6800 Heritage PkwyRockwall, TX 75087

Property Details for 6800 Heritage Pkwy

Year built

1985

Lot size

1.20 AC

Property size (Sq ft)

15,766 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional two-story medical office building, situated on 1.2 acres in Rockwall, Texas, presents a compelling investment opportunity. The 15,766 square foot property, constructed in 1985 and renovated in 2020, boasts a Class B rating and features ten units currently at 80% occupancy. A new roof was installed in December 2023. The building offers a strong net lease structure with a current NOI of $243,593, translating to an attractive 8.86% cap rate and a price per square foot of $174.43. The asking price is $2,750,000. Conveniently located at 6800 Heritage Pkwy, 75087, this property enjoys excellent visibility and accessibility, situated near Baylor Scott & White Hospital and Interstate 30. The ample parking ratio of 4.45 spaces per 1,000 square feet caters to tenants and visitors. With a mix of office and medical tenants, this multi-tenant building offers potential for increased value through leasing the remaining vacant space. The property's wood-framed construction and recent renovations contribute to its overall appeal and functionality. This is a rare opportunity to acquire a well-maintained, high-yield medical office building in a thriving Texas market. The property is offered as a net lease investment.

Location Insight

City

Rockwall

County

Rockwall

State

Texas

Latitude

32.9202

Longitude

-96.5069

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