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32204211
32204189

1810 North Plano Road, Richardson, TX 75081

KH
TX TX 755222
JLL Austin
Listed by JLL Austin
$1,919,210
36 days on market
Updated 36 days ago

NextCare Urgent Care - Richardson, TX

Details
Property Type Retail
Sub Type Pharmacy/Drug, Medical (+1)
Square Footage 4,858
Cap Rate 6.75%
NOI $129,547
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 30
Lease Expiration 08/31/2031
Remaining Term 5.2
Rent Bumps Yes
Lease Options None (already exercised 4th option)
Year Built 1994
Acreage 0.680
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/01/2001
Ground Lease No

Absolute NNN Lease | Infill Dallas Location | 3% Annual Bumps | 25+ Years Operating History | 6.75%

Marketing description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire fee-simple interest in a freestanding single-tenant building located at 1810 N. Plano Road, Richardson, TX ("Property" or "Asset"). The Property is 100% leased to NextCare Urgent Care (“Tenant” or “NextCare”) and has ±5.3 years of term remaining on an absolute NNN lease structure and 3% annual rent increases.

The Asset comprises 4,858 SF and sits on a 0.68-acre parcel. The Property operates as a NextCare Urgent Care clinic, a partner of Baylor Scott & White, providing walk-in medical services for a wide array of non-life-threatening illnesses and injuries. The facility is equipped with multiple exam rooms and offers on-site X-ray and laboratory services to support immediate diagnosis and treatment for conditions ranging from minor fractures to infections. The clinic has established a reputation for delivering convenient, high-quality care, a standing that is supported by strong patient reviews.

The Tenant is a leading national urgent care provider, operating a vast network of over 170 clinics across multiple states. As one of the largest urgent care providers in the United States, NextCare offers accessible and affordable medical services for a wide range of non-life-threatening illnesses and injuries.

The Property is strategically positioned in Richardson, TX a suburb 15 miles north of downtown Dallas, one of the fastest growing metro areas in the US. This proximity provides excellent visibility via the Hwy-75 corridor, a major artery that sees over 198,664 vehicles daily over the state line, directly linking Richardson to Dallas. The city's strategic location provides businesses with access to a skilled workforce of 1.9 million people within a 30-minute commute. This seamless connection makes Richardson a prime residential area for Dallas’ workforce, allowing the urgent care to tap into the expansive and affluent population of the greater Dallas-Fort Worth metropolitan area, which is home to nearly 8.4 million people. The immediate vicinity boasts a population of 371,945 and an impressive average household income of $118,511 within a 5-mile radius.

This offering provides investors with the opportunity to acquire a single-tenant urgent care facility with secure, passive cash flow from an absolute NNN lease. The investment is backed by a leading national operator in the recession-resistant healthcare industry, which has a proven 25+ year operating history at this site demonstrating a strong commitment to the location. The Asset's strategic location in Richardson, anchored by the powerhouse Dallas-Fort Worth MSA, coupled with attractive 3% annual rent increases, offers stable, passive income with excellent growth potential.

Investment highlights

  • Absolute NNN lease - ZERO landlord responsibilities
  • Attractive 3% annual escalators
  • Over 25+ years of operating history at this location
  • Baylor Scott & White, a JV partner of NextCare, is the largest not-for-profit health system in Texas, serving 3M+ patients annually
  • The local area boasts exceptional potential with an average household income of $137,000+ within a 1-mile radius and nearly 371,000+ residents in a 5-mile radius
  • The Asset is situated directly across from the Richardson IQ®, a 1,200-acre innovation district with over 13.4M SF of real estate and 1,100+ businesses
  • On highly trafficked N Plano Rd with visibility to 27,000+ VPD

Listing Contacts

KH
TX TX 755222
JLL Austin
Listed by JLL Austin

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$129,547.00
$10,795.58/mo

Valuation Metrics

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DSCR
6.75%
Cap Rate
6.75%
ROI

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Additional Information

Name
Kirby Hayes
License
TX 755222
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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