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1220 N Kimball Ave 7,047 SF 100% Leased Office Building Southlake, TX 76092 For Sale 6% Cap Rate
Investment Highlights
- Passive Single-Tenant NNN Structure – No landlord responsibilities, ideal for 1031 exchange or long-term hold investors
- Attractive Yield – 6.00% cap rate on $113,884 NOI
- National Credit Tenant – Physical Therapy, operating in multiple states with over 200 locations.
- Stable Income Stream – Approx. 5 years of primary lease term remaining with renewal options available
- Built-In Growth – 3% annual rent increases provide steady NOI growth and enhance exit value
- Modern Construction – ±2,825 SF medical facility built in 2022 minimizes capital expenditures
Executive Summary
Located in the highly desirable Southlake submarket, 1220 N Kimball Ave, Unit 120 offers investors a compelling opportunity to acquire a modern, single-tenant medical property backed by a passive NNN lease structure. The ±2,825 SF facility was built in 2022 and is leased to a national physical therapy operator with more than 200 locations across multiple states.
The property generates approximately $113,884 in annual NOI at a 6.00% cap rate, with approximately five years remaining on the primary lease term plus renewal options. 3% annual rent increases provide built-in income growth while supporting long-term value appreciation.
With no landlord responsibilities, a strong national credit tenant, modern construction, and minimal anticipated capital expenditures, the property is well suited for 1031 exchange buyers and long-term hold investors seeking stable, growing income. Its Southlake location also provides excellent access to State Highway 114 and surrounding professional and medical corridors, supported by strong area demographics and continued demand for quality commercial space.
The property generates approximately $113,884 in annual NOI at a 6.00% cap rate, with approximately five years remaining on the primary lease term plus renewal options. 3% annual rent increases provide built-in income growth while supporting long-term value appreciation.
With no landlord responsibilities, a strong national credit tenant, modern construction, and minimal anticipated capital expenditures, the property is well suited for 1031 exchange buyers and long-term hold investors seeking stable, growing income. Its Southlake location also provides excellent access to State Highway 114 and surrounding professional and medical corridors, supported by strong area demographics and continued demand for quality commercial space.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
7,047 SF
Building Class
B
Year Built
2022
Cap Rate
6%
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
7,047 SF
Building FAR
0.10
Lot Size
1.63 AC
Zoning
O1 - Medical/Office
Parking
40 Spaces (5.68 Spaces per 1,000 SF Leased)
Fairly walkable
50/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 42564989 | Improvements Assessment | $137,000 |
| Land Assessment | $1,863,000 | Total Assessment | $2,000,000 |
Property Taxes
Parcel Number
42564989
Land Assessment
$1,863,000
Improvements Assessment
$137,000
Total Assessment
$2,000,000
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