17795 Dallas PkwyDallas, TX 75287

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

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.

• 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

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