13398 Preston Rd Dallas, TX 75240-5208
- Banks
- 3,843 SF
- 0.42 lot acres
Current Use by Public Records
- Chase Mortgage / Mortgage Lender
- Chase Bank / Bank / Atm
- Chase ATM / Atm
Property Details for 13398 Preston Rd
- Year built
- 2011
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.42 lot acres
- Property size
- 3,843 SF
- Zone code
- Z248
- Property type
- Banks
- APN
- 007438000A0020000
- APU
- 007438000A0020000
Description
This exceptional investment opportunity presents a 3,843 square foot Chase Bank branch located at 13398 Preston Rd, Dallas, TX 75240. Built in 2011, this property sits on approximately 10.42 acres of land and boasts three drive-thru lanes, ensuring high traffic flow and excellent visibility along Preston Road, which sees approximately 154,100 vehicles per day. The current lease with Chase Bank expires January 1, 2032, offering a remaining term of 7.1 years. The lease includes four, five-year renewal options, potentially extending the lease for an additional 20 years. Rent increases by 10% every five years, beginning February 1, 2027. The property generates a Net Operating Income (NOI) of $163,350, resulting in a 5.35% cap rate. The asking price is $3,053,271. This investment is further enhanced by Chase Bank's strong financial performance, reporting deposits of $248,225,000 in fiscal year 2024 and $51,862,000 in fiscal year 2023, and its A+ credit rating from the S&P 500 Index. The property's location benefits from the proximity to the Valley View Mall redevelopment project, a planned $80 million mixed-use development including 275 luxury condos. This presents a compelling opportunity for long-term, stable income growth and appreciation. The ground lease is in place.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Dallas
- County
- Dallas
- State
- Texas
- Longitude
- -96.8032
- Latitude
- 32.9297
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
