17795 Dallas PkwyDallas, TX 75287
- Other commercial real estate
- 19,922 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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