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Office

1400 Corporate Drive

1400 Corporate Dr, Irving, TX 75038

Listing Price: $8,500,000

Cap Rate
6.57%
Gross SF
69,309
Rentable SF
69,309
Price/Gross SF
$122.64
Lot Size
3.76 acres
Year Built
1983

Investment Overview

Marcus & Millichap is pleased to offer 1400 Corporate Drive, a three-story of?ce building located in Irving, Texas and minutes from DFW International Airport with easy access to both the George Bush Turnpike and Highway 114. Built in 1983 and updated in 2004, the property’s major tenants include Legions Advertising, Homeowners of America Insurance, and Pharmapix. The subject of?ce building, built in 1983, is an excellent owner/user or investor opportunity. The property has a history of consistent cash ?ow, making it an attractive opportunity for an investor seeking a quality asset with signi?cant upside in leasing vacant space. The property's location is in an attractive submarket for out-of-state companies relocating to the North Texas area and provides quick easy access to the Dallas/Fort Worth International Airport. The property will enable an owner/user to purchase the asset and have the existing tenants pay all the building’s expenses from the Tenant’s rental income with 6.78 percent positive cash-on-cash income after debt load, and enjoy the tax savings, control and appreciation in owning their of?ce. Ideally accessible to the DFW metroplex, the property is situated between President George Bush Turnpike and Highway 114. The of?ces at 1400 Corporate Drive sees a high estimated average daily traf?c count of 16,850 vehicles, and bene?ts from strong demographics, serving a ?ve-mile population of approximately 206,867 residents with a three-mile average household income exceeding $106,893

Investment Highlights

  • Perfect for an investor or owner/user
  • Well Maintained - Class B+ Office
  • Well Maintained - Class B+ Office
  • Substantially below replacement cost at $131.99 psf
  • Beautiful brick veneers with bronze smoked glass windows
  • Great Parking Ratio of 4.5 per 1,000sf
  • NOI $558,527 at 78% Actual Occupancy
  • Upside Through Leasing Vacant Space

Exclusively Listed By

Office

1400 Corporate Drive

Listing Price: $8,500,000

Cap Rate
6.57%
Gross SF
69,309
Rentable SF
69,309
Price/Gross SF
$122.64
Lot Size
3.76 acres
Year Built
1983

Investment Highlights

  • Perfect for an investor or owner/user
  • Well Maintained - Class B+ Office
  • Well Maintained - Class B+ Office
  • Substantially below replacement cost at $131.99 psf
  • Beautiful brick veneers with bronze smoked glass windows
  • Great Parking Ratio of 4.5 per 1,000sf
  • NOI $558,527 at 78% Actual Occupancy
  • Upside Through Leasing Vacant Space

Investment Overview

Marcus & Millichap is pleased to offer 1400 Corporate Drive, a three-story of?ce building located in Irving, Texas and minutes from DFW International Airport with easy access to both the George Bush Turnpike and Highway 114. Built in 1983 and updated in 2004, the property’s major tenants include Legions Advertising, Homeowners of America Insurance, and Pharmapix. The subject of?ce building, built in 1983, is an excellent owner/user or investor opportunity. The property has a history of consistent cash ?ow, making it an attractive opportunity for an investor seeking a quality asset with signi?cant upside in leasing vacant space. The property's location is in an attractive submarket for out-of-state companies relocating to the North Texas area and provides quick easy access to the Dallas/Fort Worth International Airport. The property will enable an owner/user to purchase the asset and have the existing tenants pay all the building’s expenses from the Tenant’s rental income with 6.78 percent positive cash-on-cash income after debt load, and enjoy the tax savings, control and appreciation in owning their of?ce. Ideally accessible to the DFW metroplex, the property is situated between President George Bush Turnpike and Highway 114. The of?ces at 1400 Corporate Drive sees a high estimated average daily traf?c count of 16,850 vehicles, and bene?ts from strong demographics, serving a ?ve-mile population of approximately 206,867 residents with a three-mile average household income exceeding $106,893

Exclusively Listed By

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