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3921 Gaston Ave 5,230 SF 100% Leased Retail Building Dallas, TX 75246 $5,343,000 ($1,021.61/SF) 5.25% Cap Rate
Executive Summary
DuWest Realty Investment Services is pleased to present the opportunity to acquire a newly re-positioned, two-tenant, corporate-guaranteed net lease investment located in the core of Dallas along Gaston Avenue. The 5,320 square-foot property was formerly a bank branch and has been completely redeveloped and re-positioned for modern restaurant use, creating a highly functional quick-service retail asset with strong national tenancy. The property is 100% leased to two nationally recognized brands,
Chipotle and Luna Grill, both operating under corporate guarantees. Chipotle features a new 15-year lease term with 10% rental increases every five years and four 5-year renewal options, creating long-term income stability and strong built-in rent growth. Luna Grill complements the tenancy with a 10-year lease term, 12.5% rental increases every five years, and two 5-year renewal options, further enhancing the property’s income profile and long-term investment appeal.
Strategically positioned along Gaston Avenue, one of the primary commercial corridors serving the urban core of Dallas, the asset benefits from strong visibility and significant daily traffic volumes. The property sits within the immediate trade area of Baylor University Medical Center, one of the largest medical campuses in North Texas. The hospital employs more than 5,000 medical professionals, features over 900 beds, and sees more than 300,000 patients annually, creating a constant flow o f employees, visitors, and patients that supports strong daytime demand for quick-service dining.
Additionally, the site benefits from an exceptional daytime population exceeding 311,000 people within a three-mile radius, driven by the surrounding medical district, office employment centers, and dense residential neighborhoods. This dynamic environment produces consistent lunchtime and daily dining traffic, m aking the location particularly well suited for fast-casual restaurant concepts.
The combination of new construction adaptive reuse, corporate credit tenancy, longterm leases with contractual rent increases, and a premier infill medical district location positions this asset as a highly attractive opportunity for investors seeking stable, growing cash flow in Dallas’ core urban market.
Chipotle and Luna Grill, both operating under corporate guarantees. Chipotle features a new 15-year lease term with 10% rental increases every five years and four 5-year renewal options, creating long-term income stability and strong built-in rent growth. Luna Grill complements the tenancy with a 10-year lease term, 12.5% rental increases every five years, and two 5-year renewal options, further enhancing the property’s income profile and long-term investment appeal.
Strategically positioned along Gaston Avenue, one of the primary commercial corridors serving the urban core of Dallas, the asset benefits from strong visibility and significant daily traffic volumes. The property sits within the immediate trade area of Baylor University Medical Center, one of the largest medical campuses in North Texas. The hospital employs more than 5,000 medical professionals, features over 900 beds, and sees more than 300,000 patients annually, creating a constant flow o f employees, visitors, and patients that supports strong daytime demand for quick-service dining.
Additionally, the site benefits from an exceptional daytime population exceeding 311,000 people within a three-mile radius, driven by the surrounding medical district, office employment centers, and dense residential neighborhoods. This dynamic environment produces consistent lunchtime and daily dining traffic, m aking the location particularly well suited for fast-casual restaurant concepts.
The combination of new construction adaptive reuse, corporate credit tenancy, longterm leases with contractual rent increases, and a premier infill medical district location positions this asset as a highly attractive opportunity for investors seeking stable, growing cash flow in Dallas’ core urban market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
5,230 SF
Building Class
B
Year Built/Renovated
1989/2026
Price
$5,343,000
Price Per SF
$1,021.61
Cap Rate
5.25%
NOI
$280,513
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Amenities
- Pylon Sign
- Drive Thru
Exceptionally walkable
90/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0007650A000010000 | Improvements Assessment | $650,200 |
| Land Assessment | $2,025,000 | Total Assessment | $2,675,200 |
Property Taxes
Parcel Number
0007650A000010000
Land Assessment
$2,025,000
Improvements Assessment
$650,200
Total Assessment
$2,675,200
Contacts
-
Will Walters -
Alex Speed Throckmorton -
Josie Trent -
Bill Pyle -
Matthew Banas -
Griffin Till -
DuWest Realty
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