1805 Parmer LnAustin, TX 78754

For Sale
$3,733,000

High-yield, 15-year net lease investment.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 15-year absolute net ground lease with Chick-fil-A, commencing March 19, 2025, and expiring March 31, 2040. The property, located at 1805 E Parmer Ln, Austin, TX 78754, boasts a 2,702 square foot building on a 1.21-acre lot. Built in 2025, this single-story structure features a drive-thru only prototype with a double drive-thru component and outdoor seating. The lease includes six five-year options with a 10% rent increase every five years and at each option renewal. The property enjoys a prime location with excellent visibility and access, situated adjacent to Whataburger on East Parmer Lane (27,950 AADT) near its intersection with Dessau Road (26,733 AADT). The strong demographics are highlighted by a daytime population of 256,004 within a 5-mile radius, an average household income of $109,291 within 3 miles, and projected 34% home value appreciation within 1 mile by 2029. The area benefits from proximity to major employers like Dell, Samsung Austin Semiconductor, and St. David's Healthcare, further enhancing the investment's appeal. The asking price is $3,733,000, representing a 3.75% cap rate and a net operating income (NOI) of $140,000. This is a rare opportunity to acquire a high-performing Chick-fil-A ground lease in a rapidly growing Austin market, less than 10 miles from The University of Texas at Austin.

Highlights

  • 15-Year Absolute Net Ground Lease with Chick-fil-A.
  • No landlord responsibilities.
  • 10% rental escalations throughout the primary lease term.
  • New drive-thru only building with double drive-thru and outdoor seating.
  • High-volume Chick-fil-A location.
  • Less than 10 miles from the University of Texas at Austin.

Property Details for 1805 Parmer Ln

Property type
Other retail properties, Restaurants
Square Feet
2,702 SF
Year Built
2025
Buildings
1
Stories
1
Lot Size (sq. ft)
52,708 SF

Location Insight

City
Austin
County
Travis
State
Texas
Latitude
30.38554
Longitude
-97.64737
1805 Parmer Ln, Austin, Texas

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1805 Parmer Ln
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