6208 Mcneil Dr - Bank FOR SALE


Austin, TX 78729
$2,928,000 USD
510-289-1166
6208 Mcneil Dr, Austin, TX for Sale
$2,928,000 USD
Bank - FOR SALE
1/2
null | 5.25% Cap Rate

6208 Mcneil Dr
Austin, TX 78729


HIGHLIGHTS

  • Trophy NNN Corporate Ground Lease to Wells Fargo (NYSE: WFC)
  • Tenant has Operated at this Location for Nearly 20 Years
  • Irreplaceable Location Down the Street from New 133-Acre Apple Campus
  • Tenant has Exercised their Renewal Early, Showing their Long-Term Commitment to the Site
  • Total Daytime Population of 301,274 and Average Household Income of $139,068 within 5-Mile Radius
  • Investment Grade Tenant Rated A1 by Moody’s & BBB+ by S&P

OVERVIEW

The subject property is prominently located at the junction of W Parmer Lane (26,400 AADT) and McNeil Drive (44,746 AADT) with excellent access and visibility in a strong retail corridor. The site benefits from excellent demographics with a total daytime population of 301,274 and an average household income of approximately $140,000 within 5 miles of the site. The property benefits from excellent visibility and access outparcel to Parmer McNeil Plaza, with tenants including Starbucks, Chipotle, Schlotzsky’s, Whataburger, Great Clips, Chase Bank, Shell, and more. The site neighbors McNeil Crossing, an H-E-B-anchored center with additional tenants including Subway, Goodwill, FedEx, Wendy’s, and more. There are several high-end car dealerships nearby such as BMW of Austin, Alfa Romeo of Austin, Tesla, Bentley of Austin, and more. The site neighbors numerous major Austin area employers. It is located less than a mile from Apple’s new $1 billion North Austin campus which will house up to 15,000 employees. Research Park, a 173,000 square foot business park is less than 2 miles from the property and is home to Visa, Cisco, Flex, and many others. Additional nearby employers include eBay, Accenture, Allergen, SparkCognition, Intertek Alchemy, IGT, and more. In addition, the subject property four miles from 441-bed Saint David’s North Austin Medical Center, which provides comprehensive medical services and is home to the St. David’s Women’s Center of Texas, which includes a Level III NICU, St. David’s Children’s Hospital, the Texas Institute for Robotic Surgery, Certified Stroke Center and rehabilitative services, the Kidney Transplant Center, and 24-hour emergency room. Inspire Development’s mixed use Pearson Ranch project is in the works just three and a half miles from the site. It will feature 2.6 million square feet of office space, 200,000 square feet of retail, restaurant, and community space, as well as two hotels, thousands of multifamily units, and 30 acres of parks. Additionally, 48 acres will be devoted to a corporate campus, perfect for the area’s booming tech sector. McNeil High School (2,690 students) and Jollyville Elementary School (507 students) are less than a mile from the site. The schools draw significant additional traffic from students, teachers, and parents. There are several luxury apartment and housing communities within walking distance such as Windsor Apartments, Stone Oak, The Monterra, Highline, and Riata Crossing. This property is listed in conjunction with Texas-licensed real estate broker Delta Commercial.

FOR SALE DETAILS

PRICE

$2,928,000 USD

PRICE/SF

$697 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Wells Fargo Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

-

APN/PARCEL ID

02720003190000

ASK ABOUT THIS PROPERTY

Putnam DailyFisher James CapitalMore Info
510-289-1166

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Putnam DailyFisher James CapitalMore Info
510-289-1166

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