Skip to main content

Office Medical

Specialty Medical Center

7999 W Virginia Dr, Dallas, TX 75237

Listing Price: $4,720,000

Cap Rate
6.75%
Gross SF
15,214
Rentable SF
15,214
Price/Gross SF
$310.24
Occupancy
100.0%
Year Built
2009
Lot Size
1.39 acres

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to offer for sale the fee simple ownership interest in 7999 W Virginia, located in Dallas, Texas. The property’s major tenants are primarily Medical Tenants, including Phases of Life Women's Healthcare, Med Health, Dr. Shawndranique Gray, and Arlington Orthopedic Associates. The subject medical office building was built in 2009 and has been well maintained. The property is 100 percent occupied and all tenants are on triple-net leases, providing minimal landlord responsibilities. This property has a history of consistent cash flow, making it an attractive opportunity for an investor looking to acquire a high-quality asset with consistent returns in an expanding community, strategically located next to strong growth generators. An incoming investor on this deal should be looking to take advantage of the current market vacancy rate of 4 percent and executing longer lease terms at the fair market rate of $23.00 per square foot plus triple-net expenses; this would potentially allow the cash-on-cash return to be increased from 6.94 percent to 9.06 percent in less than 2 years. The Specialty Medical Center is a 15,214-square-foot, multi-tenant medical office building, located in the city of Dallas, Texas. The medical center is currently fully occupied with a diversified mix of medical-oriented tenants. The property is situated approximately 0.4 miles from Methodist Charlton Medical Center Hospital and is surrounded by an expanding medical community Methodist Health System is currently constructing a three-story addition to Methodist Charlton Medical Center expected to open in Summer of 2022. A new 40,000-square-foot Emergency Department (ED) located at Wheatland Road and Bolton Boone Drive will almost double the size of the current ED and increase the number of beds from 45 to 70. The new emergency department exemplifies the ongoing commitment of Methodist Health System to ensure that those who live in the southern sector of Dallas receive outstanding quality healthcare. The property is conveniently located off the intersection of Highway 67 and Interstate 20, allowing for easy access to the property. The property location is also within two miles of the new RedBird Mall redevelopment project. The 200-million-dollar redo consists of new housing, a hotel, restaurants, shops, and office space. The project has already had an impact on the surrounding area, as apartment investors have recently invested millions into their existing properties in preparation for the incoming economic benefits. The intersection of West Virginia Drive and West Wheatland Road has a high estimated annual average daily traffic count of 30,230 vehicles. The Specialty Medical Center medical office building benefits from strong demographics, serving a five-mile population of approximately 249,785 residents with a five-mile average household income exceeding $68,455.

Investment Highlights

  • Well Maintained Class B Medical Office
  • Property Offers a Diverse Mix of Medical Tenants
  • Fully Occupied with All Tenants on NNN Leases Providing Minimal Landlord Responsibilities
  • Proximity to Methodist Charlton Medical Center Hospital and RedBird Mall Redevelopment
  • Ideally Accessible from Hwy 67 and I-20
  • Densely Populated Area with 249,785 Residents within Five Miles

Exclusively Listed By

Financing By

Office Medical

Specialty Medical Center

Listing Price: $4,720,000

Cap Rate
6.75%
Gross SF
15,214
Rentable SF
15,214
Price/Gross SF
$310.24
Occupancy
100.0%
Year Built
2009
Lot Size
1.39 acres

Investment Highlights

  • Well Maintained Class B Medical Office
  • Property Offers a Diverse Mix of Medical Tenants
  • Fully Occupied with All Tenants on NNN Leases Providing Minimal Landlord Responsibilities
  • Proximity to Methodist Charlton Medical Center Hospital and RedBird Mall Redevelopment
  • Ideally Accessible from Hwy 67 and I-20
  • Densely Populated Area with 249,785 Residents within Five Miles

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to offer for sale the fee simple ownership interest in 7999 W Virginia, located in Dallas, Texas. The property’s major tenants are primarily Medical Tenants, including Phases of Life Women's Healthcare, Med Health, Dr. Shawndranique Gray, and Arlington Orthopedic Associates. The subject medical office building was built in 2009 and has been well maintained. The property is 100 percent occupied and all tenants are on triple-net leases, providing minimal landlord responsibilities. This property has a history of consistent cash flow, making it an attractive opportunity for an investor looking to acquire a high-quality asset with consistent returns in an expanding community, strategically located next to strong growth generators. An incoming investor on this deal should be looking to take advantage of the current market vacancy rate of 4 percent and executing longer lease terms at the fair market rate of $23.00 per square foot plus triple-net expenses; this would potentially allow the cash-on-cash return to be increased from 6.94 percent to 9.06 percent in less than 2 years. The Specialty Medical Center is a 15,214-square-foot, multi-tenant medical office building, located in the city of Dallas, Texas. The medical center is currently fully occupied with a diversified mix of medical-oriented tenants. The property is situated approximately 0.4 miles from Methodist Charlton Medical Center Hospital and is surrounded by an expanding medical community Methodist Health System is currently constructing a three-story addition to Methodist Charlton Medical Center expected to open in Summer of 2022. A new 40,000-square-foot Emergency Department (ED) located at Wheatland Road and Bolton Boone Drive will almost double the size of the current ED and increase the number of beds from 45 to 70. The new emergency department exemplifies the ongoing commitment of Methodist Health System to ensure that those who live in the southern sector of Dallas receive outstanding quality healthcare. The property is conveniently located off the intersection of Highway 67 and Interstate 20, allowing for easy access to the property. The property location is also within two miles of the new RedBird Mall redevelopment project. The 200-million-dollar redo consists of new housing, a hotel, restaurants, shops, and office space. The project has already had an impact on the surrounding area, as apartment investors have recently invested millions into their existing properties in preparation for the incoming economic benefits. The intersection of West Virginia Drive and West Wheatland Road has a high estimated annual average daily traffic count of 30,230 vehicles. The Specialty Medical Center medical office building benefits from strong demographics, serving a five-mile population of approximately 249,785 residents with a five-mile average household income exceeding $68,455.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower