Current Use by Public Records
- The Landing / Business Service Center / Corporate Office
- Zachery Barnett, DPM / Physician
- Kien Tran / Physician / Medical Clinic
- BENIE C PHAM / Pediatrician / Physician
- Dr. Justin Wade / Physician
Property Details for 6800 Heritage Pkwy
- Year built
- 1985
- Lot size
- 1.20 lot acres
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This exceptional two-story medical office building, situated on 1.2 acres in Rockwall, Texas, presents a compelling investment opportunity. The 15,766 square foot property, constructed in 1985 and renovated in 2020, boasts a Class B rating and features ten units currently at 80% occupancy. A new roof was installed in December 2023. The building offers a strong net lease structure with a current NOI of $243,593, translating to an attractive 8.86% cap rate and a price per square foot of $174.43. The asking price is $2,750,000. Conveniently located at 6800 Heritage Pkwy, 75087, this property enjoys excellent visibility and accessibility, situated near Baylor Scott & White Hospital and Interstate 30. The ample parking ratio of 4.45 spaces per 1,000 square feet caters to tenants and visitors. With a mix of office and medical tenants, this multi-tenant building offers potential for increased value through leasing the remaining vacant space. The property's wood-framed construction and recent renovations contribute to its overall appeal and functionality. This is a rare opportunity to acquire a well-maintained, high-yield medical office building in a thriving Texas market. The property is offered as a net lease investment.
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
- Rockwall
- County
- Rockwall
- State
- Texas
- Longitude
- -96.5069
- Latitude
- 32.9202
