Investment Highlights
Corporately guaranteed, NNN lease
Rent Increases During Term and Options
Great Location off I-35
10.5 Years of Term Left
6% Rent to Sales Ratio
In an Area of Retail Concentration
Executive Summary
The P.F. Chang?s in Waco, TX is a 7,064 Sq. Ft. restaurant situated on a 2.34 acre lot. The property was built in 2018 and has been maintained in excellent condition since. Its curb appeal is enhanced by a modern fa?ade and xeriscape landscaping. P.F. Chang?s has been in this location since the property was built, and has 10.5 years left on a true NNN, corporately guaranteed lease. There is an 8% rent increase in 2028 and 10% rent increases in all options. The tenant reports sales on a monthly basis, with current rent to sales ratio at 6%. P.F. Chang?s was started in 1993 and has since grown to over 300 locations worldwide. The lease, tenant profile and current sales make this offering a stable and secure investment opportunity with minimal landlord responsibilities.The property benefits from a location right off of I-35 (92k+ ADT), the major highway connecting Austin to Dallas-Fort Worth. It is surrounded by other restaurants and hotels, and right across Central Texas Marketplace, the largest power center in Waco with retailers such as Kohl?s, Belk, Ross, Joann, Burlington, Best Buy, Petco, Cabela?s, Home Goods and others. It is only 3 miles from the Richland Mall and 5 miles from the Baylor University Campus with 17,000 students. Waco?s metro area has grown to over 300,000 residents, and average household incomes in the immediate vicinity of the property exceed $85,000.The P.F. Chang?s in Waco TX presents investors with the opportunity to acquire a property with stable and secure income stream at a great retail location in a growing market.
