18303 Davenport Rd Dallas, TX 75252-5454

Property Details for 18303 Davenport Rd

Year built

1983

Lot size

0.95 lot acres

Property size

11,736 SF

Zone code

CR

Property type

Commercial real estate

APN

R-1304-00M-001A-1

APU

R130400M001A1

Description

This exceptional investment opportunity presents a 10,532-square-foot daycare center in Dallas, TX, at 18303 Davenport Road, 75252. The property boasts a strong 7.00% cap rate and a long-term, absolute triple-net (NNN) lease with 12.2 years remaining until the first option period. The lease commenced January 28, 2022, and expires January 31, 2037, with four 5-year renewal options, featuring 2% annual rent bumps and a 10% increase every five years during option periods. The tenant, Nest Schools, is a nationally recognized operator with 46 existing locations and plans for significant expansion. The property benefits from a corporate and personal guarantee, ensuring financial stability. Built in 1983 and renovated in 2023, this single-tenant property sits on a 1.3-acre lot and enjoys 100% occupancy, generating a net operating income (NOI) of $264,943. The property's location is advantageous, situated within a thriving community with an average household income of $131,440 and a population of 142,991 within a 3-mile radius. Furthermore, its proximity to numerous feeder elementary schools (15+ within a 5-mile radius) and the Dallas-Fort Worth International Airport (a 25-minute drive) enhances its appeal. The asking price is $3,784,900, translating to a price per square foot of $359.37. Dallas, the largest metropolitan area in Texas, offers the added benefit of being an income tax-free state. This is a rare opportunity to acquire a secure, high-performing asset in a rapidly growing market.