3210 Milrany Ln Melissa, TX 75454

Property Details for 3210 Milrany Ln

Lot size

2.72 lot acres

Property type

Commercial land

APN

R-12527-00A-001R-1

APU

R1252700A001R1

Description

Milrany Crossing is a 12,002-square-foot, multi-tenant retail center in the rapidly growing Melissa, Texas market. This 100% occupied, stabilized investment property boasts five tenants under triple-net (NNN) leases, all with rent escalations and renewal options. Built in 2023, the center features an attractive design and ample concrete parking on a 1.629-acre lot. Strategically located at the signalized intersection of Milrany Lane and Sam Rayburn Highway (State Highway 121), it benefits from high daily traffic counts exceeding 25,450 vehicles. The tenant mix includes a diverse range of businesses, including Texas Health Urgent Care, Noni's Brunch House, Casa Bella Décor, Gideon Math & Reading Center, and Amaze Nail Bar. The property's strong location is further enhanced by its proximity to Melissa High School (approximately 1,485 students), major retailers like Kroger and Buc-ee's (within four miles), and new developments such as H-E-B and Dutch Bros. The surrounding area exhibits high affluence, with average household incomes exceeding $130,000 within a five-mile radius. This exceptional investment opportunity offers a 6.25% cap rate and a strong NOI of $444,433. The asking price is $7,110,900, translating to $592.48 per square foot. The property's location near significant residential developments, including Farmhouse 121 Apartments and Avilla Springs, ensures continued growth and strong tenant demand.