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Popeyes Ground Lease 13001 Texas 29

2,400 SF Retail Building Liberty Hill, TX 78642 $1,758,000 ($733/SF) 4.75% Cap Rate

Investment Highlights

  • Brand New 20 Year Absolute NNN Lease to Largest Popeyes Franchisee
  • 2024 Construction Featuring Drive-Thru Component
  • Growing Austin MSA Community - 4,000+ Housing Units Recently Built & In Development Pipeline
  • Scheduled 10% Rental Escalations in Primary Term and at Options
  • Adjacent to Liberty Hill Elementary School & Louise Noble Elementary School
  • 6.01% Annual Rate within 5 Mile Radius

Executive Summary

The subject property is prominently located with excellent access and visibility along West TX-29 (23,618 AADT) within a rapidly growing community. The site benefits from robust demographics with a population of 46,432 within a 5 mile radius and annual growth rate of 6.01%. Average household income within 5 miles of the site is $137,941. The site is located approximately 14 miles from Georgetown, 26 miles from Round Rock, and 33 miles from Austin.
The site benefits from a prominent retail location adjacent to Liberty Hill Middle School and Louine Noble Elementary School adjacent to a recently developed Starbucks and planned Popeye’s. Major retail tenants in the surrounding area include Tractor Supply Company, Dollar General, Dutch Bros Coffee, Schlotzsky’s, and more.
Nearby development activity includes Kaufman Loop Apartments, featuring 144 residential units and a new H-E-B; Butler Farms, a 366-acre master-planned community slated to include 2,000+ new single-family homes; Core Spaces, which will include 144 multifamily townhomes and 374 single family rental homes; Hidden Lane Glen, a 136-unit multifamily development; Fort Tumbleweed, a 476-unit condo and apartment development; Avila Vista, featuring 150 new residential units; Rio Oaks, featuring 260 new apartments; Pohl Tract, slated to include 766 new residential units; and Liberty Center, expected to include 240 apartments as well as retail space.
This property is listed in conjunction with Texas-licensed real estate broker Delta Commercial.

Property Facts

Sale Type
Investment
Sale Conditions
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,400 SF
Building Class
B
Year Built
2024
Price
$1,758,000
Price Per SF
$733
Cap Rate
4.75%
NOI
$83,505
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.95 AC

Amenities

  • Signage

Nearby Major Retailers

Starbucks
CrossFit
Victory Martial Arts
Dutch Bros

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
R605650
Land Assessment
$1,724,349
Improvements Assessment
$570,468
Total Assessment
$1,724,349
  • Listing ID: 31482657

  • Date on Market: 4/11/2024

  • Last Updated:

  • Address: 13001 Texas 29, Liberty Hill, TX 78642

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