2430 Lillian Miller Pkwy Denton, TX 76205-2909

Property Details for 2430 Lillian Miller Pkwy

Year built

1998

Lot size

0.69 lot acres

Property size

3,888 SF

Property type

Commercial real estate

APN

R197130

APU

R197130

Description

This exceptional 3,747 square foot retail storefront, located at 2430 Lillian Miller Pkwy in Denton, Texas, presents a compelling investment opportunity. The property boasts a 7.00% cap rate and a Net Net lease with Smile Doctors, the largest ortho-focused dental support organization in the U.S., currently occupying the entire space at 100% occupancy. The building, constructed in 1998, sits on a sizable 0.71-acre lot, offering significant potential for future development or repurposing. The current lease is with Smile Doctors, a highly reputable national tenant, providing a strong and stable income stream. The property benefits from a below-market rent of $24 per square foot, significantly lower than new developments in the area leasing for over $30 per square foot, representing a value-add opportunity. The location is highly desirable, situated near I-35, a major thoroughfare with over 135,000 vehicles traveling daily, and within a rapidly growing area that has experienced a 57.4% population increase within a one-mile radius since 2010. The asking price is $1,285,000, with a current NOI of $89,872. The property's minimal landlord responsibilities include maintaining sidewalks, parking areas, and the building structure. The lease is a single-tenant, Net Net lease with no remaining options, presenting an opportunity to negotiate a new lease agreement. This property offers a blend of strong current income and significant long-term potential.