541 Main StLewisville, TX 75057

For Sale
$2,130,000

High-growth area, NNN medical office.

Overview

Added:
Dec 11, 2024
Days on market:
93
This 10,323 square foot medical office building presents a compelling value-add investment opportunity in the thriving Lewisville, Texas market. Located at 541 W Main St, this multi-tenant property boasts a prime location directly across from Medical City Lewisville, a full-service, 186-bed acute care hospital. Built in 1985, the building sits on a 0.75-acre lot and is currently 65% occupied, offering significant upside potential for increased rental income. The property features a triple net lease structure (NNN), including management fees, with built-in rent increases. The asking price is $2,130,000, representing an attractive price per square foot of $206.34. The current NOI is $99,189, with a pro-forma NOI of $173,881, reflecting a current cap rate of 4.66% and a pro-forma cap rate of 8.16%. The strong demographics of the area, with a population exceeding 14,700 within a one-mile radius and an average income of $79,000, coupled with a 20% population growth over the last five years and projected 20% growth over the next five years, make this a highly desirable investment. Lease options are available upon request. This property offers long-term redevelopment potential and is a sought-after medical office opportunity in the Dallas/Fort Worth area.

Highlights

  • Long-term redevelopment opportunity in high-growth Lewisville, TX.
  • Medical office building directly across from Medical City Lewisville, a 186-bed acute care hospital.
  • High-density area: over 14,700 residents within one mile, $79,000 average income, and 20% population growth projected over the next 5 years.
  • Triple-net lease with built-in rent increases.
  • 65% occupancy; significant lease-up potential.
  • Attractive price of $206 per square foot.

Property Details for 541 Main St

Property type
Other retail properties, Individual retail properties
Square Feet
10,323 SF
Year Built
1985
Lot Size (sq. ft)
32,670 SF

Location Insight

City
Lewisville
County
Denton
State
Texas
Latitude
33.046336629836
Longitude
-97.005824731457
541 Main St, Lewisville, Texas

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541 Main St
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