1120 West Pipeline Road

Highlights:

• Passive, Landlord-Friendly NNN Lease Structure Investors benefit from a highly passive ownership structure with the tenant responsible for property taxes, insurance, roof, structure, parking lot, HVAC, utilities, maintenance, and all operating expenses. The lease effectively minimizes ownership responsibilities while preserving stable cash flow.
• Premier Signalized Corner with Exceptional Traffic Exposure The property occupies a signalized hard-corner position at West Pipeline Road and Melbourne Road, immediately adjacent to Interstate 820. The surrounding roadway network generates more than 145,000 vehicles per day, providing exceptional visibility, access, and customer convenience.
• Infill Dallas-Fort Worth Location Supported by Dense Demographics Situated within the heart of the DFW Metroplex, the property serves a mature and highly developed trade area with more than 265,000 residents within a five-mile radius. The site’s dense population base and established residential neighborhoods create a durable customer foundation that is difficult to replicate through new development.
• Strategic Position Near Major Regional Retail Destinations The property benefits from proximity to North East Mall, one of the largest shopping destinations in the Dallas-Fort Worth Metroplex, encompassing more than 1.3 million square feet of retail space, along with the adjacent Shops at North East Mall. These established retail drivers generate significant daytime and evening consumer traffic throughout the corridor.
• Irreplaceable Texas Real Estate Backing an Iconic Texas Brand Investors are acquiring a fee simple interest in a long-standing Whataburger location within one of the strongest retail markets in Texas. As the Dallas-Fort Worth Metroplex continues to attract population growth, employment expansion, and corporate investment, the underlying real estate offers both income security and long-term appreciation potential.

Description:

Long-Term Corporate Lease with 10+ Years of Term Remaining
Whataburger recently exercised a new 10-year lease extension through May 31, 2037, demonstrating its long-term commitment to this location and providing investors with durable income backed by a corporate tenant. The lease also includes two additional five-year renewal options, extending potential occupancy through 2047.



Scheduled 10% Rental Increases Drive Future NOI Growth
Unlike many legacy net lease investments with flat rent schedules, this lease features contractual 10% rent increases every five years, providing built-in inflation protection and growing cash flow over the investment horizon. Annual rent increases from $187,200 to $205,920 in 2032, followed by $226,512 in 2037 and $249,163 in 2042 if options are exercised.



Strong Whataburger Credit and Exceptional Operating History
The property is leased to Whataburger Restaurants, LLC, one of the largest and most recognized quick-service restaurant operators in the United States, with more than 800 locations and a dominant presence throughout Texas. This location has remained in continuous operation for over four decades, reflecting the strategic importance of the site and the strength of the brand in its home market.



Proven Unit-Level Performance with Consistent Sales Growth
The restaurant’s sales have increased from approximately $3.62 million in 2022 to more than $4.08 million in 2025, representing nearly 13% growth over the past three years. The strong upward trend highlights the location’s continued relevance, customer loyalty, and ability to generate increasing revenues despite a mature operating history.

Documents: