Listed by Wells Asset Management Inc
Unpriced
PLANO PARKWAY MEDICAL OFFICE
Details
Property Type Office
Sub Type Medical Office
Square Footage 31,700
Net Rentable (SqFt) 30,857
NOI $489,394
Occupancy 100%
Tenancy Multi
Lease Type Modified
Pro-Forma NOI $487,249
Class B
Year Built 1982
Buildings 1
Stories 2
Acreage 2.000
Parking Spaces 107 spaces
Parking Per SqFt 3.38
Investment Type Value Add
Sale Condition N/A
Office | 31,700 SqFt
Marketing description
Wells Asset Management presents the opportunity to acquire a highly entrenched medical office building located in Plano, Texas.
Investment highlights
- Entrenched Location for Medical Office Tenants
- Close Proximity to major hospitals: Medical City Plano (1 mile), Baylor Plano (1.5 miles), and Texas Health Presbyterian (6 miles)
- Stable Historical Occupancy with Longstanding Tenant Base
- Longstanding tenant base with 100% of tenant base in place since 2009 with most prior to 2004.
- Substantial Visibility with Longer Term Leases
- 98% of rent income derived from tenant leases that are in place through August 2027 and beyond.
- Strong Free Cash Flow with Minimal Capex
- Historical capex has averaged < $75,000 per annum the past five years driving substantial free cash flow and distribution opportunity to buyer.
Listing Contacts
Listed by Wells Asset Management Inc
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$489,394.00
$40,782.83/mo
Valuation Metrics
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