NNN Sale Portfolio w/Long-term Tenant - Central/West TX

4066 S Danville Drive Abilene, TX 79605

4066 S Danville Drive, Abilene, TX, 79605
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FOR SALE
Property Type:
Restaurant
Amount:
$11,500,000
Last Verified:
Jan 29, 2024

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Description

Portfolio sale of 5 parcels and 1 land lease in Central/West Texas with long standing tenant Fazoli's, which is an Italian fast casual franchise concept with a loyal customer base. Fazoli’s 2023 average per unit sales $2.3M+. NOI $910,974, Cap Rate 7.9%.


All locations are freestanding buildings with a drive thru. Leases expire in January 2031 and have three 5 year options to renew. Locations are in high traffic trade areas surrounded by retail and restaurants. Franchise business is for sale and must sell prior to selling the real estate.

Parcel #1 Abilene, TX - 3,916SF built in 2002, renovated in 2020, on 1.73 acres
Parcel #2 Midland, TX - 3,826SF built in 1998, renovated in 2019, on 1.14 acres
Parcel #3 Lubbock, TX- 3,720SF built in 1997, renovated in 2020, on 0.87 acres
Parcel #4 Lubbock, TX - 3,599SF built in 2000, renovated in 2018, on 1.13 acres
Parcel #5 Amarillo, TX - 4,438SF built in 1997, renovated in 2019, on 1.47 acres
Land Lease Odessa, TX - 3,360SF built in 2000, renovated in 2018, on 0.62 acres

6 locations in Central/West TX

Building Size: 3916sq ft
Lot Size: 0 acres

Map of 4066 S Danville Drive, Abilene, TX, 79605

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because: