Lakeview Medical Plaza

Price: $3,900,000
Sq. Ft.: 14,808
Cap Rate: 7.08%
Built: 2004

Lakeview Medical Plaza is a 14,808-square foot multi-tenant medical office building in Rowlett, Texas.  The center is 100 percent occupied; tenants consist of US Renal Care, Vanguard Vascular & Vein, and Baylor Healthcare.  All leases are triple-net.  The building was constructed in 2004 and sits on a 2.568-acre parcel.

The subject property is located on Lakeview Parkway (Highway 66) near the signalized intersection with Chiesa Road.  Traffic counts are approximately 28,400-vehicles per day in front of the property. A 51,000-square foot medical center, Lake Pointe Medical Arts, is located across the highway.  The land adjacent to the subject property is being developed into a medical office complex called Lakeview Medical Commons.  Neighboring retailers include RaceTrac, Domino’s Pizza, Taco Bueno, Dollar General, UPS, Anytime Fitness, McDonald’s, BBVA, Little Caesar’s Pizza, Walgreens, Walmart Neighborhood Market, CVS, Leslie’s Pool Supplies, Tom Thumb, among others.  The surrounding area has excellent demographics, with a five mile average household income of over $98,000 and a population exceeding 134,600 residents.