3100 O'connor Rd Irving, TX 75062

Property Details for 3100 O'connor Rd

Year built

2001

Property size

5,020 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional 5,020 square foot medical and traditional office building presents a compelling net lease investment opportunity in Irving, Texas. Located at 3100 N O'Connor Rd, this single-story, Class B property boasts a prime location in the desirable Las Colinas area, offering excellent visibility and accessibility. Built in 2001 and extensively renovated in 2022, the building features two units currently occupied at 100% occupancy, with a multi-tenant lease structure providing diversification and stability. The property includes 23 parking spaces and sits on a 21,998 square foot lot, zoned for Commercial-Professional Office use. The current lease term extends until November 30, 2025, with a remaining term of approximately one year and built-in 10% rent bumps. The property's strong financial performance is highlighted by a current NOI of $70,524, resulting in a 5.45% cap rate. Detailed financial statements, lease agreements, and building plans are available upon request. This is a rare opportunity to acquire a high-quality, fully occupied medical office building in a thriving market with significant upside potential. The asking price is $1,294,000, translating to $257.77 per square foot. The property's strong tenant base, favorable lease terms, and recent renovations make it an ideal investment for discerning buyers seeking a stable and appreciating asset. The property's location in Dallas County, Texas, offers easy access to major transportation arteries and a robust local economy.