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
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.
Foot & Ankle Association | 2421 Ira E Woods Ave
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
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
