Building Details

Year Built 2015

Stories 1

Units 1

Tenancy Single

Abandoned No

Listing Agency: Northmarq - Chicago

Listed By: Isaiah Harf · License #IL 471019332 Show Phone

Source: Crexi

Added: Jul 30 Changed: Oct 14 Last Checked: Oct 16 at 8:52AM

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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 Northmarq - Chicago

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Investment Insights

Based on property information with market context.

This 9,100-square-foot convenience retail property at 2426 W Ledbetter Drive in Dallas was built in 2015. The building is occupied by Family Dollar, providing an established retail use within the existing improvements.

The current lease has 4+ years of remaining term, and the property is offered with an 8.00% cap rate. Its Dallas address is 2426 W Ledbetter Drive, Dallas, TX 75233.

Key Highlights

• 9,100 SF convenience retail property
• Family Dollar occupies the building
• 4+ years of lease term remaining

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$156,717

Cap Rate

9.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,134,340 $3.1M

Cap Rate 7%

$2,238,814 $2.2M

Cap Rate 9%

$1,741,300 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,100 SF

Gross rent

$219.5K $24.12/SF

− Vacancy

−$10.5K −$1.16/SF

EGI

$209.0K $22.96/SF

− OpEx

−$52.2K −$5.74/SF

NOI

$156.7K $17.22/SF

Area

Dallas, TX

Vacancy

4.80%

Lease Rate

$24.12 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,134,340

Cap Rate 7%

$2,238,814

Cap Rate 9%

$1,741,300

Alternative Uses

Best Use

Specialty Retail

$2.24M

$1.96M – $2.61M (±1% cap)

NOI $156,717 @ 7.0% cap · market cap 9.10%

Second Best

Retail

$2.09M

$1.83M – $2.44M (±1% cap)

NOI $146,423 @ 7.0% cap · market cap 8.50%

Theoretical Best

Office A

$10.92M

$9.55M – $12.74M (±1% cap)

NOI $764,348 @ 7.0% cap · market cap 44.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

American Best Transportation Trucking Company Family Dollar Discount Store

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Dental Office Auto Repair Shop Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

837

Businesses Nearby

24k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 48% Shops & Services 46% Electronics 6%

Burger King Dining

7,265 visits/mo 0.4 miles

Texaco Shops & Services

6,941 visits/mo 0.5 miles

O'Reilly Auto Parts Shops & Services

4,237 visits/mo 0.5 miles

Louisiana Fried Chicken Dining

2,956 visits/mo 0.5 miles

Metro by T-Mobile Electronics

1,482 visits/mo 0.4 miles

Demographics for 75216, TX

55,759

Population

20,612

Households

2.7

Avg Household Size

34

Median Age

9%

College-Educated

70%

High-School Grad

14.8 sq mi

ZIP Area

3,768

Density / Sq Mi

$37,613

Median Household Income

$31,020

Median Earnings

$1,169

Median Rent

$138,900

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Leased retail property with more than four years remaining on the current term.

Where is this grocery and convenience store located?

The property is located at 2426 W LEDBETTER DR Dallas, TX.

What is the asking price?

The asking price for this property is $1,721,787.

What are key features of this property?

This property features: 9,100 SF convenience retail property; Family Dollar occupies the building; 4+ years of lease term remaining