2015 Northwest HwyGarland, TX 75041

Property Details for 2015 Northwest Hwy

Year built

2007

Lot size

1.00 AC

Property size (Sq ft)

5,350 SF

Property type

Retail properties

Property subtype

Office properties

Description

This exceptional investment opportunity presents a single-tenant, net-leased Capital One Bank located at 2015 Northwest Highway in Garland, Texas. The property boasts 5,350 square feet on a one-acre lot, featuring six drive-thru lanes and prominent pylon signage. Built in 2007, this free-standing building benefits from a 2.5-year remaining lease term (expiring June 1, 2027) with a corporate guarantee from Capital One, a top 10 U.S. bank by assets. The absolute NNN lease commenced November 10, 2006, and includes a ground lease ownership structure. The property enjoys a 6.06% cap rate and a current Net Operating Income (NOI) of $121,000. The asking price is $1,996,700. This prime location is situated on a hard-corner, signalized intersection with high traffic counts, just before the I-635 (LBJ Freeway) on/off ramps. Surrounding national and local tenants include Sam's Club, Walmart, and many more, contributing to a strong retail corridor. Garland consistently ranks among the top 10 best places to live, further enhancing the property's value. The property's exceptional performance is underscored by its historically strong deposits, totaling $65,307,000 in 2023. This is a 1031 exchange eligible property.

Location Insight

City

Garland

County

Dallas

State

Texas

Latitude

32.8646

Longitude

-96.6584

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