Historical Retail Sale Listing - Montfort-LBJ Retail Center

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Montfort-LBJ Retail Center

5620 Montfort Drive, Dallas, TX 75240

N/A

6,219 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
6,219 SF
Property Type:
Retail
Property Sub-type:
Strip Center
Additional Sub-types:
Community Center
Neighborhood Center
Property Use Type:
Investment
Cap Rate:
7.65%
Occupancy:
90%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1985
Lot Size:
20,695 SF
Listing ID
14926976
Last Updated
over 1 year ago

Highlights

  • Located in the center of the D/FW metro area
  • Great access and visibility to freeway
  • Excellent tenant mix
  • Major regional shopping malls across the street
  • Located less than one mile from D/FW tollway
  • Most leases extend for 4-5 more years

Description

NEW PRICE--CAP RATE BASED ON 90% OCCUPANCY-- LEASES EXTEND THRU 2010 AND BEYOND-- Free standing building containing approximately 6,219 square feet located at the intersection of I-635 (LBJ Freeway) and Montfort Drive directly across the street from Valley View Mall, a major regional indoor shopping mall. Property is anchored by a Sprint Wireless store and contains four (4) additional tenants (a convenience store, check cashing operation, mortgage and tax service and cleaner "pick-up only" store.) The building has excellent visibility and access to LBJ Freeway and the property is located within the busy north Dallas corridor between U.S. 75 (North Central Expressway) to the east and I-35E to the west. Numerous retail centers, office buildings, shopping centers and restaurants are located along LBJ Freeway, with a traffic count of over 130,000 cars per 24 hour period in front of the subject property.

The intersection of LBJ Freeway and Montfort Drive is in the center of the D/FW metro area and is located less than one (1) mile east of the Dallas North Tollway, a major north/south freeway which extends approximately eight (8)miles to the south to downtown Dallas and to the north approximately twenty (20) miles through the cities of Addison, Plano and Frisco. The tollway is currently being extended to the north an additional ten (10) miles through the city of McKinney and will eventually be the most trafficed north/south thoroughfare in the Dallas metroplex. LBJ Freeway is a major thoroughfare which forms a loop around the City of Dallas with Montfort Drive being the approximate center of the loop. Valley View Mall-- anchored by Macy's, Dillards, Sears, JC Penny, an AMC movie theatre and over 200,000 square feet of retail--is located across the street. The Galleria--a major regional shopping mall anchored by Nordstroms, Saks Fifth Avenue, Macy's, and a Westin Hotel--is located less than one mile from the subject property at the intersection with LBJ Freeway and Dallas North Tollway.

Map of 5620 Montfort Drive, Dallas, TX 75240 (Dallas County)

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Created 12/20/2006