490 Oakbend Dr Lewisville, TX 75067

Property Details for 490 Oakbend Dr

Year built

2021

Lot size

1.98 lot acres

Property size

15,784 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a 15,784 square foot PetSuites, a Class A, single-tenant, freestanding building constructed in 2021. Located in Lewisville, Texas, at 490 Oakbend Dr, 75067, this property boasts a prime location with excellent visibility from Interstate 35 (176,049 vehicles per day) and S Stemmons Freeway (41,466 vehicles per day). The property sits on a 1.98-acre lot and benefits from a 20-year absolute NNN lease with a corporate guarantee from National Veterinary Associates (NVA) Inc., a subsidiary of JAB Holdings. The lease commenced October 29, 2021, and has approximately 17 years remaining, with five, 5-year renewal options. Rent increases by 10% every five years, providing inflation protection. The strong demographics of the area, with nearly 250,000 residents within a 5-mile radius and an average household income exceeding $115,000 annually, further enhance the investment's appeal. The asking price is $7,393,773, representing a 4.60% cap rate and a price per square foot of $468.43. The current Net Operating Income (NOI) is $340,113. This is a truly exceptional, low-maintenance investment opportunity with significant long-term growth potential in a thriving Texas market. The property offers zero landlord responsibilities, as the tenant is responsible for all taxes, insurance, and maintenance, including the roof, structure, and parking lot. This built-to-suit facility is a turnkey investment, ideal for passive income seekers.