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Shopping Strip

Royal Green Plaza

8499 Greenville Ave, Dallas, TX 75231

Listing Price: $5,594,000

Cap Rate
6.25%
Gross SF
19,974
Rentable SF
19,974
Price/Gross SF
$280.06
Lot Size
0.98 acres
Year Built
1983

Investment Overview

Royal Green Plaza is a two-story, 19,974-square-foot, multi-tenant retail and medical office center located in Dallas, Texas. The center is 100 percent occupied, and tenants are a complementary mix of internet-resistant, service-oriented businesses including Healing Humans Chiropractic, M Hair Lounge, John David Studios, Woman's Health Boutique, Jones Beauty & Co., The Sculp Fairy, Dallas Gents Fine Men's Salon, We Only Wax Studio, 405 Ink tattoo studio, and Royal Lane Dental. Approximately 81 percent of the gross leasable area has triple-net leases, providing an investor upside potential in converting all leases to triple-net. Constructed in 1983, the building is situated on 0.98 acres with high visibility on Royal Lane. Landlord reports major property improvements were completed in 2022, including new HVAC units in all suites, parking lot restriping and partial repair, exterior painting, new tenant signage, updated landscaping with drought-tolerant plants, and the addition of LED exterior lights. Royal Green Plaza is located at the signalized, hard corner of Greenville Avenue and Royal Lane, with multiple ingress and egress points from each road. The subject property is less than two miles east of North Central Expressway, which enjoys extremely high-volume traffic counts in excess of 484,500 vehicles per day (north and southbound traffic). Greenville Avenue and Royal Lane have cumulative traffic counts of 53,341 vehicles per day. Neighboring national and regional retailers include The Home Depot, Studio Movie Grill, Conn's Home Plus, 24 Hour Fitness, Sherwin Williams, McDonald's, Tacodeli, CVS, WingStop, Domino's Pizza, Fuzzy's Taco Shop, and many more. The surrounding area benefits from strong demographics, serving a population of more than 392,786 residents within a five-mile radius and an average household income of $105,716.

Investment Highlights

  • 19,974-Square-Foot, Multi-Tenant Retail and Medical Office Center
  • Urban Infill Location in the Desirable Lake Highlands Submarket
  • 100% Occupied | 81% of the Current Leases are Triple-Net | Upside Potential in Converting All Leases to Triple-Net
  • Two-Story Building Situated on a 0.98-Acre Lot | Landlord Reports Significant Property Improvements Completed in 2022 Including New HVACs in All Suites, New Tenant Signage, Exterior Painting, Parking Lot Striping, Exterior LED Lighting, Landscaping Upgrades, and More
  • Signalized, Hard Corner Intersection of Greenville Avenue and Royal Lane | Cumulative Traffic Counts Exceed 53,340 Vehicles per Day

Exclusively Listed By

Shopping Strip

Royal Green Plaza

Listing Price: $5,594,000

Cap Rate
6.25%
Gross SF
19,974
Rentable SF
19,974
Price/Gross SF
$280.06
Lot Size
0.98 acres
Year Built
1983

Investment Highlights

  • 19,974-Square-Foot, Multi-Tenant Retail and Medical Office Center
  • Urban Infill Location in the Desirable Lake Highlands Submarket
  • 100% Occupied | 81% of the Current Leases are Triple-Net | Upside Potential in Converting All Leases to Triple-Net
  • Two-Story Building Situated on a 0.98-Acre Lot | Landlord Reports Significant Property Improvements Completed in 2022 Including New HVACs in All Suites, New Tenant Signage, Exterior Painting, Parking Lot Striping, Exterior LED Lighting, Landscaping Upgrades, and More
  • Signalized, Hard Corner Intersection of Greenville Avenue and Royal Lane | Cumulative Traffic Counts Exceed 53,340 Vehicles per Day

Investment Overview

Royal Green Plaza is a two-story, 19,974-square-foot, multi-tenant retail and medical office center located in Dallas, Texas. The center is 100 percent occupied, and tenants are a complementary mix of internet-resistant, service-oriented businesses including Healing Humans Chiropractic, M Hair Lounge, John David Studios, Woman's Health Boutique, Jones Beauty & Co., The Sculp Fairy, Dallas Gents Fine Men's Salon, We Only Wax Studio, 405 Ink tattoo studio, and Royal Lane Dental. Approximately 81 percent of the gross leasable area has triple-net leases, providing an investor upside potential in converting all leases to triple-net. Constructed in 1983, the building is situated on 0.98 acres with high visibility on Royal Lane. Landlord reports major property improvements were completed in 2022, including new HVAC units in all suites, parking lot restriping and partial repair, exterior painting, new tenant signage, updated landscaping with drought-tolerant plants, and the addition of LED exterior lights. Royal Green Plaza is located at the signalized, hard corner of Greenville Avenue and Royal Lane, with multiple ingress and egress points from each road. The subject property is less than two miles east of North Central Expressway, which enjoys extremely high-volume traffic counts in excess of 484,500 vehicles per day (north and southbound traffic). Greenville Avenue and Royal Lane have cumulative traffic counts of 53,341 vehicles per day. Neighboring national and regional retailers include The Home Depot, Studio Movie Grill, Conn's Home Plus, 24 Hour Fitness, Sherwin Williams, McDonald's, Tacodeli, CVS, WingStop, Domino's Pizza, Fuzzy's Taco Shop, and many more. The surrounding area benefits from strong demographics, serving a population of more than 392,786 residents within a five-mile radius and an average household income of $105,716.

Exclusively Listed By

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