Macarthur & Pioneer Plaza Office FOR SALE


Irving, TX
$1,129,000 USD
214-960-2835
, Irving, TX for Sale
$1,129,000 USD
Office - FOR SALE
1/5
null | 7.35% Cap Rate

Macarthur & Pioneer Plaza
Irving, TX


HIGHLIGHTS

  • 86.91% Leased Multi Tenant Asset in the Established Submarket of Irving, TX (DFW)
  • Priced Well Below Replacement Cost at $184.69 PSF
  • At the Intersection of MacArthur Boulevard & Pioneer Drive (44,800+ VPD), Two Notable DFW Arteries
  • Strong Fundamentals with Highly Visible Two-Sided Monument Sign, Average Suite Size of 1,528 SF, Large +/-0.79-Acre Parcel Size & Parallel Positioning
  • Close Proximity to DFW International Airport and Dallas Love Field Airports
  • City of Irving is Home to 4 Fortune 1,000 Companies & 10 Fortune 500 Companies

OVERVIEW

Macarthur & Pioneer Plaza is an 86.91% leased 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 established intersection of MacArthur Boulevard & Pioneer Drive, the Property is approximately 15 minutes west from Downtown Dallas and 30 minutes east of Downtown Fort Worth. MacArthur & Pioneer Plaza is 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. Significant upside potential exists in leasing the existing 800 SF vacancy to a retail, service or medical user. Additionally, MacArthur & 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 $13.59 PSF. Pro forma estimates conemplate achieving an 9.11% cap rate at list price by leasing the existing 800 SF vacancy at $20.00 PSF NNN.

ASK ABOUT THIS PROPERTY

Tim AxilrodSHOP CompaniesMore Info
214-960-2835

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Tim AxilrodSHOP CompaniesMore Info
214-960-2835

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