing significant security for the investor. This property offers a compelling combination of strong tenant, excellent location, and attractive lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $9,780,347

  6.5%

  $9,028,013

  7%

  $8,383,154

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,381,281

  Geo Method

  $10,715,314

• Alternative Use

  Use

  Valuation

  Residential

  $7,615,466

  Hospitality

  $6,975,726

  Educational

  $5,803,722

  Medical

  $6,003,322

  Retail

  $9,028,013

Location Insight

City

Wichita Falls

County

Wichita

State

Texas

Latitude

33.8865

Longitude

-98.4676

CBSA code

48660

CBSA name

WICHITA FALLS, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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