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280 Commerce St
Southlake, TX 76092
Southlake Commons · Office Property For Sale
Investment Highlights
- 99% occupied, ±105,000 SF lifestyle center with Triple-net leases and no options
- Southlake ranks #8 among nation's most affluent communities; avg HH income $171,556
- Over $700,000 in recent CAPEX including $392,000 silicone roof and $300,000 parking lot work
- Diverse mix of internet-resistant, experience-based tenants including youth sports and fitness
- Offered at $218/SF — attractive basis with current avg rent of $18/SF, below market comps
- WALT ±3.13 years; 45.8% of tenants in place 5+ years, 16.7% in place 10+ years
Executive Summary
Broker Of Record
Patrick Graham
Matthews Real Estate Investment Services, Inc
528005, 9005919 (TX)
2699 Howell St., Suite 400, Dallas, TX 75204 (866) 889-0550
Patrick Graham
Matthews Real Estate Investment Services, Inc
528005, 9005919 (TX)
2699 Howell St., Suite 400, Dallas, TX 75204 (866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
105,000 SF
Building Class
B
Year Built/Renovated
1986/1996
Price
$22,850,000
Price Per SF
$217.62
Cap Rate
7.72%
NOI
$1,764,427
Percent Leased
81%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
52,500 SF
Building FAR
0.58
Lot Size
4.15 AC
Zoning
F1 - Commercial
Parking
129 Spaces (1.23 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 40012069 | Improvements Assessment | $5,365,870 |
| Land Assessment | $904,130 | Total Assessment | $6,270,000 |
Property Taxes
Parcel Number
40012069
Land Assessment
$904,130
Improvements Assessment
$5,365,870
Total Assessment
$6,270,000
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