615 N MacArthur Blvd - Office FOR SALE


Irving, TX 75061
$1,260,000 USD
214-225-8541
615 N MacArthur Blvd, Irving, TX for Sale
$1,260,000 USD
Office - FOR SALE
1/9
null | 7.75% Cap Rate

615 N MacArthur Blvd
Irving, TX 75061


HIGHLIGHTS

  • 0% Leased Retail Asset Priced at $1,260,000 (7.75% Cap Rate) in the Established Submarket of Irving, TX (DFW)
  • Priced Well Below Replacement Cost at $206.14 PSF to the Building
  • Effective Rent of $15.98 PSF
  • Dense Retail Trade Area with Over 3.2 Million Square Feet of Retail in 1.5-Mile Radius
  • At the Intersection of Two Notable DFW Arteries, MacArthur Boulevard & Pioneer Drive (44,800+ VPD)
  • 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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,260,000 USD

PRICE/SF

$420 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

MacArthur and Pioneer Plaza

PROPERTY TYPE

Office

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1952

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.79 AC

LAND SF

34,412 SF

ZONING

Professional Office

APN/PARCEL ID

32201120000000000

ASK ABOUT THIS PROPERTY

Tayler RoseSHOP CompaniesMore Info
214-225-8541

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Tayler RoseSHOP CompaniesMore Info
214-225-8541

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.