17795 Dallas PkwyDallas, TX 75287

  • Other commercial real estate
  • 19,922 SF
For Sale
$11,513,000 View listing

Property Details for 17795 Dallas Pkwy

Year built
2022
Lot size
1.97 AC
Property size (Sq ft)
19,922 SF
Zone code
MU-1
Property type
Other commercial real estate
APN
R-3910-00B-055E-1
APU
R391000B055E1

Description

This exceptional investment opportunity presents the fee-simple interest in a brand-new, 19,867-square-foot Sprouts Farmers Market located at 17795 Dallas Parkway in Dallas, Texas. Built in 2023, this state-of-the-art grocery store enjoys a prime location in Far North Dallas, a thriving community with high average household incomes exceeding $134,000 within a one-mile radius. The property boasts a 100% occupancy rate with a corporate-guaranteed, net lease to Sprouts, a leading and rapidly expanding specialty grocery chain. The current lease, commencing February 24, 2023, has a remaining term of approximately 13.3 years, with four, five-year renewal options. Rent escalations are built into the lease, including a $1 per square foot increase in year 11 and a $0.50 per square foot increase in subsequent options. The property sits on a 1.97-acre lot and benefits from high visibility along Dallas Parkway, a frontage road to the Dallas North Tollway, with over 219,000 vehicles passing daily. The surrounding area shows strong population growth, with over 392,000 residents within a five-mile radius. This investment offers a compelling 5.85% cap rate and a strong NOI of $673,491, making it an attractive addition to any portfolio. The asking price is $11,513,000, or $579.50 per square foot. The property's strategic location, coupled with the strength of the tenant and lease terms, makes this a truly exceptional investment opportunity.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $4,526,322
    Hospitality
    $4,146,086
    Educational
    $3,449,495
    Medical
    $3,568,128
    Retail
    $5,365,881
17795 Dallas Pkwy, Dallas, Texas

Location Insight

City
Dallas
County
Collin
State
Texas
Latitude
32.9918
Longitude
-96.8305
CBSA code
19100
CBSA name
DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$60,117
$2,741,824
$3,131,142
$5,872,966
-
$2,741,824
$3,131,142
$5,872,966

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