2233 N Prairie Creek Rd, Dallas, TX

Listing agent Cameron Deptula

Listing office Davidson Bogel Real Estate c***@db2re.com Show Phone

Listing date Dec 14, 2020

Source Moodyscre

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Overview

This 89,715 square foot shopping center is strategically located on 6.96 acres in the heart of Southeast Dallas. The property is positioned in a dense, infill location and offers investors a stabilized revenue stream of $231,748 annually, along with value-add opportunities. These opportunities include below-market rents, lease-up potential, redevelopment possibilities, and the option to construct a pad site along N. Prairie Creek Road on a portion of the parking lot. The surrounding area has a strong Hispanic demographic, with 60.80%, 62.30%, and 52.60% of the population base within a 1, 3, and 5-mile radius identifying as Hispanic. The center benefits from its location near major thoroughfares, including Highway 87 to the north, Interstate 635 to the east, Highway 175 to the south, and the Downtown Dallas exchange to the west. The property features a new roof and an updated facade, both completed in 2014, along with a new security system and LED lighting also added in 2014. Long-serving tenants have occupied the premises for over 10 years. 81.55% of the shopping center, or 73,170 square feet, is on month-to-month leases, providing increased flexibility to reposition the asset and achieve new leases at market terms and rates.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Dallas

County

Collin

State

Texas

Longitude

-96.666

Latitude

32.7504

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FAQs

What type of property is this?

Shopping center - 89,715 SF shopping center with value-add opportunities in Dallas.

Where is this shopping center located?

The property is located at 2233 N Prairie Creek Rd Dallas, TX.

What is the asking price?

The asking price for this property is $2,600,000.

What are key features of this property?

This property features: Below replacement value pricing at $28.98 PSF for buildings and $8.57 PSF for land.; Stabilized revenue stream of $231,748 annually with value‑add opportunities.; Excellent infill location in SE Dallas with high population density.