Dairy Queen (Amarillo MSA)

801 East Park Avenue, Hereford, TX

$840,000

Price

6.15%

Cap Rate

$51,636

NOI

Overview
Cap Rate
6.15%
NOI
$51,636
Building Size
2,108 sqft
Lot Area
0.8 acres
Lease Type
Triple Net
Year Built
1970
Description

Marcus & Millichap is pleased to present the opportunity to acquire a Dairy Queen located in Hereford, Texas. Dairy Queen offers a 20-year, triple net lease with more than 16 years remaining on the base term. There are four, five-year renewal options with 10 percent rental increases every five years throughout the base term and option periods. The subject property consists of a 2,108-square foot free-standing building, situated on a 0.8-acre parcel.

The lease is guaranteed by Square 1 Restaurants, LLC which is one of the largest Dairy Queen franchisees in Texas and the Dairy Queen system, currently owning and operating 45 DQ restaurants.

This Dairy Queen restaurant is located in Hereford, Texas. Hereford is part of the Amarillo, Texas metro area, which is the heart of cattle country and is a major transportation hub in the Texas panhandle.

Broker of Record:
Tim Speck
District Manager, Texas
tim.speck@marcusmillichap.com
Lic. # 9002994

Highlights
  • 20-Year, Triple Net (NNN) Lease with More Than 16 Years Remaining on Base Term
  • Four, Five-Year Renewal Options
  • 10 Percent Rental Increases in Base Term and Option Periods
  • Square 1 Restaurants, LLC is One of the Largest Dairy Queen Franchisees, Currently Owning and Operating 45 DQ Restaurants
  • Part of the Amarillo, Texas Metro Area, Which is the Heart of Cattle Country and is a Major Transportation Hub in the Texas Panhandle
Documents
Title
Offering Memorandum
* Documents permissions are set by the listing owner, request information to access locked documents.

Location
Gallery