Preston Trace Medical
Preston Trace Medical Retail Center | $5,937,000 | 6.25% Cap | Frisco, TX
Marketing description
Preston Trace Medical Retail Center is a 12,900 square foot retail center located directly adjacent to Preston Road situated approximately 30 minutes due north of Downtown Dallas in the affluent DFW submarket of Frisco, Texas. The Property is 100% leased to a complementary mix of medical and specialty recreational tenants including North Dallas Primary Care Doctors, Behavioral Innovations, and Frisco Fencing Academy. The average base lease expiration is October 2030 with 3 of 3 tenants experiencing rent escalations during their primary terms. Rents average $28.77 PSF NNN with comparable medical retail space quoting in excess of $35.00 PSF NNN. Preston Trace Medical Retail Center benefits from excellent visibility, an average suite size of 4,300 SF, shallow bay depth, masonry construction, multiple ingress/egress points, and excellent visibility fronting Preston Trace Boulevard. Notable national retailers in close proximity include Walmart Supercenter, Aldi, Starbucks, Chick fil A, Scooters Coffee, Aldi, CVS Pharmacy, McDonalds, Dunkin, Subway, and Anytime Fitness amongst others.
Investment highlights
100% Leased 3-Tenant Medical Retail Center in the Booming & Affluent Submarket of Frisco, TX
Average Base Lease Term Expiration of October 2030 with 3 of 3 Tenants Experiencing Rent Bumps During Primary Term
Benefits from Shallow Bay Depth & Full Masonry Construction
Average Household Income Exceeds $148,700, $175,500 & $193,600 in a 1, 3 & 5 Mile Radius, Respectively
Five (5) minutes from $12.7 Billion Fields Master Planned Community; Anticipated 5,000 Single Family Residences, 8,500 Multifamily Units & Over 18 Million SF of Commercial GLA Upon Completion
Population Increased by Over 590% Since 2000 in 5 Mile Radius
Preston Road / Main Street Intersection 90,000+ VPD
Nearby Notable National Retailers Include Walmart Supercenter, Aldi, Starbucks, Chick fil A, Scooters Coffee, Aldi, CVS Pharmacy, McDonalds, Dunkin, Subway, & Anytime Fitness Amongst Others
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