Current Use by Public Records
- Office Spaces
Property Details for 3100 O'connor Rd
- Year built
- 2001
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
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.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Irving
- County
- Dallas
- State
- Texas
- Longitude
- -96.9501
- Latitude
- 32.8471
