13398 Preston RdDallas, TX 75240

  • Retail properties
  • 3,843 SF
For Sale
$3,053,271 View listing

Property Details for 13398 Preston Rd

Year built
2011
Construction
TILT-UP CONCRETE
Lot size
0.42 AC
Property size (Sq ft)
3,843 SF
Zone code
Z248
Property type
Retail properties
Property subtype
Banks
APN
007438000A0020000
APU
007438000A0020000

Description

This exceptional investment opportunity presents a 3,843 square foot Chase Bank branch located at 13398 Preston Rd, Dallas, TX 75240. Built in 2011, this property sits on approximately 10.42 acres of land and boasts three drive-thru lanes, ensuring high traffic flow and excellent visibility along Preston Road, which sees approximately 154,100 vehicles per day. The current lease with Chase Bank expires January 1, 2032, offering a remaining term of 7.1 years. The lease includes four, five-year renewal options, potentially extending the lease for an additional 20 years. Rent increases by 10% every five years, beginning February 1, 2027. The property generates a Net Operating Income (NOI) of $163,350, resulting in a 5.35% cap rate. The asking price is $3,053,271. This investment is further enhanced by Chase Bank's strong financial performance, reporting deposits of $248,225,000 in fiscal year 2024 and $51,862,000 in fiscal year 2023, and its A+ credit rating from the S&P 500 Index. The property's location benefits from the proximity to the Valley View Mall redevelopment project, a planned $80 million mixed-use development including 275 luxury condos. This presents a compelling opportunity for long-term, stable income growth and appreciation. The ground lease is in place.

13398 Preston Rd, Dallas, Texas

Location Insight

City
Dallas
County
Dallas
State
Texas
Latitude
32.9297
Longitude
-96.8032
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
2023
$46,435
$407,700
$1,507,890
$1,915,590
-
$407,700
$1,507,890
$1,915,590

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