Listed by SVN | Trinity Advisors
$2,300,000
1700 New York Avenue
Details
APN 00073687, 03856968
Property Type Special Purpose
Sub Type School, Covered land play
Square Footage 29,569
Units 145
NOI $96,000
Tenancy Single
Lease Type NNN
Price per SqFt $78
Year Built 1970
Year Renovated 2025
Buildings 2
Stories 2
Acreage 2.650
Zoning RMF-22
Parking Spaces 140 spaces
Parking per 1,000 SqFt 4.73
Investment Type Redevelopment
Tenant Credit No Credit Rating
Lease Commencement 03/01/2026
Ground Lease No
Covered Land Play | Special Purpose | 29,569 SqFt
Marketing description
1700 New York Avenue offers a covered land play opportunity to acquire a recently
renovated church campus totaling approximately 29,569 square feet across two
buildings on 2.65 acres in Arlington, with $96,000 in gross annual income. Originally
built in 1970, the property has undergone extensive capital improvements between
2023 and 2025. The current month-to-month lease offers near-term flexibility, allowing
for potential owner-occupancy as a religious facility or repositioning for multifamily
development, a private education facility, or other commercial uses. The site is
located just south of Arlington’s central business district with convenient access to
I-20, I-30, and SH 360, and is surrounded by established retail and neighborhood
amenities.
Investment highlights
- COVERED LAND PLAY WITH FLEXIBLE OCCUPANCY STRUCTURE - The property benefits from approximately $8,000 per month of absolute net income on a month-to-month lease structure, providing current cash flow while preserving near-term flexibility for owner-occupancy, redevelopment, or repositioning.
- PROXIMITY TO DENSE POPULATION BASE - The property is surrounded by a substantial residential base of 355,765 people and 129,502 households within a 5-mile radius, providing a strong foundation for congregation growth and community presence.
- RECENT CAPITAL IMPROVEMENTS COMPLETED - Extensive renovations completed between 2023 and 2025 have upgraded major building systems and interior spaces, allowing for immediate usability with limited near-term capital requirements.
- LEASING OPPORTUNITY TO INSTITUTIONAL USERS - The existing layout is well-suited for churches, schools, and other assembly-type users, supporting re-tenanting potential across multiple groups.
- ZONING SUPPORTS MULTIPLE USE STRATEGIES - RMF-22 zoning allows for high-density residential development as well as continued institutional or commercial use, providing flexibility for both near-term operation and longer-term redevelopment.
- STRONG REGIONAL ACCESSIBILITY - Located with direct access to I-20, I-30, and SH 360, the property sits within a dense Arlington corridor and offers convenient connectivity across the broader Dallas-Fort Worth Metroplex, supporting accessibility for employees, visitors, and future users.
- PROXIMITY TO MAJOR ARLINGTON EMPLOYMENT BASE - Situated near several of Arlington's largest employers — including General Motors, Texas Health Resources, the University of Texas at Arlington, and the Arlington Entertainment District — the asset benefits from a strong and consistent population base.
- LOCATED IN THE DALLAS-FORT WORTH GROWTH CORRIDOR - Positioned within the Dallas-Fort Worth Metroplex, a major U.S. growth market, the asset benefits from a diverse employment base, ongoing job expansion, and long-term population growth.
Listing Contacts
Listed by SVN | Trinity Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$96,000.00
$8,000.00/mo
Valuation Metrics
0
DSCR
4.17%
Cap Rate
4.17%
ROI
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