2698 Galloway AveMesquite, TX 75150

Property Details for 2698 Galloway Ave

Year built

2003

Construction

TILT-UP CONCRETE

Lot size

1.36 AC

Property size (Sq ft)

17,178 SF

Zone code

Z31

Property type

Medical offices

Property subtype

Medical centers

APN

38092550013R20000

APU

38092550013R20000

Description

This single-story, 17,178 square foot medical office building, situated on 1.35 acres in Mesquite, Texas, presents a compelling investment opportunity. Built in 2003 and extensively renovated in 2023, the Class B property boasts a desirable location at 2698 N Galloway Ave, zip code 75150, within Dallas County. The building features two suites, currently offering 3,159 square feet of vacant space, divisible into units ranging from 711 to 2,448 contiguous square feet. Ideal for various medical practices, the property benefits from an existing tenant base and presents immediate occupancy potential. The building is currently operating at a 7% cap rate. No elevators are present. This property offers a blend of established tenancy and readily available space, making it an attractive prospect for investors and medical professionals alike. The property's recent renovation ensures modern amenities and functionality. The address is easily accessible and well-suited for patient and staff convenience. This is a rare opportunity to acquire a well-maintained medical office building in a thriving Texas market.

• CAP approach

  CAP return

  Valuation

  6%

  $3,182,185

  6.5%

  $2,937,402

  7%

  $2,727,588

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,113,674

  Geo Method

  $4,526,858

• Alternative Use

  Use

  Valuation

  Residential

  $3,642,378

  Hospitality

  $3,336,399

  Educational

  $2,775,845

  Medical

  $2,871,310

  Retail

  $4,317,980

Location Insight

City

Mesquite

County

Dallas

State

Texas

Latitude

32.8012

Longitude

-96.61

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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