Property Name

Smoothie King Ground Lease

Location

3903 Lemmon Avenue
Dallas, TX 75219

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Property Description

Smoothie King Ground Lease is located on Lemmon Avenue within the prestigious Oak Lawn neighborhood of Dallas, Texas.  Positioned just off the intersection with Oak Lawn Avenue, the Property sits on approximately 12,327 square feet of land just moments from prominent DFW neighborhoods such as Uptown, Turtle Creek, Downtown, Highland Park and University Park.  Smoothie King, which benefits from a drive-thru, has over 16 years remaining on a 20-year ground lease with four, 5-year renewal options.  Base rent increases 2% annually during the primary term and all renewal periods.  Additionally, the lease calls for percentage rent of 6% over the natural breakpoint.  Nearby retailers within walking distance include Eatzi’s, Pet Supermarket, Einstein Bros. Bagels, Pizza Hut, Panera Bread, Verizon, Starbucks, Sherwin-Williams, Goody Goody Liquor, Papadeaux Seafood Kitchen, Sprint, La Madeline and numerous others.

Status


In Escrow

GLA


1,049 SF

Percent Leased


100% Leased

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