400 N 15th St
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400 N 15th St
2,550 SF Retail Building Corsicana, TX 75110 £603,141 (£237/SF) 6.95% Net Initial Yield
Investment Highlights
- SINGLE-TENANT MEDICAL OFFICE INVESTMENT WITH GROWING NATIONAL EYE CARE SERVICES PROVIDER
- 4TH MOST POPULOUS MSA IN THE U.S.
- PASSIVE NN LEASE WITH OVER 5 YEARS REMAINING & ONE FIVE-YEAR OPTION
- STRONG RETAIL LOCATION WITH EASY INTERSTATE 45 ACCESS
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire 400 N 15th Street (“the Property”), a bite -sized 2,550 square foot medical office building located in the Dallas-Fort Worth suburb of Corsicana, TX. The tenant, MyEyeDr, a national eye care practice with over 500 locations, just renewed for an additional five years on a NN basis, expressing commitment to the location. Attractive seller financing is available, providing a cash-on-cash return above 9%.
Corsicana, located approximately half way between Dallas and Waco, is a city steeped in history. Renowned as the birthplace of the Texas oil industry, Corsicana witnessed the State’s first oil discovery in 1894, transforming it into a bustling oil boomtown and one of Texas’ wealthiest cities. Today, Corsicana is a high-growth community offering a unique blend of historical charm and modern opportunity.
The Property, built in 2006, benefits from a strategic location along Interstate 45, providing easy access to Dallas and Houston, as well as an ideal retail location with excellent visibility and abundant nearby retail amenities in downtown Corsicana.
Corsicana, located approximately half way between Dallas and Waco, is a city steeped in history. Renowned as the birthplace of the Texas oil industry, Corsicana witnessed the State’s first oil discovery in 1894, transforming it into a bustling oil boomtown and one of Texas’ wealthiest cities. Today, Corsicana is a high-growth community offering a unique blend of historical charm and modern opportunity.
The Property, built in 2006, benefits from a strategic location along Interstate 45, providing easy access to Dallas and Houston, as well as an ideal retail location with excellent visibility and abundant nearby retail amenities in downtown Corsicana.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,550 SF
Year Built
2006
Price
£603,141
Price Per SF
£237
Net Initial Yield
6.95%
NOI
£41,946
Tenancy
Single
Number of Floors
1
Building FAR
0.16
Lot Size
0.36 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
5.88 Spaces per 1,000 SF Leased
Amenities
- Corner Lot
- Signage
Walk Score ®
Very Walkable (73)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 35755 | Improvements Assessment | £175,357 |
| Land Assessment | £61,928 | Total Assessment | £237,285 |
PROPERTY TAXES
Parcel Number
35755
Land Assessment
£61,928
Improvements Assessment
£175,357
Total Assessment
£237,285
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400 N 15th St
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