214-294-4439
16800 N Dallas Pky, Dallas, TX for Sale
Medical - FOR SALE
1/21
null | Request Cap Rate

16800 N Dallas Pky
Dallas, TX 75248
Prestonwood


HIGHLIGHTS

  • Sizeable value-add upside through small tenant leasing in a bustling submarket that is complimented by mark-to-market renewals.
  • NNN leasing opportunities abound as buildings within the competitive set have started transitioning their leasing platforms.
  • A variety of vacancy options creates opportunity for new leasing and possible owner-occupants that want to control their real estate needs.
  • Attractive designs with versatile layouts, recent renovations and access to impressive array of area amenities.
  • Proximate to some of DFW’s most desired neighborhood demographics, the area around the Property is home to local office decision makers.
  • Best-in-Class asset quality with extensive capital infusion that limits near term investment requirements.

OVERVIEW

Younger Partners has been exclusively retained to offer qualified buyers the opportunity to acquire Parkway North (“Property”). Located along the thriving North Dallas Tollway, the Property is comprised of almost 70,000 square feet of professional office / medical space. Anchored by an established roster of long-term tenants, the diverse rent roll provides established income in a high-profile location. A desirable mix of small suites appeals to the broadest segment of the submarket’s tenancy and represents a compelling value creation opportunity. Offered for sale free and clear as a fee simple acquisition, the Property was built in 1979 and most recently renovated in 2023. Offered at a significant discount to replacement cost, Parkway North offers investors a bite-sized entry into a premier submarket of Dallas and the opportunity to execute a value-add lift on a noteworthy parcel of land. The two-story design has shallow bay depths that are ideal for small tenant suites that cater to the decision makers that populate the surrounding neighborhoods. Operated with an institutional mindset, the building has undergone nearly $700,000 in recent updates to address mechanical and cosmetic needs. As a result, potential buyers will be able to focus their efforts on leasing rather than deferred maintenance issues. Average lease rates at Parkway North are at least $12/sf less than the Far North Dallas submarket average ($31.25/sf - Q4 2025). This results in a strong market position within the competitive set for potential buyers to create value at an attractively low basis.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Parkway North

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

224

LAND DETAILS

LAND ACRES

3.08 AC

LAND SF

134,265 SF

ZONING

O-2

APN/PARCEL ID

00000799950300000

ASK ABOUT THIS PROPERTY

Tom StrohbehnYounger Partners Dallas, LLCMore Info
214-294-4439

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Tom StrohbehnYounger Partners Dallas, LLCMore Info
214-294-4439

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