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3710 CHEEK SPARGER RD Bedford TX 76021

[Locked] • APN 41192923

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Details
Property Type General
Building SqFt 6,676
Lot SqFt 41,827
Acreage ******
Zoning Code H
Year Built 2017
Building Count 1
Opportunity Zone No
Lease Type ******
Lease Term ******
Remaining Term ******
Lease Expiration ******
Mortgage Amount ******
Mortgage Term ******
Interest Rate ******
Mortgage Recording Date ******

Property History

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Property Type
Property Type
Retail
Marketing Description
Real Capital Investments is pleased to present to qualified investors the opportunity to acquire a CityVet situated on approximately 0.96 acres of land in the affluent Dallas suburb of Bedford, Texas. The property is strategically located on Cheek Sparger Road, a major east/west thoroughfare connecting with Highway 121. Traffic counts on Cheek Sparger Road exceed 21,000 vehicles per day, with an additional 97,000 vehicles per day traveling on nearby Highway 121. This is a densely populated location with over 203,000 people living in a 5-mile radius of the property. Average household income within this 5-mile radius exceeds $108,000. The property is located approximately 4 miles from the Dallas-Fort Worth International Airport, the second largest airline hub in the world. According to the FAA, the Dallas-Fort Worth International Airport is also the fourth-busiest airport in the world, with over 69 million passengers last year, creating an economic impact of more than $37 billion. The property is located at the south entrance to Glade Parks, 194-acre, mixed-use development containing over 800,000 square feet of retail and restaurant space anchored by Super Target at the north entrance and Walmart Supercenter at the south entrance. Over 400 luxury apartments and 125 custom single-family homes have been completed, adding a residential consumer-base to the development. Additionally, HEB Grocery owns the parcel immediately across from the property, which will generate even more daily needs traffic to the area. This CityVet asset provides an internet resistant investment with multiple product lines; CityVet offering exceptional veterinary care, Ruffit offering pet boarding, bathing and grooming services, and CityPet offering a retail component to the business by selling pet food and supplies. The asset features new, high quality construction with a long term NNN lease, with no landlord responsibilities whatsoever, creating stable cashflow for an investor.
Investment Highlights
  • 15 Year Absolute NNN Lease – Stable Cash Flow Asset – Zero Landlord Responsibilities – Three (5-Year) Options to Renew
  • 10% Rent Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • Rare Investment Opportunity – Few Pet Industry Investments Available to Private Capital
  • Internet Resistant Investment with Multiple Product Lines; CityVet Offering Exceptional Veterinary Care, Ruffit Offering Pet Boarding, Bathing and Grooming Services, and CityPet Offering a Retail Component to the Business by Selling Pet Food and Supplies
  • Premier Private Equity Leadership – RiverGlade Capital, a Leading Healthcare Services Private Equity Investment Firm with Ownership in 3 Operating Companies Has Extensive Experience in Owning and Managing 11 Previous Healthcare Service Businesses
  • Densely Populated, Infill Location with Excellent Demographics – Over 203,000 People in a 5-Mile Radius with Average Household Income Exceeding $108,000
  • High Traffic Location – Over 21,000 Vehicles Per Day on Cheek Sparger Road with an Additional 97,000 Vehicles Per Day Traveling on Highway 121
  • Located Approximately 4 Miles from the Dallas-Fort Worth International Airport, the Second Largest Airline Hub in the World
  • Situated at the South Entrance to Glade Parks, 194-Acre, Mixed-Use Development Containing Over 800,000 Square Feet of Retail and Restaurant Space
  • A Super Target to the North, a Walmart Supercenter to the South and a Future HEB Grocery Coming Directly Across the Street from the Property Ensure a Tremendous Amount of Daily-Needs Traffic in the Trade Area
  • Recent Residential Growth – Over 400 Luxury Apartments and 125 Custom Single-Family Homes Have Been Completed, Adding More Residential Consumer-Base to the Development
  • Extremely High Daytime Population with More Than 109,000 Employees, Over 9,300 Businesses and Over 12 Million Square Feet of Office Space in a 5-Mile Radius
  • Near Many Major Corporate Campuses Including GameStop, QuikTrip, Kubota and the American Airlines Headquarters with Over 7,000 Employees
  • Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset

Loan History

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Financial History

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****** Data
Net Operating Income
******
Reporting Date
******

Tax History

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Contact Information

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Ownership Information

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Property Details

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Contacts

Listing removed on
 BY:
RB
Randy Bell PRO
•••.•••.3670
bell@••••••••••••••••••••••.com
Brokerage logo
Listing removed on
 BY:
CB
Chadd Bossow
•••.•••.3674
••ssow@••••••••••••••••••••••.com
Brokerage logo

Map

Comparable Properties

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Rental Market Overview

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Bedford, TX median rent ********
***  ****** **** *** ******** ***
National median ********
Compare median rents across markets
Bedford, TX (this market)
Studio ******** 1 bed ******** 2 bed ********
Studio ******** 1 bed ******** 2 bed ********
Studio ******** 1 bed ******** 2 bed ********
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