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MacArthur and Pioneer Plaza 615 N MacArthur Blvd 6,113 SF 100% Leased Office Building Irving, TX 75061 $1,260,000 ($206.12/SF) 7.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 0% Leased Retail Asset Priced at $1,260,000 (7.75% Cap Rate) in the Established Submarket of Irving, TX (DFW)
- Effective Rent of $15.98 PSF
- At the Intersection of Two Notable DFW Arteries, MacArthur Boulevard & Pioneer Drive (44,800+ VPD)
- Priced Well Below Replacement Cost at $206.14 PSF to the Building
- Dense Retail Trade Area with Over 3.2 Million Square Feet of Retail in 1.5-Mile Radius
- Strong Fundamentals with Highly Visible Two-Sided Monument Sign, Average Suite Size of 1,528 SF, Large Parcel Size 0.79-Acre & Parallel Positioning to
EXECUTIVE SUMMARY
Macarthur and Pioneer Plaza is a 6,113 square foot retail asset located in the established central DFW submarket of Irving, Texas. Positioned just minutes south of Texas State Highway 183 off the intersection of Macarthur Boulevard and Pioneer Drive, the Property is approximately 15 minutes west from Downtown Dallas and 30 minutes east of Downtown Fort Worth. Macarthur and Pioneer Plaza is 100% leased to a complementary mix of relevant tenants with an established local presence including Everest Home Health Care, Clinica Latina and Community Bible Fellowship Church. The Property benefits from favorable access and visibility with parallel positioning to Macarthur Boulevard. Additionally, Macarthur and Pioneer Plaza benefits from a highly visible two-sided monument sign, an average suite size of only 1,528 square feet providing strong residual value, large parcel size of 0.79 acres, two separate buildings, additional storage unit that can be leased to tenants. In-place rents are below market with an effective rent of $15.98 per square foot, providing upside in raising rents to market levels and converting leases to NNN. Listed at a 7.75% cap rate, the Property is priced well below replacement cost at $206.14 per square foot to the building.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
6,113 SF
Building Class
B
Year Built/Renovated
1952/2011
Price
$1,260,000
Price Per SF
$206.12
Cap Rate
7.75%
NOI
$97,658
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,113 SF
Building FAR
0.18
Lot Size
0.79 AC
Zoning
Professional Office
Parking
16 Spaces (2.62 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 32201120000000000 | Improvements Assessment | $565,480 |
| Land Assessment | $207,280 | Total Assessment | $772,760 |
PROPERTY TAXES
Parcel Number
32201120000000000
Land Assessment
$207,280
Improvements Assessment
$565,480
Total Assessment
$772,760
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MacArthur and Pioneer Plaza | 615 N MacArthur Blvd
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