Frankford Point Plaza | 1837 W Frankford Rd
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Frankford Point Plaza 1837 W Frankford Rd
31,134 SF 100% Leased Retail Building Carrollton, TX 75007 $7,631,000 ($245/SF) 7% Cap Rate
Investment Highlights
- 100% Leased Retail Center Located Just off Interstate 35E within Affluent Submarket of Carrollton, TX (DFW)
- Priced Well Below Replacement Cost at $245.10 PSF
- Unique Access to Southbound Interstate 35E Traffic by way of Exit Loop Located Directly Across from Property
- Net Effective Rent of $17.16 PSF
- Average Household Income Exceeds $218,900 & 139,500 in a One- & Three-Mile Radius, Respectively
- Seven (7) of Nine (9) Tenants are Restaurant, Catering or Commissary Kitchens
Executive Summary
Frankford Point Plaza is a 100% leased, 31,134 SF retail center located in the in the highly affluent northern DFW submarket of Carrollton, TX. Situated on an oversized 3.89-acre parcel, the Property is positioned along Frankford Road just off Interstate 35E approximately ten (10) minutes from DFW airport, twenty (20) minutes from Downtown Dallas and thirty (30) minutes from downtown Fort Worth. Frankford Point Plaza is leased to a compelling mix of restaurant, commissary and catering services with net effective rent of $17.16 PSF which is below market rent for similar assets. The Property benefits form excellent positioning to Frankford Road, shallow bay depth, a two sided monument sign fronting Frankford Road, a highly visible two sided pylon sign fronting Interstate 35E, multiple ingress/egress points and an exceptional parking field. The property also benefits from unique accessibility to traffic traveling southbound on Interstate 35E by way of an exit loop intersecting with Frankford Road directly across from the property. Frankford Point Plaza is offered at $245.10 PSF which is well below replacement costs. The average household income exceeds $218,900 and $139,500 in a one and three mile radius, respectively. Nearby notable national retailers include Costco, Target, Walmart, Aldi, Lowes, Home Depot, Kroger, Starbucks, Best Buy, Chick Fil A, Ulta & Chipotle.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
31,134 SF
Building Class
B
Year Built
2002
Price
$7,631,000
Price Per SF
$245
Cap Rate
7%
NOI
$534,201
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
3.89 AC
Zoning
Commercial
Parking
150 Spaces (4.82 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Monument Signage
PROPERTY TAXES
Parcel Number | R243017 | Improvements Assessment | $4,144,761 |
Land Assessment | $1,355,239 | Total Assessment | $5,500,000 |
PROPERTY TAXES
Parcel Number
R243017
Land Assessment
$1,355,239
Improvements Assessment
$4,144,761
Total Assessment
$5,500,000
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Frankford Point Plaza | 1837 W Frankford Rd
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