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Preston Trace Medical Retail Center 8795 Preston Trace Blvd 12,908 SF 100% Leased Office Building Frisco, TX 75033 $5,937,000 ($459.95/SF) 6.25% Cap Rate
Investment Highlights
- 100% Leased 3-Tenant Medical Retail Center in the Booming & Affluent Submarket of Frisco, TX
- Benefits from Shallow Bay Depth & Full Masonry Construction
- Population Increased by Over 590% Since 2000 in 5 Mile Radius
- Average Base Lease Term Expiration of October 2030 with 3 of 3 Tenants Experiencing Rent Bumps During Primary Term
- Average Household Income Exceeds $148,700, $175,500 & $193,600 in a 1, 3 & 5 Mile Radius, Respectively
- Preston Road / Main Street Intersection 90,000+ VPD
Executive Summary
Preston Trace Medical Retail Center is a 12,900 square foot retail center located directly adjacent to Preston Road situated approximately 30 minutes due north of Downtown Dallas in the affluent DFW submarket of Frisco, Texas. The Property is 100% leased to a complementary mix of medical and specialty recreational tenants including North Dallas Primary Care Doctors, Behavioral Innovations, and Frisco Fencing Academy. The average base lease expiration is October 2030 with 3 of 3 tenants experiencing rent escalations during their primary terms. Rents average $28.77 PSF NNN with comparable medical retail space quoting in excess of $35.00 PSF NNN. Preston Trace Medical Retail Center benefits from excellent visibility, an average suite size of 4,300 SF, shallow bay depth, masonry construction, multiple ingress/ egress points, and excellent visibility fronting Preston Trace Boulevard. Notable national retailers in close proximity include Walmart Supercenter, Aldi, Starbucks, Chick fil A, Scooters Coffee, Aldi, CVS Pharmacy, McDonalds, Dunkin, Subway, and Anytime Fitness amongst others.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
12,908 SF
Building Class
B
Year Built
2007
Price
$5,937,000
Price Per SF
$459.95
Cap Rate
6.25%
NOI
$371,099
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
12,908 SF
Building FAR
0.24
Lot Size
1.24 AC
Zoning
Commercial - C1
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Property Taxes
| Parcel Number | R-8507-00A-0080-1 | Improvements Assessment | $2,874,556 |
| Land Assessment | $648,173 | Total Assessment | $3,522,729 |
Property Taxes
Parcel Number
R-8507-00A-0080-1
Land Assessment
$648,173
Improvements Assessment
$2,874,556
Total Assessment
$3,522,729
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Preston Trace Medical Retail Center | 8795 Preston Trace Blvd
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