235 N Central, Richardson – NNN Lease with Below Market Rent
Value-Add Single-Tenant NNN Investment on US-75 with Below Market Rent
Marketing description
Mohr Partners is pleased to offer a 14,056-square-foot freestanding single-tenant asset strategically positioned along US Highway 75 in Richardson, Texas. This high-visibility site benefits from nearly 240,000 vehicles per day on Central Expressway and immediate access to Belt Line Road, a major arterial within the DFW metroplex.
Currently occupied by Hidden Gym, a regional fitness operator with three locations, the property is on a NNN lease with minimal landlord responsibilities. With just under four years remaining on the term and existing rents 23% below market, investors have a unique opportunity to unlock value via renewal at market rates or re-tenanting the property.
The offering sits on nearly one acre (0.98 acres) with strong area demographics—395,000+ residents within five miles and average household incomes near $105,000. Built in 1996 and renovated in 2020/2021, the building is modernized, functional, and adaptable for a variety of future uses.
This is a compelling investment for buyers seeking income stability today with strategic upside potential in the near term.
Investment highlights
Strategic Location: Frontage on US-75 near Belt Line Road with exposure to over 270,000 vehicles per day
Below Market Rents: 23%+ below market lease rate with strong potential for re-tenanting or renewal at higher rents
NNN Lease Structure: Minimal landlord responsibilities with annual rent increases of 3%
Demographic Strength: 395,000+ residents within a 5-mile radius and avg. HH income near $105K
Tenant Profile: Hidden Gym is a regional operator with 10+ years in business and both corporate and personal lease guarantees
Adaptability: 14,056 SF building on 0.98 acres suitable for fitness, medical, showroom, or retail uses
Stabilized NOI: $216,300 with escalations
Value-Add Opportunity: Lease expires in December 2028 — potential to re-lease at $20+ PSF
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