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500 S Lake Dallas Dr.

9,993 SF 82% Leased Retail Building Lake Dallas, TX 75065 £1,301,850 (£130/SF) 7.15% Net Initial Yield

Investment Highlights

  • Wide variety of uses make it easy to lease.
  • Heavy Traffic Count
  • Freestanding building
  • 100% occupied.
  • Fenced in yard
  • HVAC Units 2018-2019 / Roof 2019 / Parking lot 2022 / Fence 2019

Executive Summary

Highest CAP rate property has been offered at yet. Average lease rate $12.26psf plus NNN and yearly escalations. Excellent freestanding investment 100% leased for past 3+ years with existing tenants in great condition with no known differed maintenance.
C-3 zoning offers a wide range of uses from Medical & Office to Retail and even Automotive sales.
Lake Dallas is located between I-35 and the toll bridge gateway to 50,000+ residents, opening up to many residential and business options.
As of 2016 the population was 7,881, however the lake cities combined totals well over 35,000 of immediate residents within a small radius, not including those major cities that pass through this area daily with I-35 traffic count of 122,000 and Lake Dallas drive alone having 5,000+!

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Day Care Centre
Building Size
9,993 SF
Building Class
C
Year Built/Renovated
1975/2018
Price
£1,301,850
Price Per SF
£130
Net Initial Yield
7.15%
NOI
£93,098
Percent Leased
82%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.22
Land Acres
1.05 AC
Zoning
C3, Lake Dallas - C3 with IH35E Overlay
Parking
29 Spaces (2.91 Spaces per 1,000 SF Leased)
Frontage
198 ft on Lake Dallas Drive

Amenities

  • Signage
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 503
  • 1,820 SF
  • Retail
  • -
  • Now

Space is approximately 59'3" x 30'9" with electricity, water, plumbing & hvac/ac. Additional finishout will be required. Landlord to contibute based on tenant and terms of lease.

Space Size Space Use Position Available
503 1,820 SF Retail - Now

503

Size
1,820 SF
Space Use
Retail
Position
-
Available
Now

503

Size 1,820 SF
Space Use Retail
Position -
Available Now

Space is approximately 59'3" x 30'9" with electricity, water, plumbing & hvac/ac. Additional finishout will be required. Landlord to contibute based on tenant and terms of lease.

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PROPERTY TAXES

Parcel Number R62668 Improvements Assessment £547,946
Land Assessment £163,063 Total Assessment £711,009

PROPERTY TAXES

Parcel Number
R62668
Land Assessment
£163,063
Improvements Assessment
£547,946
Total Assessment
£711,009
(940) 228-6221

  • Listing ID: 28710206

  • Date on Market: 09/06/2023

  • Last Updated:

  • Address: 500 S Lake Dallas Dr., Lake Dallas, TX 75065

The Retail Property at 500 S Lake Dallas Dr., Lake Dallas, TX 75065 is currently available For Sale. Contact Compass RE Texas LLC for more information.

Retail PROPERTIES IN NEARBY NEIGHBOURHOODS

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© 2024 CoStar Group

500 S Lake Dallas Dr.
(940) 228-6221 x

500 S Lake Dallas Dr.

Christopher DiGino

(940) 228-6221

(940) 228-6221

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