2010 N Hampton Rd | DeSoto, TX 75115
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2010 N Hampton Rd
DeSoto, TX 75115
Plains Capital Bank Retail Center · Retail Property For Sale
Investment Highlights
- 100% Leased Retail Center with Significant Upside Potential Located just South of Downtown Dallas in the Growing Submarket of DeSoto, TX
- Priced Well Below Replacement Costs at $195.59 PSF with Effective Rents Below Market at $13.69 PSF
- Eight (8) Minutes from $200 million The Shops at RedBird Mixed-Use Redevelopment
- Landlord May Relocate Plains Capital Bank ATM for +/- 0.60 Acre Pad Site Development Opportunity
- Keller Williams originally opened in 2,760 SF, February 2013 then Expanded 1,340 SF for a Total of 4,100 SF in March 2020.
- All Five (5) Tenants Experience Built in Annual Rent Escalations
Executive Summary
Plains Capital Bank Retail Center is a 23,340 SF retail center on North Hampton Road located in the growing south Dallas submarket of DeSoto, Texas. Located on 5.33 acres of land, the owner of the Property has the opportunity to relocate the Plains Capital Bank ATM to carve out a free +/-0.60 acre pad site with potential to construct a stand alone drive thru building totaling 1,000 SF. Additionally, Plains Capital Bank Retail Center is approximately 14 minutes from downtown Dallas and 30 minutes from downtown Fort Worth. The Property is 100% leased to a compelling tenant line up consisting of Plains Capital Bank, Luxuria, Keller Williams, Hunt Law Firm & Engineers of Tomorrow. As a testament to the strength of the submarket and location, Engineers of Tomorrow & Keller Williams expanded their original leased area by 3,000 SF and 1,340 SF, respectively. Effective rents average just $13.69 PSF, which is below market for similar assets. Significant upside potential exists in converting the existing Keller Williams gross lease to NNN. The Property is priced well below replacement costs at only $195.59 PSF. Plains Capital Bank Retail Center benefits from exceptional architecture, a monument sign & eight (8) drive thru lanes for Plains Capital Bank, two (2) outdoor courtyards, and parallel positioning to North Hampton Road. Notable retailers in the immediate area include The Home Depot, Lowe’s, Costco, Super Target, Ross, PetSmart, Dollar General, Tom Thumb, Aldi, Big Lots amongst others.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
23,340 SF
Building Class
B
Year Built
2007
Price
$4,565,000
Price Per SF
$196
Cap Rate
7%
NOI
$319,613
Percent Leased
89%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
5.33 AC
Zoning
General Retail - Commercial Improvements - Industrial Park
Parking
122 Spaces (5.23 Spaces per 1,000 SF Leased)
Frontage
534 FT on N. Hampton Road
Amenities
- Atrium
- Banking
PROPERTY TAXES
Parcel Number | 200309000103A0000 | Improvements Assessment | $1,803,040 |
Land Assessment | $696,960 | Total Assessment | $2,500,000 |
PROPERTY TAXES
Parcel Number
200309000103A0000
Land Assessment
$696,960
Improvements Assessment
$1,803,040
Total Assessment
$2,500,000
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