15301 Spectrum Dr Addison, TX 75001-4665

Property Details for 15301 Spectrum Dr

Year built

1983

Construction

FRAME

Lot size

2.85 lot acres

Property size

116,804 SF

Zone code

Z32

Property type

Office buildings

APN

10005060000000100

APU

10005060000000100

Description

This exceptional five-story, Class A office building, totaling 118,535 square feet, presents a compelling investment opportunity. Located at 15301 Spectrum Drive in Addison, Texas, this multi-tenant property boasts 80.1% occupancy and a strong NOI of $1,003,087. Built in 1983 and extensively renovated in 2016, The Spectrum features 24 units across its 2.848 acres. Modern upgrades include high-quality finishes, flexible floor plates, a state-of-the-art conference center, and an on-site deli. Conveniently situated near the intersection of Arapaho and Spectrum Drive, just west of the Dallas North Tollway, the property benefits from its proximity to four hotels, the Addison Circle mixed-use development, and abundant dining and entertainment options. The building offers covered parking and easy access to restaurants, parks, and transportation. This fee-simple ownership opportunity is in a thriving submarket with consistent growth and new construction, ensuring a stable and predictable return on investment with significant upside potential through lease-up and rent increases. The diverse tenant base and staggered lease expirations further enhance the property's long-term value. The Spectrum is an Energy Star certified building.

Location Insight

City

Addison

County

Dallas

State

Texas

Longitude

-96.8254

Latitude

32.9584

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments