3100 O'connor RdIrving, TX 75062

For Sale
$1,294,000

High-Yield NNN Investment, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 5,020 square foot medical and traditional office building presents a compelling net lease investment opportunity in Irving, Texas. Located at 3100 N O'Connor Rd, this single-story, Class B property boasts a prime location in the desirable Las Colinas area, offering excellent visibility and accessibility. Built in 2001 and extensively renovated in 2022, the building features two units currently occupied at 100% occupancy, with a multi-tenant lease structure providing diversification and stability. The property includes 23 parking spaces and sits on a 21,998 square foot lot, zoned for Commercial-Professional Office use. The current lease term extends until November 30, 2025, with a remaining term of approximately one year and built-in 10% rent bumps. The property's strong financial performance is highlighted by a current NOI of $70,524, resulting in a 5.45% cap rate. Detailed financial statements, lease agreements, and building plans are available upon request. This is a rare opportunity to acquire a high-quality, fully occupied medical office building in a thriving market with significant upside potential. The asking price is $1,294,000, translating to $257.77 per square foot. The property's strong tenant base, favorable lease terms, and recent renovations make it an ideal investment for discerning buyers seeking a stable and appreciating asset. The property's location in Dallas County, Texas, offers easy access to major transportation arteries and a robust local economy.

Highlights

  • $1,294,000 asking price for a 5,020 SF Class B medical/traditional office building in Irving, TX.
  • Net lease investment opportunity with a 5.45% cap rate and $70,524 annual NOI.
  • Fully occupied, multi-tenant property with two tenants on a NNN lease expiring November 30, 2025.
  • Located at 3100 N O'Connor Rd, Irving, TX 75062, with 23 parking spaces and 21,998 SF lot size.
  • Renovated in 2022, offering strong curb appeal and low risk.
  • Building features include 1 story, 5,020 square feet of rentable space, and a 10% rent bump provision.

Property Details for 3100 O'connor Rd

Property type
Other office properties, Medical offices
Square Feet
5,020 SF
Class
B
Year Built/Renovated
2001/2022
Buildings
1
Stories
1
Units
2

Location Insight

City
Irving
County
Dallas
State
Texas
Latitude
32.847099
Longitude
-96.9500667
3100 O'connor Rd, Irving, Texas

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3100 O'connor Rd
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