For Sale
$3,705,000

2330 I-30 Mesquite, TX 75150

High-yield, NNN-leased office building.

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional investment opportunity presents a fee-simple interest in a 14,967-square-foot, single-story office building situated on a 1.24-acre lot in Mesquite, Texas. The property, built in 1987, boasts a prime location at the high-traffic interchange of Interstates 30 and 635 in Dallas County (zip code 75150). Currently 100% occupied by LEAF Commercial Capital, a subsidiary of M&T Bank (NYSE: MTB), this property offers a secure, passive income stream under an absolute NNN lease. The lease, commencing June 1, 2015, has a remaining term of 5.5 years, with two 5-year renewal options. The lease includes annual rent bumps of 1%, providing inflation protection and increasing yield over time. The current asking price is $3,705,000, representing a cap rate of 8.00% and a price per square foot of $247.54. The Net Operating Income (NOI) is $296,419. The tenant has consistently demonstrated commitment to the property through recent improvements to signage, awnings, and landscaping. This property offers a compelling investment opportunity in a high-growth Texas MSA, benefiting from the absence of a state personal income tax. The property's strategic location at a major interstate interchange ensures high visibility and accessibility. This is a rare chance to acquire a stable, long-term investment with a strong tenant and significant upside potential.

Highlights

  • Absolute NNN Lease with no landlord responsibilities, providing a passive income stream.
  • 6-year remaining lease term with two 5-year renewal options.
  • Investment-grade corporate tenant, LEAF Commercial Capital (subsidiary of M&T Bank, NYSE: MTB), rated BBB+/Stable by S&P and A3/Stable by Moody's.
  • High-traffic location at the I-30 and I-635 interchange (106,000 and 154,000 VPD, respectively).
  • Located in the high-growth Dallas-Fort Worth MSA.
  • Lease includes 1% annual rent increases.

Property Details for 2330 I-30

Property type
Office properties
Square Feet
14,967 SF
Year Built
1987
Buildings
1
Stories
1
Lot Size (sq. ft)
54,014 SF
Units
1

Location Insight

City
Mesquite
County
Dallas
State
Texas
Latitude
32.8201146
Longitude
-96.6326624

FAQs

What type of property is this?
Office property - High-yield, NNN-leased office building.
Where is the office property located?
The property is located at 2330 I-30 Mesquite, TX.
What is the asking price?
The asking price for this property is $3,705,000.
What are key features of this property?
This property features: Absolute NNN Lease with no landlord responsibilities, providing a passive income stream.; 6-year remaining lease term with two 5-year renewal options.; Investment-grade corporate tenant, LEAF Commercial Capital (subsidiary of M&T Bank, NYSE: MTB), rated BBB+/Stable by S&P and A3/Stable by Moody's.
How can I contact the broker?
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2330 I-30
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