17776 Dallas Pkwy | III Forks Steakhouse

Contact

BLAKE BARNES

972-514-2254
blakebarnes@duwesrealty.com
 
WILL WALTERS
214-217-0108
wilwalters@duwestrealty.com
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Location

17776 Dallas Pkwy, Plano, TX 

Price:  
$12,050,000
Cap Rate:  
8.5%
Description

DuWest Realty Investment Services is pleased to offer for sale the iconic III Forks Steakhouse in Dallas, Texas. III Forks has operated out of this irreplaceable location on the North Dallas Tollway for 20 years, and has just renewed its lease an additional 12 years through July 2030. The lease is absolute net and corporate guaranteed by Consolidated Restaurant Operations (CRO). CRO operates eight restaurant brands including El Chico, Cool River Café, and Cantina Laredo. The company is headquartered in Dallas and has over 100 restaurant locations around the world.

One of seven III Forks locations across the country, the original Dallas restaurant is the largest and most recognizable with 16 dining rooms and seating for up to 900 people. III Forks brands itself as the ultimate in the fine-dining experience with a Texas style: great food, great atmosphere and great music.

The building is 23,000 square feet and sits on over 3 acres of land in the heart of the North Dallas Tollway. This submarket offers unparalleled demographics, with over 138,000 residents and an average household income of $102,400 in the 3-mile radius. Additionally, the lease has annual rent increases to help counter inflation and create a safe, long-term asset for any investor.

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