PICKLEBALL/PADEL/OTHER SPORTS RESTAURANT DEVELOPMENT OPPORTUNITY – APPROVED PD AND 80% COMPLETE PLANS

For more information or to schedule a site visit, please contact the listing agent:
https://www.loopnet.com/Listing/360-S-State-Rd-Coppell-TX/39054727/

This 1.61-acre development site on State Highway 121 in Coppell, TX offers an advanced-stage opportunity for a mixed-use pickleball/padel facility. The property has approved Planned Development (PD 323-HC) zoning, and civil engineering and architectural design are approximately 80% complete, materially reducing entitlement risk, shortening the development timeline, and saving a buyer significant soft costs.

PROPERTY DETAILS

The approved plans support a 17,490 square foot building with the following layout:
•Pickleball/Padel/Sports Club: 12,835 SF
•Restaurant Space: 2,485 SF
•Retail Space: 2,170 SF
•Parking: 72
•Ceiling Height: 25-29'
•Construction Time: 9 month
•PD approved 24/7 operation time for sport club, 5am-12am for restaurant/retail
•City-approved tax Incentive ~$200,000

The site is located in Coppell within the Dallas-Fort Worth Metroplex, with State Highway 121 frontage providing strong visibility and access. The property benefits from affluent local demographics: median household income of $113,091 within a 5-mile radius (49% above the national average), population of 218,735, and 53% of residents holding college degrees. The median age of 37 aligns well with the target demographic for pickleball and padel facilities.


DEVELOPMENT TIMELINE & COST SAVINGS

With PD approval secured and plans 80% complete, the typical 12-18 month entitlement process has been substantially completed. A buyer can move directly into final permitting and construction phases, with an estimated 12-month timeline to operational status. The completed civil engineering and architectural work represents significant soft cost savings that would otherwise need to be incurred by a new buyer.


FINANCIAL PERFORMA
Total Project Cost: $4,000,000
Construction Cost: $227/sqft
Estimated Market Value (completed): $290/sqft or $5,073,000

SBA Financing Available:
•Down Payment (20%): $800K
•Loan Amount: $3.2MM
•Interest Rate: 6.5%
•Monthly Payment: $21,607

Rental Income Potential (if leasing all spaces):
•Restaurant: $40/SF × 2,485 SF = $99,400 annually
•Retail: $35/SF × 2,170 SF = $75,950 annually
•Sports Club: $16/SF × 12,835 SF = $205,360 annually
•Total Annual Income: $380,710

Investment Returns (Full Lease Scenario):
•Annual Rental Income: $380,710
•Annual Debt Service: $259,284
•Net Annual Cash Flow: $121,426
•CoC Return: 15.2% on $800,000 down payment
•Estimated Value at 7% Cap Rate: $5,439,000

LOIs received for both restaurant and retail spaces.

This property works best for two types of buyers:
Business Owner-Operator: Operate the pickleball/padel club (12,835 SF) while owning the real estate. Lease out the restaurant and retail spaces to generate $175,350 annually, which offsets a significant portion of the mortgage payment.
Real Estate Investor: Lease all spaces to tenants and collect $380,710 in annual rental income, generating $121,426 in annual cash flow after debt service (15.2% CoC).


LOCATION & MARKET CONTEXT

Coppell is part of the Dallas-Fort Worth Metroplex, the 4th largest metro area in the United States with 8.2 million residents. The region has added 820,000 residents over the past five years and leads the nation in post-pandemic employment growth. The immediate area features median home values of $418,920 and a highly educated, active population with strong disposable income—favorable demographics for entertainment and recreation businesses.


TRANSACTION DETAILS

The property qualifies for SBA financing. Tax incentives are available. The seller has completed the entitlement and design phases and is now seeking a buyer to execute the construction and operational phases.