1700 Airport FwyIrving, TX 75062

For Sale
$2,325,000

1,500 SF Office/Warehouse, 6.75% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 1,500 square foot office and warehouse property situated on a 1.4-acre lot in Irving, Texas. Located at 1700 E. Airport Freeway, this single-tenant property boasts excellent visibility and freeway access, with over 150,000 daily vehicles passing by. The property is currently leased to Voyager Global Mobility under a NNN lease expiring April 29, 2029, with a built-in 3.5% annual rental escalation. This provides a stable income stream and significant yield growth throughout the lease term. The property features a 1,500 square foot office space and ample paved land, ideal for various uses. The property benefits from its strategic location, providing easy access to major highways including IH 183, IH 114, Loop 12, IH 35, IH 30, and IH 20, all within a 10-minute drive. The asking price is $2,325,000, representing a compelling 6.75% cap rate. The property is zoned for Commercial Outdoor District 2, within the 183 Overlay District. The lease includes one five-year renewal option with a 3.5% annual increase. This property offers a unique opportunity to acquire a high-quality asset with a strong tenant and below-market rent, in the largest MSA in Texas. Built in 1986, this property offers a significant return on investment with its prime location and stable lease. The property also features pole signage for enhanced visibility.

Highlights

  • Voyager Global Mobility is the tenant.
  • Rent escalates 3.5% annually.
  • Stable income stream from a single, long-term tenant.
  • 1,500 square foot office building on 1.33 acres of paved land.
  • Below replacement cost acquisition opportunity.
  • Excellent visibility and freeway access with IH 183 frontage and over 150,000 daily traffic counts.

Property Details for 1700 Airport Fwy

Property type
Other warehouses, Other office properties
Square Feet
1,500 SF
Year Built
1986
Lot Size (sq. ft)
60,984 SF

Location Insight

City
Irving
County
Dallas
State
Texas
Latitude
32.8360758
Longitude
-96.9237714
1700 Airport Fwy, Irving, Texas

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1700 Airport Fwy
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