2325 W. SOUTHLAKE BLVD.SOUTHLAKE, TX
OFFERING MEMORANDUM
FOR SALE OR LEASE
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.
CONFIDENTIALITY & DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the partyreceiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus &Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only apreliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subjectproperty, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence orabsence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of theimprovements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy ofthe subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however,Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted anyinvestigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of theinformation provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
NON-ENDORSEMENT NOTICE
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. Thepresence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation ofMarcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included forthe purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. DO NOT CONTACT TENANTS. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
TABLE OF CONTENTS
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.
1. INVESTMENT HIGHLIGHTS2. OFFERING SUMMARY3. MAP & RETAIL AERIAL4. PROPERTY PHOTOS 5. MARKET OVERVIEW6. DEMOGRAPHICS
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.
INVESTMENT HIGHLIGHTS
EXECUTIVE SUMMARYMarcus & Millichap is pleased to present for sale or lease, this free standing single tenant drive-thru
restaurant located in Southlake, Texas. The subject property consists of +/- 3,069 square feet of buildingsituated on approximately 30,762 square feet of land. The subject property is well positioned onSouthlake Boulevard, and is exposed to over 33,750 vehicles per day. Presently operated as a restaurant,the subject property has undergone significant tenant improvements and complete remodel workexceeding $475,000 in costs.
With its excellent location in close proximity to the dense Dallas Fort Worth area, and positioned ina healthy market that has a median household income exceeding $165,000, 2325 Southlake Boulevardpresents an excellent opportunity for an operator or concept to purchase or lease irreplaceable restaurantreal estate located in the rapidly growing and affluent Southlake market.
➢ MEDIAN HOUSEHOLD INCOME EXCEEDS $165,000 WITHIN A 3 MILE RADIUS, WITH ANEXPECTED POPULATION GROWTH OF OVER 8% BY THE YEAR 2024 IN THIS MARKET.
➢ TRAFFIC COUNTS ON SOUTHLAKE BOULEVARD EXCEED 33,700 VEHICLES PER DAY.
➢ CURRENT OWNER HAS SPENT MORE THAN $475K ON BUILDING REMODELS AND PERMITS.
➢ SUBJECT PROPERTY IS LOCATED WITHIN 30 MINUTES OF THE DALLAS & FORT WORTH.
➢ WITHIN 3.5 MILES OF DOWNTOWN SOUTHLAKE AND SOUTHLAKE TOWN SQUARE.
OFFERING SUMMARY
SITE DESCRIPTION Address 2325 W. Southlake Blvd.
Southlake, TX
Building Size 3,069 SF
Lot Size 0.72 Acres
Parcel Number 06994679, 06994687
Zoning Commercial
Year Built 1997
Year Renovated 2018
Parking Lot Surface Concrete
Available Parking
PRICE $1,650,000Price/SF $537.63
RENOVATION HIGHLIGHTSEXTERIOR
RENOVATIONSINTERIOR
RENOVATIONS
PAINT DINING ROOM AREA
BRICK FACADE BATHROOM REMODEL
ROOF MODIFICATION KITCHEN EQUIPMENT
AWNINGS KITCHEN VENT HOODS
BUILDING LIGHTS ANSEL SYSTEM
PARKING LIGHTS & STRIPING DISMANTEL HOOD
CAMERAS KITCHEN REMODEL
LANDSCAPE WORK DINING ROOM MENU
SIGN DRIVE-THRU INTERCOM
DRIVE THRU MENU KITCHEN WARE
DEMOLITION COSTS POS SYSTEM
FEES & PERMITTINGCITY CONSTRUCTION TAXES REMODEL PERMITS
ADA COMPLIANCE PRINTING
ASBESTOS REPORTS WATER FEES
ELECTRICAL PERMITS CONTRACTOR COSTS
OVER $475,000 IN REMODEL WORK & PERMITTING.
ASKING RENT: CONTACT AGENTS
REGIONAL MAP
RETAIL AERIAL
RETAIL AERIAL
EXTERIOR PHOTOS
INTERIOR PHOTOS
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.
Southlake is a suburb located a short 30 minutes from both Dallas and Fort Worth, Texas. The city is located inTarrant County, and is one of the most desired places to live in all of Texas. Living in Southlake offers residents asuburban feel, and most residents own their homes. Downtown Southlake offers a number of restaurants, coffee shops,and local parks.Southlake is considered very safe and family friendly, with some of the highest rated public schools in the entire state;these are among some of the most attractive reasons to individuals moving to the city of Southlake, and is the drivingforce behind the continued positive growth in the area.
SOUTHLAKE, TEXAS
5 MILE POPULATION
173,0118.4% by 2024
HOUSEHOLDS (5 MILE)
58,9698.3% by 2024
AVG. HOUSEHOLD INCOME
$166,38210.6% by 2024
MARKET OVERVIEW
17
1 Miles 3 Miles 5 Miles
POPULATION2019 Total Population 7,137 57,128 173,0112024 Population 7,621 61,917 187,568Population Growth 2019-2024 6.78% 8.38% 8.41%Average Age 38.4 38.6 38.4
HOUSEHOLDS2019 Total Households 2,310 18,831 58,969HH Growth 2019 – 2024 7.01% 8.48% 8.32%Median HH Income $157,051 $166,382 $124,276Avg. HH Income $185,644 $187,406 $155,082Avg. Household Size 3.1 3.0 2.0
HOUSINGMedian Home Value $482,405 $467,576 $359,521
RACE & ETHNICITYWhite 6,060 50,160 150,208Black 231 1,618 6,627American Indian 16 260 1,024Asian 642 3,770 11,067Hawaiian & Pacific Island 3 42 214Other 185 1,278 3,870
DEMOGRAPHICS
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.