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27866708
27866709

2 Locations

DD
TX 656858
Marcus & Millichap - Austin
Listed by Marcus & Millichap - Austin
$4,989,387
222 days on market
Updated 40 days ago

Two Tenant Medial Office and Bank

Details
Property Type Retail, Office (+1)
Sub Type Bank, Medical Office
Square Footage 18,180
Net Rentable (SqFt) 18,180
Cap Rate 8%
NOI $399,151
Occupancy 100%
Tenancy Multi
Brand/Tenant M&T Bank, SoNE Health Medical Group (+1)
Lease Type NNN
Lease Term 5
Rent Bumps Yes
Lease Options Multiple
Price per SqFt $274
Buildings 2
Acreage 2.140
Parking Spaces spaces
Tenant Credit Corporate Guarantee
Ownership Fee Simple

Medical Office | 4+ Years Remaining | 8.00% CAP | 18,180 SqFt

Investment highlights

Corporately Guaranteed Tenants - The property is 100% leased to long-term tenants M&T Bank and Radiology Associates, both of which recently signed five year lease extensions, and SoNE Health Medical Group , which recently executed a five year lease to expand its area presence.

High Visibility - The property is located between Cranbrook Boulevard and Hazard Avenue with ingress and egress access onto each street. Hazard Avenue sees over 28,000 vehicles per day.

Strategic Location - The subject property is located just south of Enfield Mall which is undergoing a $250M renovation as well as core submarket anchor tenants Costco and Home Depot.

Strong Population - With 77,000+ residents and 29,000+ households within five miles, there is an ample customer base for the tenant. The five mile average household income exceeds $120,000.

Retail Corridor - The Enfield submarket is one of the strongest retail markets in the state with exceptional vacancy rates below 5 percent and rental rates increasing year over year.

Listing Contacts

DD
TX 656858
Marcus & Millichap - Austin
Listed by Marcus & Millichap - Austin

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$399,151.00
$33,262.58/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
John Krueger
License
CT REB.0752012
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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