500 Border St Arlington, TX 76010

Property Details for 500 Border St

Year built

1982

Lot size

11.01 lot acres

Property size

289,419 SF

Property type

Office buildings

APN

41568--1

APU

415681

Description

This exceptional Class A office building, the Chase Bank Tower, presents a compelling investment opportunity in Arlington, Texas. Located at 500 E Border St, 76010, this multi-tenant property boasts 271,078 square feet situated on an expansive 11.01-acre lot. Built in 1983, the building offers a strong 8.00% capitalization rate and a current NOI of $1,957,439, with an asking price of $24,977,975. The current occupancy rate stands at 62.8%, presenting significant upside potential. The price per square foot is $92.14, considerably below replacement cost. A key strength is the presence of JP Morgan Chase as a significant anchor tenant, occupying the property since 2006. The property benefits from its convenient location near the Arlington Entertainment District, including AT&T Stadium, Texas Live!, Six Flags, and Globe Life. The building features Class A interior finishes and a newly added grab-and-go eatery in the lobby. Furthermore, three new long-term leases, averaging eight years remaining, contribute nearly 17% to the current occupancy. The average current rental rate is $19.03 per square foot. This property offers a rare combination of strong cash flow, significant upside potential, and a prime location in a thriving market.

Location Insight

City

Arlington

County

Tarrant

State

Texas

Longitude

-97.1015

Latitude

32.7326

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments