Floor & Decor - Mesquite, TX_Property for Sale

1330 N Town E Blvd, Mesquite, TX, 75150, US

Floor & Decor - Mesquite, TX

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in a freestanding Floor & Décor located at 1330 N Town E Blvd in Mesquite, TX (“Property” or “Asset”). The Property is occupied by Floor and Décor Outlets (“Tenant”) which operates on a NN lease with ±7.2 years of initial term remaining, 10% rent increases every 5-years and two, five-year renewal options.

Located just 12 miles east of downtown Dallas, Mesquite is a vibrant, diverse community located at the intersection of major Texas highways. The Asset is situated along N Town E Blvd, just east of Interstate 635 with direct accessibility to more than 204,000 vehicles per day.

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Attributes

Asking price

MYR 45,735,000

Cap rate

6.5%

NOI

MYR 2,973,000

WAULT

7.2 years

Building area net

9,844 m²

Land area gross

3.52 ha

Media

Investment Highlights

Operating on a net lease with ±7.2 years of primary lease term remaining and two, five-year renewal options with 10% rent increases every 5-years
#5 most visited Floor & Decor location in Texas (out of 31) and in the top 21% of locations throughout the nation (Placer.ai)
Below market rent of $6.23 PSF
Situated between shopping centers with 13.1M combined visits annually
Adjacent to Interstate 635 with direct access to 204,000 VPD
Strong demand characteristics driven by 1-mile AHHI of $90K and 306K+ residents within a 5-mile radius
Mesquite is developing 10,000 new homes in the area, set to increase population by more than 30,000 individuals.