13460 Midway Rd - Freestanding FOR SALE


Farmers Branch, TX 75244
$7,136,434 USD
714-875-2400
13460 Midway Rd, Farmers Branch, TX for Sale
$7,136,434 USD
Freestanding - FOR SALE
1/8
null | 4.6% Cap Rate

13460 Midway Rd
Farmers Branch, TX 75244


HIGHLIGHTS

  • LONG TERM LEASE - The subject property has close to 19 years remaining on the initial term of an Absolute NNN Lease.
  • ZERO LANDLORD RESPONSIBILITIES - Absolute NNN Lease. Ideal for Investors not Local to the Market or looking for a "hands o?" investment.
  • RENTAL INCREASES - 10% Rental increases every 5 years throughout the base term and option periods.
  • EXCELLENT VISIBILITY/TRAFFIC COUNTS - Site is visible from Interstate 35 with 176,049 Vehicles Per Day.
  • OUTSTANDING DEMOGRAPHICS - There are over 350,000 residents within a 5-mile radius of the property.
  • STRONG CORPORATE GUARANTOR - The lease is corporately guaranteed by National Veterinary Associates (NVA) Inc. (1,100 veterinary clinic operator).

OVERVIEW

Prime Net Lease is pleased to present this newly remodeled Petsuites located in Farmers Branch, TX. The 15,633 SF building was originally constructed in 1974, remodeled in August 2022 and sits on 1.05 Acres of land. The property is secured with a brand new twenty (20) Year Absolute NNN Lease, leaving zero landlord responsibilities.  The original corporately guaranteed lease has close to 19 years currently remaining on its initial term. This absolute NNN lease features 10% rental increases every 5 years during the base term and grants the Tenant five successive 5-year options to extend the lease. The lease is backed by a strong corporate guarantee from the parent company, National Veterinary Associates (1000+ Units).  This PetSuites is strategically located along Midway Road (seeing 50,486 vehicles per day). The site is surrounded by office and industrial properties and is located a quarter mile away from Dallas College Brookhaven Campus. The five-mile population from the site is 319,777 and the three-mile average household income is $102,701 per year. This area is and has been experiencing a healthy population growth averaging 4.4% annually. Total consumer spending within a 5-mile radius is estimated at $4.5 Billion.  The Dallas–Fort Worth–Arlington metroplex, is a metropolitan statistical area in the U.S. state of Texas encompassing 11 counties. Its core cities are Dallas and Fort Worth. It is the economic and cultural hub of North Texas. The Dallas–Fort Worth–Arlington metropolitan statistical area's population was 7,637,387 according to the U.S. Census Bureau's 2020 census, making it the most populous metropolitan area in both Texas and the Southern United States, the fourth-largest in the U.S., and the tenth-largest in the Americas. In 2016, the Dallas–Fort Worth metroplex had the highest annual population growth in the United States.

FOR SALE DETAILS

PRICE

$7,136,434 USD

PRICE/SF

$456 USD /SF

CAP RATE

4.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Petsuites

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

1.05 AC

LAND SF

45,738 SF

ZONING

LI

APN/PARCEL ID

24127500010020000

ASK ABOUT THIS PROPERTY

Paul MatusikPrime Net LeaseMore Info
714-875-2400

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Paul MatusikPrime Net LeaseMore Info
714-875-2400

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.