15301 Spectrum DrAddison, TX 75001

For Sale
Call for price

Prime Addison Office Investment, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional five-story, Class A office building, totaling 118,535 square feet, presents a compelling investment opportunity. Located at 15301 Spectrum Drive in Addison, Texas, this multi-tenant property boasts 80.1% occupancy and a strong NOI of $1,003,087. Built in 1983 and extensively renovated in 2016, The Spectrum features 24 units across its 2.848 acres. Modern upgrades include high-quality finishes, flexible floor plates, a state-of-the-art conference center, and an on-site deli. Conveniently situated near the intersection of Arapaho and Spectrum Drive, just west of the Dallas North Tollway, the property benefits from its proximity to four hotels, the Addison Circle mixed-use development, and abundant dining and entertainment options. The building offers covered parking and easy access to restaurants, parks, and transportation. This fee-simple ownership opportunity is in a thriving submarket with consistent growth and new construction, ensuring a stable and predictable return on investment with significant upside potential through lease-up and rent increases. The diverse tenant base and staggered lease expirations further enhance the property's long-term value. The Spectrum is an Energy Star certified building.

Highlights

  • 80.1% occupancy with strong cash flow and upside potential.
  • Excellent historical occupancy rates.
  • Prime Addison entertainment and retail district location.
  • Institutionally owned and managed.
  • Energy Star certified building.
  • Convenient proximity to Addison Airport.

Property Details for 15301 Spectrum Dr

Property type
Other office properties, Office properties
Square Feet
118,535 SF
Class
A
Year Built/Renovated
1983/2016
Stories
5
Lot Size (sq. ft)
124,059 SF
Units
24

Location Insight

City
Addison
County
Dallas
State
Texas
Latitude
32.9584143
Longitude
-96.8250698
15301 Spectrum Dr, Addison, Texas

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
15301 Spectrum Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message