620 Jim Miller RdDallas, TX 75217

Property Details for 620 Jim Miller Rd

Year built

2009

Construction

TILT-UP CONCRETE

Lot size

1.11 AC

Property size (Sq ft)

11,700 SF

Zone code

Z239

Property type

Retail properties

Property subtype

Retail space

APN

006280000A0020000

APU

006280000A0020000

Description

This exceptional investment opportunity presents a 9,180-square-foot Family Dollar store located at 620 N Jim Miller Rd, Dallas, TX 75217. The property, built in 2007, sits on a 1.11-acre lot and boasts a 100% occupancy rate with a strong, credit-rated corporate tenant under a Net Lease (NN) agreement. The current lease, commencing June 1, 2007, and expiring June 30, 2027, has a remaining term of 2.6 years, with four 5-year lease options remaining, each including a 10% rent increase. The asking price is $1,201,665, translating to $130.90 per square foot and a compelling 7.25% cap rate, based on a Net Operating Income (NOI) of $87,120. The property benefits from its infill location in Dallas, within a 5-mile radius of nearly 200,000 residents. Its strategic positioning adjacent to a large middle school, the Dallas Police Department, and US Highway 175 (with over 50,000 vehicles per day) further enhances its appeal. The tenant has consistently exercised two previous lease options, paying the full 10% rent increase each time without requesting landlord concessions. This property offers a rare lease structure, with the tenant directly responsible for property taxes. This is a prime opportunity for investors seeking a stable, high-return retail investment with a strong tenant and significant upside potential.

Location Insight

City

Dallas

County

Dallas

State

Texas

Latitude

32.7223

Longitude

-96.6995

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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