Marcus & Millichap is pleased to offer the opportunity to acquire a stabilized 5,548-square foot multi-tenant retail center in Dallas, Texas. The center is 100 percent occupied, and 97 percent of the gross leasable area has triple-net leases. Tenants consist of Baja Insurance, GI Insurance and Tax Preparation, V&C Hair Salon, World Finance, Empowered from Team Beauty, and a Bank of America drive-thru ATM. The building was constructed in 2005 and sits on a .71-acre lot.
The subject property faces Northwest Highway at the intersection with Bachman Drive, with multiple ingress and egress points. Traffic counts are approximately 40,350 vehicles per day. The property is directly northwest of Dallas Love Field Airport, serving seven million passengers a year and providing a vital link in the City of Dallas’ economy. National and regional retailers in the area include Walmart, Walgreens, Sam’s Club, Family Dollar, Golden Chick, RaceTrac, Chipotle, Pollo Regio, Panda Express, Pollo Campero, Starbucks, GameStop, Whataburger, AutoZone, Target, Chick-fil-A, Jimmy John’s, Sprint, Embassy Suites, and many more. The surrounding area is densely populated with more than 247,000 residents within five miles of the property, and the five-mile average household income is $108,860.
The Dallas area is a fast-growing economy in a local market of 7.1 million residents. With the cost of living at 96.1 percent of the national average and no personal income tax, Dallas offers a wonderful quality of life. In 2016, DISD had the first and fourth highest-rated public high schools in the nation, according to U.S. News and World Report. A growing transit system includes 62 rail stations, plus two more planned. Area colleges and universities enroll 342,000 students, and Dallas has the largest arts district in the United States. Thousands of restaurants, 28 libraries, 80.9 million square feet of shopping, 23,000 park acres, 143 miles of trails, plus franchises for all the major professional sports leagues provide endless entertainment. The Dallas area is home to 21 Fortune 500 companies. The city is home to 300 corporate headquarters that each employ more than 1,000 people globally. Of Forbes’ largest privately held companies, seven are located in the Dallas area.
SALE HIGHLIGHTS
- 5,548-Square Foot Multi-Tenant Retail Strip
- 100 Percent Occupied | 76 Percent of the Gross Leasable Area has Newly Executed Leases
- 97 Percent of the Gross Leasable Area has Triple-Net Leases
- Includes a Two-Lane Bank of America Drive-Thru ATM
- Infill Location in Northwest Dallas
- Located at the Intersection of Northwest Highway and Bachman Drive with Multiple Ingress and Egress Points
- Traffic Counts are Approximately 40,350 Vehicles per Day
- Property is Directly Northwest of Dallas Love Field Airport | Serves More than 7 Million Passengers Annually | Underwent a $519 Million Renovation in Recent Years , Including a Centralized Terminal with 20 Gates, a New Lobby and an Expanded Baggage Claim Area
- Near Major Retail Traffic Drivers Such as Walmart Supercenter, Sam’s Club, and Target
- Strong Demographics | Five-Mile Population Exceeds 247,000 Residents | Five-Mile Average Household Income is $108,860
