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33320018
33320017

17345 GAFFIELD RD, JUSTIN, TX 76247

CC
TX TX: 783678
Marcus & Millichap - Dallas
DC
TX TX 722097
Marcus & Millichap - Dallas
AA
TX 661916
Marcus & Millichap - Dallas
Listed by Marcus & Millichap - Dallas
$2,875,000
33 days on market
Updated 32 days ago

Justin Multi-Tenant Value-Add

Details
APN R87605
Property Type Industrial
Sub Type Warehouse
Square Footage 22,900
Net Rentable (SqFt) 29,000
Units 16
Cap Rate 7.00%
NOI $201,261
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 8.49%
Pro-Forma NOI $244,112
Price per SqFt $126
Class B
Year Built 2023
Buildings 5
Stories 1
Acreage 2.350
Zoning Light Industrial
Ground Lease No
Ceiling Height 20
Loading Docks 32
Ownership Fee Simple

Industrial | 22,900 SqFt

Marketing description

The property is a five-building shallow-bay industrial asset that spans 22,900 square feet and sits on 2.35 acres of land. This industrial property was delivered in 2023 and features 32 grade-level doors, which provide easy access for loading and unloading goods. The clear height of the property is 20', allowing for efficient storage and operation. The property also boasts ample on-site parking, making it convenient for employees and visitors. The property presents a value-add opportunity for investors to convert short-term, below-market gross leases to long-term triple-net terms at market rate. This conversion would increase the property's revenue and value, making it a more attractive investment opportunity. By converting these leases to triple-net terms, investors can reduce their operational expenses and increase their returns. The property's strong features and location make it an ideal candidate for this type of value-add strategy.

Investment highlights

  • Five-Building 22,900-Square-Foot Shallow-Bay Industrial Asset Situated on 2.35 Acres
  • Delivered in 2023, Featuring 32 Grade-Level Doors, 20' Clear Height, and Ample On-Site Parking
  • Value-Add Opportunity to Convert Short-Term, Below-Market Gross Leases to Long-Term Triple-Net Terms at Market Rate
  • Strategic Location with Immediate Access to SH114 and I-35W, Providing Strong Connectivity Throughout DFW Metroplex
  • Located in High-Demand NE Tarrant/Alliance Submarket with Vacancies Down 6.0 Percentage Points Since 2024 | 7.7% Vacancy Rate, Below DFW Average

Listing Contacts

CC
TX TX: 783678
Marcus & Millichap - Dallas
DC
TX TX 722097
Marcus & Millichap - Dallas
AA
TX 661916
Marcus & Millichap - Dallas
Listed by Marcus & Millichap - Dallas

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$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$201,261.00
$16,771.75/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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Additional Information

Name
Tim Speck
License
TX 9002994
Title
Broker of Record
Name
Cole Collins
License
TX: 783678
Name
Davis Cagle
License
TX 722097
Brokerage Phone
(972) 755-5230
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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