Firebirds Wood Fired Grill | Absolute NNN | DFW MSA
Retail | 5.43% CAP | 6,341 SqFt
Marketing description
Anzco Real Estate Services is pleased to exclusively offer for sale the Firebird's Wood Fired Grill located at 450 W State Highway 114 in Grapevine, Texas. This single-tenant absolute NNN investment opportunity features a new 15-year ground lease with corporate guarantee from Firebirds International, LLC. The property is positioned at the confluence of State Highway 114 and State Highway 121 in the heart of the Dallas/Fort Worth metroplex.
The trophy real estate location provides high-profile freeway exposure, immediately north of DFW Airport, the 2nd busiest airport in the world serving approximately 88 million passengers in 2024. The property is located in a major convention and tourism destination, with the Gaylord Texan Resort and Convention Center featuring one-half million square feet of meeting space. The City of Grapevine sees approximately 19 million visitors annually.
This new construction property built in 2024 features approximately $5.5 million invested in the building and site improvements. The absolute NNN ground lease is ideal for a passive investor/absentee landlord, with fixed 10% rent increases every 5 years providing an average yield of 6% across the lease term. Firebirds International, LLC operates 75+ locations across 21 states.
Investment highlights
- 15 YEAR GROUND LEASE - Absolute NNN ideal for passive investor/absentee landlord.
- CORPORATE GUARANTEE - Firebird's International, LLC. 70+ units across 21 states.
- CONVENTION & TOURISM DESTINATION - Gaylord Texan Resort and Convention Center has one-half million square feet of meeting space. The City of Grapevine sees ~19 million visitors annually.
- NEW CONSTRUCTION - Built in 2024. Approximately $5.5 MM invested in the building and site improvements.
- INFLATION HEDGE - Fixed 10% increases each 5 years. Average yield of 6% across the lease term.
- DFW AIRPORT - Located immediately north of DFW airport, 2nd busiest airport in the world serving ~88 million passengers in 2024.
- LONE STAR STATE - Texas has no state income tax. DFW is the 4th largest MSA in the US. 25% of all Texans live in the DFW metroplex.
- TROPHY REAL ESTATE - High-profile freeway location positioned at the confluence of State Highway 114 and State Highway 121, Grapevine, TX.
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