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Office

5005 West Royal Lane

5005 W Royal Ln, Irving, TX 75063

Listing Price: $5,495,000

Cap Rate
6.99%
Gross SF
73,344
Rentable SF
73,344
Price/Gross SF
$74.92
Lot Size
4.00 acres
Year Built
1983

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to offer for sale the fee simple ownership in 5005 Royal Lane located in Irving, Texas. The property is located on West Royal Lane in Irving with approximately 73,344 square feet of rentable space. The property’s major tenants include a Texas Property Tax Consultants Inc, the IT Services company Unigo, United Vision Logistics, Integritek, Assist Personnel LLC and Innocore. The subject of?ce building built in 1983 and renovated in 2004 and is an excellent owner/user or investor opportunity. This property has a history of consistent cash ?ow, making it an attractive opportunity for an investor looking for a quality asset with significant upside. The property's location is in an attractive sub-market for out-of-state companies relocating to the North Texas area and provides quick easy access to DFW Airport and is adjacent to the Dallas/Fort Worth Airport Marriott Subject property will enable an owner/user to purchase the asset. The property’s existing tenants can pay all the building’s expenses from the Tenant’s rental income with positive cash-on-cash income after debt payment. And enjoy the tax savings and appreciation in owning their office. The multi-tenant office building is conveniently located less than one-quarter mile from Interstate 114, allowing for easy access to the property and DFW Airport. The intersection of Freeport Pkwy and 5005 Royal Lane has an estimated average daily traffic volume of 18,938 vehicles. The property's location is an attractive submarket for out-of-state companies relocating to the North Texas area which has only increased demand for of?ce space and only 2.5miles and 5 minutes to DFW Airport.

Investment Highlights

  • 6.99% CAP Rate on Actual 58.80% occupancy and 13.04% Pro Forma CAP Rate
  • Value-Add Opportunity offered Below Replacement cost at $74.92psf and $5,495,000
  • Excellent Owner/User or Investor Opportunity
  • NOI $384,325 at 58% Actual Occupancy
  • Great location approximately 2.4 miles to DFW Airport
  • High Average Household Income of $119,843 Within Five Miles
  • Upside Through Leasing Vacant Space
  • Four 30-Ton and One 51-Ton Capacity Air Cooled Chillers are Located on the Roof of the Building

Exclusively Listed By

Financing By

Office

5005 West Royal Lane

Listing Price: $5,495,000

Cap Rate
6.99%
Gross SF
73,344
Rentable SF
73,344
Price/Gross SF
$74.92
Lot Size
4.00 acres
Year Built
1983

Investment Highlights

  • 6.99% CAP Rate on Actual 58.80% occupancy and 13.04% Pro Forma CAP Rate
  • Value-Add Opportunity offered Below Replacement cost at $74.92psf and $5,495,000
  • Excellent Owner/User or Investor Opportunity
  • NOI $384,325 at 58% Actual Occupancy
  • Great location approximately 2.4 miles to DFW Airport
  • High Average Household Income of $119,843 Within Five Miles
  • Upside Through Leasing Vacant Space
  • Four 30-Ton and One 51-Ton Capacity Air Cooled Chillers are Located on the Roof of the Building

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to offer for sale the fee simple ownership in 5005 Royal Lane located in Irving, Texas. The property is located on West Royal Lane in Irving with approximately 73,344 square feet of rentable space. The property’s major tenants include a Texas Property Tax Consultants Inc, the IT Services company Unigo, United Vision Logistics, Integritek, Assist Personnel LLC and Innocore. The subject of?ce building built in 1983 and renovated in 2004 and is an excellent owner/user or investor opportunity. This property has a history of consistent cash ?ow, making it an attractive opportunity for an investor looking for a quality asset with significant upside. The property's location is in an attractive sub-market for out-of-state companies relocating to the North Texas area and provides quick easy access to DFW Airport and is adjacent to the Dallas/Fort Worth Airport Marriott Subject property will enable an owner/user to purchase the asset. The property’s existing tenants can pay all the building’s expenses from the Tenant’s rental income with positive cash-on-cash income after debt payment. And enjoy the tax savings and appreciation in owning their office. The multi-tenant office building is conveniently located less than one-quarter mile from Interstate 114, allowing for easy access to the property and DFW Airport. The intersection of Freeport Pkwy and 5005 Royal Lane has an estimated average daily traffic volume of 18,938 vehicles. The property's location is an attractive submarket for out-of-state companies relocating to the North Texas area which has only increased demand for of?ce space and only 2.5miles and 5 minutes to DFW Airport.

Exclusively Listed By

Financing By

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