Petsuites | 13460 Midway Rd
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Petsuites 13460 Midway Rd
15,633 SF Retail Building Farmers Branch, TX 75244 $7,136,434 ($456/SF) 4.60% Cap Rate
Investment Highlights
- LONG TERM LEASE - The subject property has close to 19 years remaining on the initial term of an Absolute NNN Lease.
- RENTAL INCREASES - 10% Rental increases every 5 years throughout the base term and option periods.
- OUTSTANDING DEMOGRAPHICS - There are over 350,000 residents within a 5-mile radius of the property.
- ZERO LANDLORD RESPONSIBILITIES - Absolute NNN Lease. Ideal for Investors not Local to the Market or looking for a "hands o?" investment.
- EXCELLENT VISIBILITY/TRAFFIC COUNTS - Site is visible from Interstate 35 with 176,049 Vehicles Per Day.
- STRONG CORPORATE GUARANTOR - The lease is corporately guaranteed by National Veterinary Associates (NVA) Inc. (1,100 veterinary clinic operator).
Executive Summary
Prime Net Lease is pleased to present this newly remodeled Petsuites located in Farmers Branch, TX. The 15,633 SF building was originally constructed in 1974, remodeled in August 2022 and sits on 1.05 Acres of land. The property is secured with a brand new twenty (20) Year Absolute NNN Lease, leaving zero landlord responsibilities.
The original corporately guaranteed lease has close to 19 years currently remaining on its initial term. This absolute NNN lease features 10% rental increases every 5 years during the base term and grants the Tenant five successive 5-year options to extend the lease. The lease is backed by a strong corporate guarantee from the parent company, National Veterinary Associates (1000+ Units).
This PetSuites is strategically located along Midway Road (seeing 50,486 vehicles per day). The site is surrounded by office and industrial properties and is located a quarter mile away from Dallas College Brookhaven Campus. The five-mile population from the site is 319,777 and the three-mile average household income is $102,701 per year. This area is and has been experiencing a healthy population growth averaging 4.4% annually. Total consumer spending within a 5-mile radius is estimated at $4.5 Billion.
The Dallas–Fort Worth–Arlington metroplex, is a metropolitan statistical area in the U.S. state of Texas encompassing 11 counties. Its core cities are Dallas and Fort Worth. It is the economic and cultural hub of North Texas. The Dallas–Fort Worth–Arlington metropolitan statistical area's population was 7,637,387 according to the U.S. Census Bureau's 2020 census, making it the most populous metropolitan area in both Texas and the Southern United States, the fourth-largest in the U.S., and the tenth-largest in the Americas. In 2016, the Dallas–Fort Worth metroplex had the highest annual population growth in the United States.
The original corporately guaranteed lease has close to 19 years currently remaining on its initial term. This absolute NNN lease features 10% rental increases every 5 years during the base term and grants the Tenant five successive 5-year options to extend the lease. The lease is backed by a strong corporate guarantee from the parent company, National Veterinary Associates (1000+ Units).
This PetSuites is strategically located along Midway Road (seeing 50,486 vehicles per day). The site is surrounded by office and industrial properties and is located a quarter mile away from Dallas College Brookhaven Campus. The five-mile population from the site is 319,777 and the three-mile average household income is $102,701 per year. This area is and has been experiencing a healthy population growth averaging 4.4% annually. Total consumer spending within a 5-mile radius is estimated at $4.5 Billion.
The Dallas–Fort Worth–Arlington metroplex, is a metropolitan statistical area in the U.S. state of Texas encompassing 11 counties. Its core cities are Dallas and Fort Worth. It is the economic and cultural hub of North Texas. The Dallas–Fort Worth–Arlington metropolitan statistical area's population was 7,637,387 according to the U.S. Census Bureau's 2020 census, making it the most populous metropolitan area in both Texas and the Southern United States, the fourth-largest in the U.S., and the tenth-largest in the Americas. In 2016, the Dallas–Fort Worth metroplex had the highest annual population growth in the United States.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
15,633 SF
Building Class
C
Year Built/Renovated
1974/2022
Price
$7,136,434
Price Per SF
$456
Cap Rate
4.60%
NOI
$328,276
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.34
Lot Size
1.05 AC
Zoning
LI
Parking
26 Spaces (1.66 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 24127500010020000 | Improvements Assessment | $5,701,140 |
| Land Assessment | $548,860 | Total Assessment | $6,250,000 |
PROPERTY TAXES
Parcel Number
24127500010020000
Land Assessment
$548,860
Improvements Assessment
$5,701,140
Total Assessment
$6,250,000
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Petsuites | 13460 Midway Rd
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