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Single-Tenant Office Medical

Foot & Ankle Association | 2421 Ira E Woods Ave

2421 Ira E Woods Ave, Grapevine, TX 76051

Listing Price: $4,507,327

Cap Rate
6.62%
Tenant Name
Foot & Ankle Association of North Texas
Years Remaining On Lease
4.8
Gross SF
11,161
Guarantor
Local Franchisee
Rentable SF
11,161
Price/Gross SF
$403.85
Lease Type
Absolute Net
Rent Per Square Feet
$26.75

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale 2421 Ira E Woods Avenue in Grapevine, Texas, which is a medical property leased to Foot & Ankle Associates of North Texas. The Property is an 11,161 square foot medical office building built in 2004 on 49,092 square feet of land. The Tenant is a podiatrist office that specializes in foot surgery. The location also features a retail shoe store.

The investment property offers an investor an opportunity to purchase a medical building in a prime location of Grapevine. At the asking price of $4,507,327, an investor will achieve a year-one CAP Rate of 6.62 percent. An investor will also benefit from annual rent increases of $0.25 per square foot per year.

Despite two businesses operating at the subject property: Foot & Ankle Associates of North Texas and Restoration Physical Therapy, the lease is structured so that there is only one Lessee (Foot & Ankle Associates of North Texas) on an absolute triple-net lease. This allows an investor to pass all expenses along to the tenant and being able to charge the lessee for a management fee.

Investment Highlights

  • Attractive 6.62 Percent Day One CAP Rate With $0.25 Per Square Foot Annual Rent Increases
  • Minimal Landlord Responsibilities: One Lessee Under an Absolute Triple-Net Lease
  • Located at the Signalized Intersection of Ira E Woods Avenue and S Kimball Avenue
  • Close Proximity to to Grapevine Towne Center, Baylor Scott & White Medical Center, Walmart, Academy, and Additional National Retailers
  • Tenant Has Operated at Location for More Than Ten Years
  • Ability to Charge Tenant for Management Fee

Exclusively Listed By

Financing By

Single-Tenant Office Medical

Foot & Ankle Association | 2421 Ira E Woods Ave

Listing Price: $4,507,327

Cap Rate
6.62%
Tenant Name
Foot & Ankle Association of North Texas
Years Remaining On Lease
4.8
Gross SF
11,161
Guarantor
Local Franchisee
Rentable SF
11,161
Price/Gross SF
$403.85
Lease Type
Absolute Net
Rent Per Square Feet
$26.75

Investment Highlights

  • Attractive 6.62 Percent Day One CAP Rate With $0.25 Per Square Foot Annual Rent Increases
  • Minimal Landlord Responsibilities: One Lessee Under an Absolute Triple-Net Lease
  • Located at the Signalized Intersection of Ira E Woods Avenue and S Kimball Avenue
  • Close Proximity to to Grapevine Towne Center, Baylor Scott & White Medical Center, Walmart, Academy, and Additional National Retailers
  • Tenant Has Operated at Location for More Than Ten Years
  • Ability to Charge Tenant for Management Fee

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale 2421 Ira E Woods Avenue in Grapevine, Texas, which is a medical property leased to Foot & Ankle Associates of North Texas. The Property is an 11,161 square foot medical office building built in 2004 on 49,092 square feet of land. The Tenant is a podiatrist office that specializes in foot surgery. The location also features a retail shoe store. The investment property offers an investor an opportunity to purchase a medical building in a prime location of Grapevine. At the asking price of $4,507,327, an investor will achieve a year-one CAP Rate of 6.62 percent. An investor will also benefit from annual rent increases of $0.25 per square foot per year. Despite two businesses operating at the subject property: Foot & Ankle Associates of North Texas and Restoration Physical Therapy, the lease is structured so that there is only one Lessee (Foot & Ankle Associates of North Texas) on an absolute triple-net lease. This allows an investor to pass all expenses along to the tenant and being able to charge the lessee for a management fee.

Exclusively Listed By

Financing By

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