13398 Preston RdDallas, TX 75240

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

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.

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

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