Lewisville Village | 1425 Justin Rd
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Lewisville Village 1425 Justin Rd
24,290 SF 100% Leased Retail Building Lewisville, TX 75077 $5,940,000 ($245/SF) 7.35% Cap Rate
Investment Highlights
- 100% Leased Retail Asset Located in the Affluent Northern DFW Submarket of Lewisville, TX
- Priced Well Below Replacement Cost at $244.55 PSF to the Building
- Surrounding National Retailers Include Walmart, Tom Thumb, Chick-Fil-A, McDonald's, Starbucks & Wells-Fargo, Among Others
- Below Market Rents of only $17.98 PSF NNN
- Fronting Justin Road, a Major East-West Throughfare in Denton County with Traffic Volumes Exceeding (31,400+ VPD)
- Average Household Income Exceeds $139,900, $137,600 & $147,100 in 1, 3 & 5 Mile Radii, Respectively
Executive Summary
Lewisville Village is a 24,290 square foot retail asset situated in the affluent northern DFW submarket of Lewisville, Texas. Located on 2.86 acres, the Property is 100% leased to a complimentary tenant lineup including Chase Bank (ATM), State Farm, Rusty Anchor Bar & Grill, Village Motors, Pawsome Pets among numerous others. Lewisville Village is priced well below replacement cost at $244.55 per square foot to the building. Rents average only $17.98 per square foot NNN providing long term upside in rent growth. Pawsome Pets recently signed a new 5-year lease at $18.72 per square foot NNN with 4% annual escalations. The Property exhibits strong fundamentals with an average suite size of just 2,208 square feet providing strong residual value, highly visible pylon sign fronting Justin Road, abundance of parking, drive-thru ATM (Chase Bank) and 4 ingress/egress points of access with a left turn curb cut going west on Justin Road.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
24,290 SF
Building Class
B
Year Built/Renovated
1986/2007
Price
$5,940,000
Price Per SF
$245
Cap Rate
7.35%
NOI
$436,590
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Land Acres
2.70 AC
Zoning
LI
Frontage
500 FT on FM 407
PROPERTY TAXES
| Parcel Number | R121056 | Improvements Assessment | $2,485,474 |
| Land Assessment | $1,121,526 | Total Assessment | $3,607,000 |
PROPERTY TAXES
Parcel Number
R121056
Land Assessment
$1,121,526
Improvements Assessment
$2,485,474
Total Assessment
$3,607,000
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Lewisville Village | 1425 Justin Rd
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