3229 Forest LnGarland, TX 75042

Property Details for 3229 Forest Ln

Year built

1972

Construction

TILT-UP CONCRETE

Lot size

0.82 AC

Property size (Sq ft)

9,600 SF

Zone code

Z53

Property type

Strip malls

Property subtype

Neighborhood centers

APN

26629500010010700

APU

26629500010010700

Description

This exceptional Garland, Texas retail property at 3229 Forest Ln offers a compelling investment opportunity. The 9,660 square foot building sits on a 0.817-acre lot and is currently 100% occupied by a mix of convenience store, quick-service restaurant, and restaurant tenants under NNN leases, generating a strong net operating income (NOI) of $182,760 and a 7.00% cap rate. The asking price is $2,578,000, translating to $266.87 per square foot. Built in 1972, the property benefits from a highly visible location with a daily traffic count of 31,315 vehicles, directly across from the Forest/Jupiter DART Station, ensuring excellent accessibility and high foot traffic. Its proximity to major highways like I-635 and US 75 further enhances its strategic location. The surrounding area boasts a strong average household income within a 3-mile radius, supporting consistent tenant demand. This property presents a rare opportunity to acquire a stable, high-performing retail investment in a thriving Garland, TX (zip code 75042) location, just 2.6 miles from the revitalized downtown area. The property's size and location offer potential for future growth and development, making it an attractive investment for long-term appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $2,614,216

  6.5%

  $2,413,122

  7%

  $2,240,756

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,976,715

  Geo Method

  $2,910,782

• Alternative Use

  Use

  Valuation

  Residential

  $2,035,559

  Hospitality

  $1,864,561

  Educational

  $1,551,293

  Medical

  $1,604,644

  Retail

  $2,413,122

Location Insight

City

Garland

County

Dallas

State

Texas

Latitude

32.9096

Longitude

-96.6796

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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