Knockout Sports Bar
Knockout Sports Bar is a 5,905 square foot, single tenant restaurant leased asset positioned at the intersection of three primary city thoroughfares in an established commercial corridor of Dallas, Texas. situated on 1.43 acres of land, the Property is located approximately 10 minutes northwest of Downtown Dallas. Knockout Sports Bar signed a 10-year lease through May 2028 with multiple corporate and personal guarantees for the entire lease term from entities including Park Asset Management, LLC (“PAM”), IMS Limited (“IMS”) and In Fretta Franchising, LLC (“In Fretta”). Priced at a 6% cap rate on current rent, the Property offers near term upside with a 10.18% rent escalation occurring in June 2023 which increases the cap rate to 6.61% at list price. The lease features two, 5-year renewal options with 10% escalations in each option. Knockout Sports Bar benefits from Mixed Use 3 Zoning which includes up to 4.5:1 FAR capability and up to 270 feet of vertical development*. With the long-term residual value created by flexible zoning and pricing at $36.33 per square foot to the land, the Property also presents a potential covered land play. Surrounding area retailers include PNC Bank, LOOK Cinemas, Olive Garden, Chili’s Grill & Bar, Taco Bell, Wendy’s, Raising Cane’s, Pappasito’s Cantina & Pappadeaux Seafood Kitchen, Among Others.