2330 Interstate 30 | Mesquite, TX 75150
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2330 Interstate 30
Mesquite, TX 75150
LEAF Commercial Capital (Subsidiary of M&T ) · Office Property For Sale
Investment Highlights
- Absolute NNN Lease
- Investment Grade Corporate Tenant
- High-Growth Texas MSA
- Long Lease Term Remaining
- High Traffic Interstate Access
- Annual Rent Increases
Executive Summary
Northmarq, on behalf of Ownership, is pleased to offer for sale the Fee Simple ownership interest in 2330 Interstate 30, Mesquite, TX 75150, a commercial office home to a long-term tenant with demonstrated commitment to the location. The Property is located in Dallas County, at the high traffic interchange of Interstates 635 and 30, which are set to complete a multi-year project to improve traffic flows later this year.
The Property is a 14,967-square-foot single story freestanding office building, on a 1.24-acre parcel of land.
The Tenant is LEAF Commercial Capital (LEAF), a subsidiary of M&T Bank (NYSE: MTB), an investment grade American bank holding company (S&P BBB+). LEAF provides equipment leasing and financing solutions for a variety of industries, including healthcare, construction, and technology.
The Lease is absolute NNN. The initial term of 15 years has 6 years remaining with built-in 1% annual rental rate increases and 2, 5-year options remaining. The Tenant has shown additional commitment to the site through recent updates to signage, the exterior window awnings, and landscaping.
The Property is a 14,967-square-foot single story freestanding office building, on a 1.24-acre parcel of land.
The Tenant is LEAF Commercial Capital (LEAF), a subsidiary of M&T Bank (NYSE: MTB), an investment grade American bank holding company (S&P BBB+). LEAF provides equipment leasing and financing solutions for a variety of industries, including healthcare, construction, and technology.
The Lease is absolute NNN. The initial term of 15 years has 6 years remaining with built-in 1% annual rental rate increases and 2, 5-year options remaining. The Tenant has shown additional commitment to the site through recent updates to signage, the exterior window awnings, and landscaping.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
14,967 SF
Building Class
C
Year Built
1987
Price
£2,961,481
Price Per SF
£198
Net Initial Yield
8%
NOI
£236,934
Tenancy
Single
Number of Floors
1
Typical Floor Size
14,967 SF
Building FAR
0.28
Lot Size
1.24 AC
Zoning
C-Mesquite
Parking
36 Spaces (2.4 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 382160000B01A0000 | Improvements Assessment | £1,324,359 |
| Land Assessment | £519,091 | Total Assessment | £1,843,450 |
PROPERTY TAXES
Parcel Number
382160000B01A0000
Land Assessment
£519,091
Improvements Assessment
£1,324,359
Total Assessment
£1,843,450
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