Investment Overview

Marcus & Millichap is pleased to present Car Place Dallas, a single-tenant sale/leaseback investment opportunity proximate to Addison Airport. The newly renovated 24,348-square-foot asset is situated on 1.08 acres, located at 15502 Midway Road in Addison, Texas. The current owner/operator has over 20 years of operating history in the immediate area. They have gone through extensive renovations within the subject property, creating a class A finish-out, and intend to engage in a five-year triple-net sale/leaseback, which shall commence upon closing of the transaction. The subject property offers an exceedingly rare opportunity to acquire an indoor auto dealership asset in one of Dallas-Fort Worth's strongest submarkets. Addison, Texas has developed into an exceedingly sought-after district as the midpoint between the major cities of Dallas and Frisco, Texas. The specific location of the subject property features strong frontage on the main thoroughfare of Midway Road and convenient access to Addison Airport, as well as an average household income that exceeds $112,000 within a five-mile radius. Addison, Texas is positioned within the rapidly evolving Dallas-Fort Worth Metroplex, finds itself in the midst of the United States' fastest growing region in 2022. This dynamic area has witnessed substantial population growth, which has contributed to an exceptional retail landscape fueled by robust employment gains. In fact, Dallas-Fort Worth has garnered recognition from the U.S. Bureau of Labor Statistics as one of the leading metropolitan areas in the country for business expansions, relocations, and employment growth. Overall, Car Place Dallas offers a new investor the rare opportunity to acquire a newly renovated class A asset proximate to the Addison Airport. The proposed five-year, triple-net sale/leaseback provides a new investor with the potential for strong cash-flow and minimal landlord responsibilities over time, with a tenured operator with over 20 years of operating history.