4395 Northgate Dr Irving, TX 75062-2458

Property Details for 4395 Northgate Dr

Lot size

0.97 lot acres

Zone code

Z58

Property type

Commercial land

APN

32588950B1A1R0000

APU

32588950B1A1R0000

Description

This exceptional investment opportunity presents a single-tenant, absolute NNN leased Family Dollar store in Irving, Texas. The 8,400 square foot building, constructed in 2018, sits on a one-acre lot at 4395 W Northgate Dr, 75062, boasting a strong location with high visibility and traffic counts. The property benefits from a 15.1-year lease (8.4 years remaining) commencing February 28, 2018, and expiring March 30, 2033. The lease includes rent bumps of 5% every five years, starting April 1, 2028, and six 5-year lease options, also with 5% rent increases. The tenant, a credit-rated corporation, provides a corporate guarantee, ensuring consistent income. The property's strong financial performance is reflected in its 6.60% cap rate and a net operating income (NOI) of $133,941. The asking price is $2,029,410, translating to $241.60 per square foot and $2,029,410 per unit. The property's prime location within the Dallas/Fort Worth Metroplex, near DFW International Airport, and in a high-income demographic area (254,000+ residents within 5 miles, average household income over $107,000) contributes to its exceptional investment potential. The high traffic counts on W Northgate Dr (14,000 vehicles per day) and nearby State Hwy 161 (132,117 vehicles per day) further enhance the property's value. This is a turnkey investment with zero landlord responsibilities, offering a secure and profitable return for years to come. The all-brick construction ensures durability and longevity.