For Sale
$3,884,000

10901 Garland Rd Dallas, TX 75218

15,536 SF, 8% CAP, Triple-Net Lease

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a 15,536-square-foot medical office building in Dallas, Texas, boasting a strong 8% capitalization rate. The property, situated on a 0.48-acre lot at 10901 Garland Rd, 75218, is a two-story building constructed in 1967 and renovated in 2006. Currently 100% occupied by three tenants, including the anchor tenant, Smiley Dental & Orthodontics, the building benefits from a triple-net (NNN) lease structure with a corporate guarantee. The leases feature annual 2% rent increases, providing inflation protection. The current Net Operating Income (NOI) stands at $310,720. Smiley Dental & Orthodontics occupies 50% of the space under a new 15-year NNN lease, while Clinica San Andres and Smiley Dental Management office are under a three-year NNN lease. The owner-user option exists, as the 7,768 square foot upstairs office space occupied by Smiley Dental Management could be relocated. This stabilized investment offers a secure, long-term return in a rapidly growing metropolitan area, with the added benefit of no state income tax in Texas. The building's strong tenant base, coupled with the long-term lease agreements and built-in rent increases, makes this a compelling investment opportunity. The asking price is $3,884,000.

Highlights

  • Medical office building occupied by Smiley Dental & Orthodontics.
  • 7,768 SF of upstairs office space available for owner-user occupancy.
  • Long-term, triple-net (NNN) leases in place.
  • Annual rent increases of 2%.
  • Building established in 2006.
  • Texas property offers no state income tax.

Property Details for 10901 Garland Rd

Property type
Office properties, Medical offices
Square Feet
15,536 SF
Year Built/Renovated
1967/2006
Buildings
1
Stories
2
Lot Size (sq. ft)
20,909 SF
Units
3

Location Insight

City
Dallas
County
Dallas
State
Texas
Latitude
32.845580603938
Longitude
-96.687788170011

FAQs

What type of property is this?
Office property - 15,536 SF, 8% CAP, Triple-Net Lease
Where is the office property located?
The property is located at 10901 Garland Rd Dallas, TX.
What is the asking price?
The asking price for this property is $3,884,000.
What are key features of this property?
This property features: Medical office building occupied by Smiley Dental & Orthodontics.; 7,768 SF of upstairs office space available for owner-user occupancy.; Long-term, triple-net (NNN) leases in place.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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10901 Garland Rd
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