1336 Irving Heights DrIrving, TX 75060

For Sale
$2,995,000

High-yield, single-tenant warehouse in Irving, TX

Overview

Added:
Dec 11, 2024
Days on market:
93
This 22,000 square foot industrial distribution and manufacturing facility, located at 1336 S Irving Heights Dr, Irving, TX 75060, presents a compelling investment opportunity. The property boasts a strong corporate guarantee from BrandSafway, a globally recognized company with over 360 locations and annual revenue exceeding $5 billion. The current lease, a Net Net (NN) agreement, has a remaining term of approximately one year, expiring November 30, 2025, with a fixed rent structure. The property features a newly installed roof (2021), minimizing immediate capital expenditures. The current Net Operating Income (NOI) is $164,108, yielding a 5.48% cap rate. However, the current rent of $7.46 per square foot is below market, presenting a significant value-add opportunity for the new owner. The property sits on a 2.34-acre lot and benefits from a strategic location within the Dallas/Fort Worth Metroplex, boasting excellent access to major highways including Interstate 35E, Interstate 635, Loop 12, and Highway 183, with daily traffic counts exceeding 132,000 vehicles. The surrounding area is densely populated, with over 210,000 residents within a 5-mile radius and over 1,000,000 within a 10-mile radius. The property's location within an established industrial area, alongside other national brands, further enhances its appeal. The asking price is $2,995,000. The Dallas/Fort Worth MSA consistently ranks highly for population growth, making this a stable and potentially high-growth investment. The property's strong tenant, low current rent, and prime location combine to create a compelling investment opportunity with significant upside potential. The property's APN is 32231800510010000.

Highlights

  • Strong corporate guarantee; investment-grade tenant with over 360 global locations and $5B+ annual revenue.
  • Industry-leading tenant providing access & scaffolding, forming, shoring, and industrial services.
  • Tenant valued at $6.7B in 2019 upon acquisition by Brookfield Business Partners.
  • NNN industrial property; minimal landlord responsibilities.
  • Excellent location west of Downtown Dallas; dense, infill trade area with over 210,000 residents within 5 miles.
  • Value-add opportunity; below-market rent of $7.46/SF with upside potential.

Property Details for 1336 Irving Heights Dr

Property type
Other warehouses, Other industrial properties
Square Feet
22,000 SF
Lot Size (sq. ft)
101,930 SF

Location Insight

City
Irving
County
Dallas
State
Texas
Latitude
32.7985391
Longitude
-96.924184
1336 Irving Heights Dr, Irving, Texas

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1336 Irving Heights Dr
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