Flower Mound, TX - Mi Dia

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, franchisee guaranteed, freestanding, Mi Dia from Scratch, investment property located in Flower Mound, TX (Dallas-Fort Worth MSA). The tenant, Windsor Restaurant Ventures, LP, currently has more than 2 years remaining in their initial lease term with 3 (5-year) options to extend. There are fair market value based increases at the beginning of each option period. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.

Mi Dia from Scratch is positioned at the signalized, hard corner intersection of W Windsor Drive and Long Prairie Road, averaging more than 42,300 combined vehicles passing by daily. Moreover, the site is positioned less than one mile north of Cross Timbers Road, averaging an additional 36,500 VPD. Mi Dia has excellent visibility along both cross-streets, and benefits from is position within densely populated and thriving retail, medical, and residential districts. The asset is positioned across from two new developments coming to the city of Flower Mound: The River Walk at Central Park (158 acres) and Windsor Crossing (24,800 SF). The River Walk at Central Park will serve as a vibrant downtown for the residents of Flower Mound, and will integrate commercial, office, retail, dining, medical, and residential uses in a variety of building types. The development will include an amphitheater, chapel, movie theater, hotel (Courtyard Marriott), and much more. Windsor Crossing shares an intersection with Mi Dia, and will entail a 24,800 SF shopping center, bringing even more retail tenants and consumer draw to the immediate trade area. Currently, nearby national/credit tenants within the already dense retail corridor include Kroger, Lifetime Fitness, Hobby Lobby, Sprout’s Grocery, Dick’s Sporting Goods, Belk, ULTA Beauty, and more. Additionally, the site is positioned as a part of a dense medical/office park serving the city, and is across from Texas Health Presbyterian Hospital, a newly constructed medical facility with 101 beds and more than 400 physicians, providing a direct consumer base to draw from. The dense 5-mile trade area is supported by more than 184,000 residents and 66,000 employees. Residents within a 3-mile radius boast an affluent average household income of $175,320.