Current Use by Public Records
- Retail properties & Spaces
Property Details for 733 Us-287
- Year built
- 2020
- Lot size
- 3.20 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional retail investment opportunity, the Newport Complex, presents a compelling case for investors seeking strong returns. Located at 733 US-287 in Mansfield, Texas (zip code 76063), this 16,380 square foot property sits on a 3.196-acre lot and boasts a 6.41% cap rate with a Net Operating Income (NOI) of $336,769. Built in 2020, the property features new Class "A" office construction and is currently 100% occupied with a multi-tenant lease structure under a NNN (Triple Net) lease. The property benefits from a prime location directly off Highway 287, experiencing over 60,000 vehicles per day, ensuring high visibility and accessibility. The surrounding area demonstrates strong demographics, with a 3-mile radius boasting an average household income of $124,913 – significantly above the national average – and steady 2% annual population growth from 2010 to 2023. Convenient ingress and egress, coupled with proximity to major national retailers such as Chick-fil-A, Walmart, Tom Thumb, McDonald's, Target, and The Home Depot, further enhances the property's value and appeal. The diverse tenant mix, ranging from medical to general/professional uses, offers stability and ease of tenant replacement. The asking price for this exceptional property is $5,250,000. This presents a unique opportunity to acquire a high-performing asset in a thriving market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mansfield
- County
- Tarrant
- State
- Texas
- Longitude
- -97.1261
- Latitude
- 32.5756
