Single-Tenant Net Lease PrimeCare ER

Property Details

Asking Price:
$1,800,000
Tenancy:
Single Tenant
Square Footage:
6,000 sqft
Year Built:
2003
NOI:
$126,000

Single-Tenant Net Lease PrimeCare ER

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Property Overview

  • Excellent Exposure and Access to S. Cooper Street Which Carries Over 53,000 VPD
  • Single-Tenant Net Lease with Landlord Responsible for Roof and Structure
  • Significantly Below Market Rent
  • Personal Guarantee from High Net Worth Individual/Operator
  • Average HH Income Exceeds $99,000 in a Three-Mile Radius
  • Outparceled to a Grocery-Anchored Shopping Center
  • Over 115,000 People in a Three-Mile Radius
  • Over Seven Years Left On Primary Term With a 10% Increase Starting in January 2022
This freestanding 6,000 square foot PrimeCare is situated on 37,940 square feet of land and has over seven years remaining on the primary term with a 10% increase starting in January 2022. The building was constructed in 2003. The site is located on the NWC of S. Cooper Street and W. Sublett Road in the densely established trade area of south Arlington, Texas and is anchored by a 53,000 square foot Albertsons grocery store and Stein Mart. The property is located 1.7 miles south of the intersection of I-20 and S. Cooper Street, which holds Arlington’s largest concentration of retail with over six million square feet of national and local tenants. This PrimeCare is centrally located within the Dallas-Fort Worth trade area approximately 13 miles east from downtown Fort Worth and approximately 20 miles west from downtown Dallas. Arlington, TX is the seventh most populated city in Texas with a population of 398,112 people. The Dallas-Fort Worth metroplex is the largest metropolitan area in Texas, the largest in the south, and fourth largest in the U.S. with a population of 7,539,711, according to the new 2019 U.S. Census population estimate. Overall, DFW is the 11th largest metro economy in the world and has a gross metro product exceeding $535 billion according to the Bureau of Economic Analysis. As a result, the metroplex benefits from the 24 Fortune 500 company headquarters and the 43 Fortune 1000 headquarters located throughout DFW. Arlington’s robust economy can primarily be attributed to its economic diversity with industries ranging from education, manufacturing, retail, entertainment, and health care. The city is home to the University of Texas at Arlington (42,496 students), General Motors, The Parks Mall at Arlington, the Dallas Cowboys, the Texas Rangers, Six Flags Over Texas amusement park, and Texas Health Resources. This PrimeCare 24-hour Emergency Center at S. Cooper Street and W. Sublett Road lies in the path of residential growth at a strong daily needs intersection. The site benefits from a dense population of over 115,000 people with average household incomes in excess of $99,000 in a three-mile radius. The property has strong street exposure and benefits from a combined traffic count of over 70,000 vehicles per day at the intersection. Proximity to the super-regional retail corridor combined with the daily needs draw of a grocery-anchored shopping center ensures the long-term success of this asset.