13460 Midway Rd Dallas, TX

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.