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Interurban Investment Opportunity 401-403 N Interurban St 7,700 SF 100% Leased Retail Building Richardson, TX 75081 $2,163,000 ($280.91/SF) 7.15% Cap Rate



INVESTMENT HIGHLIGHTS
- Newly Renovated Masonry Construction Multi-Tenant Asset Located in the Dense & Affluent DFW Submarket of Richardson, TX
- Highly Anticipated Turn Key Make Ready Improvements for Suite 200; Bathroom, New Drywall, Polished Floor, Exposed Vaulted Ceiling & HVAC
- Richardson Ranks as 14th Best City to Live in America & 14th Best City to Raise a Family in America (Niche.com)
- Rents Average $20.13 PSF NNN
- Average Household Income Exceeds $137,500 & $122,000 in a 1 & 3 Mile Radii, Respectively
- Benefits from Hard Corner Positioning, Onsite Parking, Storefront Glass Along Front of Property, Masonry Construction & Compelling Demographics
EXECUTIVE SUMMARY
Interurban Investment Opportunity is a 7,650 SF multi-tenant asset opportunity located adjacent to the Telecom Corridor with favorable positioning along Highway 75 in Richardson, Texas. The Property is located 15 minutes from downtown Dallas, 20 minutes from Dallas Fort Worth International Airport and 35 minutes from Fort Worth. Renovated in 2022, Interurban Investment Opportunity underwent comprehensive and highly relevant interior and exterior improvements. Additionally, ownership is currently in process of highly anticipated improvements to Suite 200 for turn key tenant ready move in including bathroom, new drywall, polished floor, exposed vaulted ceiling & HVAC. The Property is currently leased with rents averaging only $20.13 PSF NNN, which are at or below market for comparable caliber space. Interurban Investment Opportunity is priced below replacement cost at $293.83 PSF. The Property benefits from its hard corner positioning, onsite parking, storefront glass along front of property, masonry construction and compelling demographics. Interurban Investment Opportunity is located within a dense submarket of north Dallas with a total population exceeding 391,200 in a 5 mile radius. Neighboring notable national credit retailers include Target, Lowe’s, Ross, LA Fitness, Chick Fil A, McDonalds, Dunkin’ Donuts and Chipotle among numerous others.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
7,700 SF
Building Class
C
Year Built
1971
Price
$2,163,000
Price Per SF
$280.91
Cap Rate
7.15%
NOI
$154,655
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.42
Lot Size
0.42 AC
Zoning
I - Industrial
Parking
10 Spaces (1.3 Spaces per 1,000 SF Leased)
Frontage
Walk Score®
Very Walkable (73)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 421085000519A0000 | Improvements Assessment | $911,660 |
| Land Assessment | $141,700 | Total Assessment | $1,053,360 |
PROPERTY TAXES
Parcel Number
421085000519A0000
Land Assessment
$141,700
Improvements Assessment
$911,660
Total Assessment
$1,053,360
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Interurban Investment Opportunity | 401-403 N Interurban St
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