4900 University Dr Prosper, TX 75078
Property profile & analytics
4900 University Dr Prosper, TX 75078
- Commercial real estate
- 37,200 SF
- 4.08 lot acres
Property ID
US83-1696402
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- LA Fitness Prosper / Spa & Massage Center / Gym & Fitness Center
- SafeSplash Swim School - Prosper (University Drive) / Tutoring Service
- LA Fitness / Gym & Fitness Center
Property Details for 4900 University Dr
- Year built
- 2021
- Lot size
- 4.08 lot acres
- Property size
- 37,200 SF
- Property type
- Commercial real estate
- APN
- R752740
- APU
- R752740
Description
This exceptional investment opportunity presents a fee-simple, 37,000-square-foot LA Fitness facility in Prosper, Texas. Built in 2022, this single-tenant property boasts a 13.1-year remaining lease (expiring 12/31/2037) with a credit-rated corporate guarantor, Fitness International, LLC. The lease is a Net-Net-Net (NNN) structure with rent bumps of $1.50 per square foot every five years, ensuring consistent income growth. Situated on a 4.08-acre lot with 250 parking spaces, the property enjoys a prime location on W University Dr, benefiting from high traffic counts on US 380 and FM 423. The property's strong financial performance is reflected in its $12,855,000 asking price, a $347.43 price per square foot, and a 5.75% cap rate, generating a current NOI of $739,260. The property is surrounded by a thriving retail environment, including major retailers like Kroger, Walmart, and HEB, as well as the Omni Hotel and PGA World Headquarters. Prosper's affluent demographics and rapid population growth, with average household incomes exceeding $158,756 within a 3-mile radius, further solidify this investment's long-term potential. The lease includes three 5-year renewal options. This is a core+ investment offering exceptional stability and growth prospects in a high-demand market.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Prosper
- County
- Denton
- State
- Texas
- Longitude
- -96.8816
- Latitude
- 33.2209
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$141,960
$2,667,832
$5,132,168
$7,800,000
-
$2,667,832
$5,132,168
$7,800,000
