Boundaries Coffee | 27078 US-380
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Boundaries Coffee 27078 US-380
858 SF Retail Building Little Elm, TX 75068 $1,750,000 ($2,040/SF) 6% Cap Rate
Investment Highlights
- 20-Year Lease Through February 2043; Rent Escalations Every 5-Years & Two, 5-Year Renewal Options
- Explosive Growth Along Highway 380 (42,200 VPD-24); TXDOT Projects Over 112,500 VPD on US 380 by 2045
- Average Household Income Exceeds $160,600 & $165,000 in a 1 & 3-Mile Radii, Respectively
- Large, 0.83-Acre Parcel, Drive-Thru, Walk-Up Window, Large Outdoor Patio/Recreation Area & Direct Access to US 380
- Proximity to Notable New Costco, H-E-B, Walmart, Kroger & Other Large-Format Retail Developments
- Over 978% Population Increase from 2000 to 2024
Executive Summary
Boundaries Coffee is a freestanding, 858 square foot drive-thru asset situated on approximately 36,154 square feet (0.83 acres) along the high-profile US Highway 380 (University Drive) frontage in the affluent, highly desirable northern DFW submarket of Little Elm, Texas. The Property is approximately 40 minutes northwest of Downtown Dallas, minutes from OMNI PGA Resort, Fields West development and Universal Parks & Resort. Boundaries Coffee recently executed a brand new 20-year ground lease through February 2043. The lease features rent escalations every 5 years and two, 5-year renewal options. Built in 2023, the Property benefits from a large, 0.83-acre parcel demonstrating strong residual value, highly-visible frontage to Highway 380 with direct ingress/egress, a drive-thru, a walk-up window and a sizable outdoor patio/recreation area. The 858 square foot building also includes a 330 square foot mezzanine area.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
858 SF
Building Class
B
Year Built
2023
Price
$1,750,000
Price Per SF
$2,040
Cap Rate
6%
NOI
$105,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
0.83 AC
PROPERTY TAXES
| Parcel Number | R496143 | Improvements Assessment | $673,132 |
| Land Assessment | $720,482 | Total Assessment | $1,393,614 |
PROPERTY TAXES
Parcel Number
R496143
Land Assessment
$720,482
Improvements Assessment
$673,132
Total Assessment
$1,393,614
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Boundaries Coffee | 27078 US-380
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