Warehouse

8777 Governors Row

8777 Governors Row, Dallas, TX 75247

Listing Price: $1,100,000

Cap Rate
7.04%
Gross SF
11,475
Price/Gross SF
$95.86
Lot Size
0.80 acres
Year Built
1963
Rentable SF
11,475

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 8777 Governors Row in Dallas, Texas, leased to Servpro of Richardson. The subject property consists of approximately 11,475 square feet of space and is situated on 0.8 acres of land with a fenced/paved lot providing space for equipment and storage. The asset features masonry construction with an attractive exterior, one grade-level door, and a new roof over the office space installed in 2019. Featuring a break room and kitchenette, there is 2,500 square feet of office space. The current owner-user is Servpro of Richardson, providing residential and commercial restoration and cleaning services. The tenant is committed to a short-term, six-month leaseback upon close, offering an attractive owner-user or re-lease opportunity. The subject property is located in West Brookhollow with a market vacancy of 7.1 percent and off of John West Carpenter Freeway near the intersection with Stemmons Freeway.

West Brookhollow is between the Dallas CBD and the Dallas/Fort Worth International Airport. The submarket is split by Texas State Highway 183, which connects to several highways traveling in all directions through the metroplex. Most buildings lack the specifications necessary for modern distribution or e-commerce operations. Therefore, manufacturers, suppliers, or local distributors will continue to drive demand. Vacancy rates in West Brookhollow have historically been tight due to a complete lack of new supply with stable tenants. The supply outlook is muted, and there are still plenty of developable sites in nearby submarkets, making it unnecessary to redevelop existing assets here. Due to low vacancies, rent growth will likely continue to outperform the 10- year average for the next few years. (CoStar)

The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.1 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 800,000 residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the regions transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metros numerous corporations and growing industries. Dallas/Fort Worths population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 21 Fortune 500 companies and many regional headquarters, drawing workers and residents. The areas extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.

Investment Highlights

  • 11,475-Square-Foot Industrial Warehouse Situated on 0.8 Acres with Fenced/Paved Lot
  • Masonry Construction, Attractive Exterior; 1 Grade Door; New Roof Over Office Space
  • 2,500-Square-Feet of Office Space with Break Room and Kitchenette
  • Short-Term Six-Month Leaseback Upon Close; Owner-User or Re-Lease Opportunity
  • Current Owner-User is ServPro of Richardson
  • Located in West Brookhollow with a Market Vacancy of 7.1%

Exclusively Listed By

Listing Price: $1,100,000

Cap Rate
7.04%
Gross SF
11,475
Price/Gross SF
$95.86
Lot Size
0.80 acres
Year Built
1963
Rentable SF
11,475

Investment Highlights

  • 11,475-Square-Foot Industrial Warehouse Situated on 0.8 Acres with Fenced/Paved Lot
  • Masonry Construction, Attractive Exterior; 1 Grade Door; New Roof Over Office Space
  • 2,500-Square-Feet of Office Space with Break Room and Kitchenette
  • Short-Term Six-Month Leaseback Upon Close; Owner-User or Re-Lease Opportunity
  • Current Owner-User is ServPro of Richardson
  • Located in West Brookhollow with a Market Vacancy of 7.1%

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 8777 Governors Row in Dallas, Texas, leased to Servpro of Richardson. The subject property consists of approximately 11,475 square feet of space and is situated on 0.8 acres of land with a fenced/paved lot providing space for equipment and storage. The asset features masonry construction with an attractive exterior, one grade-level door, and a new roof over the office space installed in 2019. Featuring a break room and kitchenette, there is 2,500 square feet of office space. The current owner-user is Servpro of Richardson, providing residential and commercial restoration and cleaning services. The tenant is committed to a short-term, six-month leaseback upon close, offering an attractive owner-user or re-lease opportunity. The subject property is located in West Brookhollow with a market vacancy of 7.1 percent and off of John West Carpenter Freeway near the intersection with Stemmons Freeway.

West Brookhollow is between the Dallas CBD and the Dallas/Fort Worth International Airport. The submarket is split by Texas State Highway 183, which connects to several highways traveling in all directions through the metroplex. Most buildings lack the specifications necessary for modern distribution or e-commerce operations. Therefore, manufacturers, suppliers, or local distributors will continue to drive demand. Vacancy rates in West Brookhollow have historically been tight due to a complete lack of new supply with stable tenants. The supply outlook is muted, and there are still plenty of developable sites in nearby submarkets, making it unnecessary to redevelop existing assets here. Due to low vacancies, rent growth will likely continue to outperform the 10- year average for the next few years. (CoStar)

The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.1 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 800,000 residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the regions transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metros numerous corporations and growing industries. Dallas/Fort Worths population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 21 Fortune 500 companies and many regional headquarters, drawing workers and residents. The areas extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.

Exclusively Listed By

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