10901 Garland Rd Dallas, TX 75218

Property Details for 10901 Garland Rd

Year built

1967

Construction

FRAME

Lot size

0.48 lot acres

Property size

15,536 SF

Zone code

Z59

Property type

Medical offices

Property subtype

Medical centers

APN

536100000110000

APU

536100000110000

Description

This exceptional investment opportunity presents a 15,536-square-foot medical office building in Dallas, Texas, boasting a strong 8% capitalization rate. The property, situated on a 0.48-acre lot at 10901 Garland Rd, 75218, is a two-story building constructed in 1967 and renovated in 2006. Currently 100% occupied by three tenants, including the anchor tenant, Smiley Dental & Orthodontics, the building benefits from a triple-net (NNN) lease structure with a corporate guarantee. The leases feature annual 2% rent increases, providing inflation protection. The current Net Operating Income (NOI) stands at $310,720. Smiley Dental & Orthodontics occupies 50% of the space under a new 15-year NNN lease, while Clinica San Andres and Smiley Dental Management office are under a three-year NNN lease. The owner-user option exists, as the 7,768 square foot upstairs office space occupied by Smiley Dental Management could be relocated. This stabilized investment offers a secure, long-term return in a rapidly growing metropolitan area, with the added benefit of no state income tax in Texas. The building's strong tenant base, coupled with the long-term lease agreements and built-in rent increases, makes this a compelling investment opportunity. The asking price is $3,884,000.