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3230 Martin Luther King Jr Blvd Dallas, TX 75210

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Single-tenant net lease Fiesta Mart on 3.95 AC in Dallas.

Property size:
50,142 SF
Lot size:
3.95 Acres

Property Features for 3230 Martin Luther King Jr Blvd

General Information

Standard status
Active
Size
50,142 SF
Lot size
3.95 Acres

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Listing Contact
Blake Schur
Source: Crexi

Listing Agency: Davidson & Bogel Real Estate LLC Listing Agent: Blake Schur

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Fiesta Mart Covered Land Play

Located at 3230 Martin Luther King Junior Boulevard in Dallas, Texas, this property presents an opportunity to acquire a single-tenant net lease Fiesta Mart. The 50,447 square foot grocery store is situated on approximately 3.95 acres in the Fair Park market. Fair Park, home to the State Fair of Texas, is experiencing growth. The property offers investors and developers a covered land play with redevelopment potential, along with an absolute net lease generating $200,000 in net income annually. Fiesta has been operating at this location since 2011 and was purchased by Bodega Latina Corporation, a Chedraui company. As of 2021, Fiesta generated approximately $12.87 million in sales, equating to a 3.00% occupancy cost. Approximately 1.5 years remain on their current term, with two five-year renewal options. In 2020, Fiesta negotiated a six-month termination option, which they may elect at any time. The current net lease rate is $3.96 NNN. The absolute net lease structure requires minimal management. The revenue stream is backed by Chedraui.
Location Intelligence

Current Use by Public Records

Fiesta MLK Pharmacy Pharmacy Fiesta Mart #212 Grocery & Convenience Store Coinstar Kiosk | Bitcoin ... Atm 3230 Martin Luther ... Parking Lot & Garage Coinme at Coinstar - Bitcoin ... Shopping Center & Mall

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

Similar Places Nearby

Fiesta Mart #212, Bama Pie Co

Location Insight

  • Map
  • Local Demand
City
Dallas
County
Collin
State
Texas
Longitude
-96.7625855
Latitude
32.773234

FAQs

What type of property is this?
Grocery and convenience store - Single-tenant net lease Fiesta Mart on 3.95 AC in Dallas.
Where is this grocery and convenience store located?
The property is located at 3230 Martin Luther King Jr Blvd Dallas, TX.
What are key features of this property?
This property features: - Rare infill covered land play with ± 3.95 AC in the heart of Dallas' Fair Park market, ripe for redevelopment.; - Single-tenant net lease with Fiesta Mart, generating $200,000 in annual net income.; - Fiesta Mart is backed by Bodega Latina Corporation (Chedraui), a Mexican grocer conglomerate.
More about this property
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