318 Central ExpyRichardson, TX 75080

Property Details for 318 Central Expy

Year built

1978

Construction

TILT-UP CONCRETE

Lot size

1.01 AC

Property size (Sq ft)

17,316 SF

Zone code

Z31

Property type

Strip malls

Property subtype

Neighborhood centers

APN

420946500K03A0000

APU

420946500K03A0000

Description

This exceptional 4,395 square foot retail space is located within a 17,352 square foot strip center situated on Central Expressway in Richardson, Texas, at the highly visible southern endcap. Built in 1978 and renovated in 2020, the property boasts a prime location with easy access to I-75 and ample parking. The space features abundant natural light from a glass storefront, several updated offices, and a convenient warehouse/backroom area with a roll-up door. The building offers a total of 6 suites, with this being the only currently vacant unit. The property sits on 1.01 acres of land and includes 65 total parking spaces. The zoning is designated as Retail Shopping, and the space benefits from prominent lighted LED pylon signage for excellent visibility. This single-story building is part of the Dallas submarket within the DFW area. The net operating expenses (NNN) are currently $5.72 per square foot. This is a unique opportunity to secure a well-maintained, highly visible retail space in a thriving location.

• CAP approach

  CAP return

  Valuation

  6%

  $4,715,392

  6.5%

  $4,352,670

  7%

  $4,041,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,369,250

  Geo Method

  $5,250,322

• Alternative Use

  Use

  Valuation

  Residential

  $3,671,640

  Hospitality

  $3,363,202

  Educational

  $2,798,144

  Medical

  $2,894,377

  Retail

  $4,352,670

Location Insight

City

Richardson

County

Dallas

State

Texas

Latitude

32.9474

Longitude

-96.7379

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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