Independence Medical Center | 5501 Independence Pkwy
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Independence Medical Center 5501 Independence Pkwy
51,684 SF 79% Leased Office Building Plano, TX 75023 For Sale
Investment Highlights
- Fantastic location at the corner of Spring Creek Parkway and Independence Parkway in the center of Plano.
- As of the most recent census data collected, Plano's population stands at 290,000 and growing year over year.
- **Listing broker has an ownership interest in this property
- The average household income in Plano is $120,835 with 53% of the population with a college degree.
- *Rooftop rights were sold by a previous owner
- Most tenants are currently on NNN leases and the property sits at about 83% occupancy
Executive Summary
Independence Medical Center ("IMC") is a multi-tenant,3-story medical office building well located in the heart of Plano, TX at the hard corner of Independence Parkway and Spring Creek Boulevard. The property was built in 1986 and renovated in 2019-2020. IMC has approximately 57,478 SF and sits on 3 acres of land surrounded by retail, residential, and nearby hospitals. The property currently has 28
suites and a large atrium with a glass skylight offering tons of natural light. Upon acquisition, current ownership spent significant capital
improving the landscaping, waterproofing the building, modernizing the restrooms and lobby by adding new flooring, new LED lighting, furniture, wall decor, good walls, and a digital directory. IMC is near several hospitals: 5.2 miles from Baylor Scott & White, The Heart Hospital - Plano,3.6 miles to the Medical City of Plano, and 5.1 miles to TexasHealth Presbyterian Hospital of Dallas. Tenants are currently on NNN leases and the property sits at about 83% occupancy. There is significant room to improve the performance of the asset by filling the remaining vacancies.
Independence Medical Center is being offered for sale on a fee-simple, free, and clear basis.
*Rooftop rights were sold by a previous
**The listing broker has an ownership interest in this property
suites and a large atrium with a glass skylight offering tons of natural light. Upon acquisition, current ownership spent significant capital
improving the landscaping, waterproofing the building, modernizing the restrooms and lobby by adding new flooring, new LED lighting, furniture, wall decor, good walls, and a digital directory. IMC is near several hospitals: 5.2 miles from Baylor Scott & White, The Heart Hospital - Plano,3.6 miles to the Medical City of Plano, and 5.1 miles to TexasHealth Presbyterian Hospital of Dallas. Tenants are currently on NNN leases and the property sits at about 83% occupancy. There is significant room to improve the performance of the asset by filling the remaining vacancies.
Independence Medical Center is being offered for sale on a fee-simple, free, and clear basis.
*Rooftop rights were sold by a previous
**The listing broker has an ownership interest in this property
Property Facts
Sale Type
Investment
Sale Condition
Tenants option to buy property
Property Type
Office
Property Subtype
Building Size
51,684 SF
Building Class
B
Year Built
1986
Percent Leased
79%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
17,228 SF
Slab to Slab
11 ft
Building FAR
0.40
Lot Size
3.00 AC
Zoning
RT/O-M - Medical Office
Parking
177 Spaces (3.08 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Signage
- Natural Light
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Fl-Ste 113-117
- 1,229 SF
- Office/Medical
- Full Build-Out
- Now
This space was formerly an orthodontic clinic. Can be turned around to being a med spa.
Former Training/Physical Therapy Space
- 3rd Fl-Ste 311
- 404 SF
- Office/Retail
- Full Build-Out
- Now
- 3rd Fl-Ste 312
- 847 SF
- Office/Medical
- Full Build-Out
- Now
Three private offices with a large reception or conferencing area. Small room for storage or to be used as a break room.
- 3rd Fl-Ste 320
- 1,004 SF
- Office/Retail
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 113-117 | 1,229 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 201 | 4,149 SF | Office/Medical | Full Build-Out | Now |
| 3rd Fl-Ste 310 | 1,667 SF | Office/Medical | Full Build-Out | Now |
| 3rd Fl-Ste 311 | 404 SF | Office/Retail | Full Build-Out | Now |
| 3rd Fl-Ste 312 | 847 SF | Office/Medical | Full Build-Out | Now |
| 3rd Fl-Ste 314 | 1,755 SF | Office/Retail | Full Build-Out | Now |
| 3rd Fl-Ste 320 | 1,004 SF | Office/Retail | Full Build-Out | Now |
1st Fl-Ste 113-117
| Size |
| 1,229 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 201
| Size |
| 4,149 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 310
| Size |
| 1,667 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 311
| Size |
| 404 SF |
| Space Use |
| Office/Retail |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 312
| Size |
| 847 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 314
| Size |
| 1,755 SF |
| Space Use |
| Office/Retail |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 320
| Size |
| 1,004 SF |
| Space Use |
| Office/Retail |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 201
| Size | 4,149 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
This space was formerly an orthodontic clinic. Can be turned around to being a med spa.
1 of 9
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3rd Fl-Ste 310
| Size | 1,667 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Former Training/Physical Therapy Space
1 of 1
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3D TOUR
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STREET VIEW
STREET
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3rd Fl-Ste 314
| Size | 1,755 SF |
| Space Use | Office/Retail |
| Condition | Full Build-Out |
| Available | Now |
Three private offices with a large reception or conferencing area. Small room for storage or to be used as a break room.
1 of 15
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Independence Medical Center | 5501 Independence Pkwy
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