Remodeled PetSuites on Midway
For Sale
Contact for pricing
13460 Midway Rd, Dallas, TX
Remodeled PetSuites in Farmers Branch, TX with long-term NNN lease.
Property Size15,633 SF
Lot Size1.05 Acres
Price / SF$456.50
Days on Market257
Property Features for 13460 Midway Rd
General Information
Standard status
Active
Size
15,633 SF
Lot size
1.05 Acres
Property subtype
RETAIL
Listing Agency:
Prime Net Lease
(714) 875-2400
Listed By:
Paul Matusik · License #01351021
(714) 875-2400
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 8
Last Checked: Aug 9 at 11:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Prime Net Lease
Investment Insights
Based on property information with market context.
The property is a newly remodeled PetSuites located in Farmers Branch, TX. Constructed in 1974 and remodeled in August 2022, the 15,633-square-foot building sits on 1.05 acres. The property is secured with a new twenty-year absolute NNN lease, transferring all landlord responsibilities to the tenant. The original corporately guaranteed lease has close to 19 years remaining on its initial term. The absolute NNN lease features 10% rental increases every five years during the base term and grants the tenant five successive five-year options to extend the lease. The lease is backed by a corporate guarantee from National Veterinary Associates (1000+ Units). The PetSuites is strategically located along Midway Road, which sees 50,486 vehicles per day. The site is surrounded by office and industrial properties and is located a quarter mile away from Dallas College Brookhaven Campus. The five-mile population from the site is 319,777, and the three-mile average household income is $102,701 per year. The area has been experiencing a healthy population growth averaging 4.4% annually. Total consumer spending within a 5-mile radius is estimated at $4.5 billion. The Dallas–Fort Worth–Arlington metroplex encompasses 11 counties and is the economic and cultural hub of North Texas. The Dallas–Fort Worth–Arlington metropolitan statistical area's population was 7,637,387 according to the U.S. Census Bureau's 2020 census.
Key Highlights
- Brand new 20‑year Absolute NNN Lease offers zero landlord responsibilities.
- Corporately guaranteed lease from National Veterinary Associates (1000+ Units) with close to 19 years remaining.
- Enjoy 10% rental increases every 5 years during the base term and five 5‑year options.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$251,542
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,030,840
$5.0M
Cap Rate 7%
$3,593,457
$3.6M
Cap Rate 9%
$2,794,911
$2.8M
Market Conditions
NOI Build-Up for 15,633 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$377.1K $24.12/SF
− Vacancy
−$17.7K −$1.13/SF
EGI
$359.3K $22.99/SF
− OpEx
−$107.8K −$6.90/SF
NOI
$251.5K $16.09/SF
Area
Dallas, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,030,840
Cap Rate 7%
$3,593,457
Cap Rate 9%
$2,794,911
Alternative Uses
Best Use
Retail
$3.59M
$3.14M – $4.19M
NOI $251,542 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.76M
$16.41M – $21.88M
NOI $1,313,082 @ 7.0% cap · market cap 18.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Exxon
Shops & Services
8,079 visits/mo
0.5 miles
Shell
Shops & Services
7,995 visits/mo
0.4 miles
Texaco
Shops & Services
4,552 visits/mo
0.4 miles
7-Eleven
Shops & Services
3,457 visits/mo
0.5 miles
CubeSmart Self Storage
Shops & Services
1,560 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Remodeled PetSuites in Farmers Branch, TX with long-term NNN lease.
Where is this storefront property located?
The property is located at 13460 Midway Rd Dallas, TX.
What is the asking price?
The asking price for this property is $7,136,434.
What are key features of this property?
This property features: Brand new 20‑year Absolute NNN Lease offers zero landlord responsibilities.; Corporately guaranteed lease from National Veterinary Associates (1000+ Units) with close to 19 years remaining.; Enjoy 10% rental increases every 5 years during the base term and five 5‑year options.
