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689 Airport Fwy 20,319 sq ft Office Property Hurst, TX 76053 £2,858,125 (£140.66/sq ft) 7.39% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Property is Available For Sale or For Lease (existing tenant lease expires 6/30/2030 and has indicated a willingness to downsize if desired)
- Average Cap Rate of ~7.65% over remaining lease term
- Existing lease provides for limited Landlord responsibilities along with annual rent increases.
- Subject property contains approximately 20,319 RSF on 3 acres, and is currently 100% leased to MRO Corporation.
- Well maintained property with major tenant improvements recently completed in 2019. Heavily parked at a ratio of 8.6/1000.
- Central location within the metroplex offering seamless access to airports and employee base.
EXECUTIVE SUMMARY
Prime investment opportunity in the heart of DFW, currently fully leased to strong corporate tenant through 2030.
Property is being offered for sale or for lease
Opportunity for Owner/User as tenant has indicated a willingness to downsize up to ~20,000 sf
Lease provides for Limited landlord responsibilities as well as annual rent increases.
Potential value opportunity priced near replacement cost at below existing market rents.
Property is being offered for sale or for lease
Opportunity for Owner/User as tenant has indicated a willingness to downsize up to ~20,000 sf
Lease provides for Limited landlord responsibilities as well as annual rent increases.
Potential value opportunity priced near replacement cost at below existing market rents.
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Office
Property Size
20,319 sq ft
Costar Property Class
B
Year Built/Renovated
1986/2019
Price
£2,858,125
Price per sq ft
£140.66
Yield
7.39%
NOI
£211,204
Tenancy
Single
Number of Floors
1
Typical Floor Size
20,319 sq ft
Plot ratio
0.15
Total Plot Size
3.02 ac
Use Class
GD-PD, Hurst - General Business District is intended to permit an extensive variety of commercial uses including retail, office, entertainment, and medical uses.
Parking
176 Spaces (8.66 Spaces per 1,000 sq ft Leased)
AMENITIES
- 24 Hour Access
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- USE
- CONDITION
- AVAILABLE
Recently Remodeled Space Mostly open floor plan including secure reception, private offices, conference and training rooms, and distribution area
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 10,000-20,319 sq ft | Office | Full Fit-Out | 30 Days |
1st Floor
| Size |
| 10,000-20,319 sq ft |
| Space Use |
| Office |
| Condition |
| Full Fit-Out |
| Available |
| 30 Days |
1 of 18
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Floor
| Size | 10,000-20,319 sq ft |
| Space Use | Office |
| Condition | Full Fit-Out |
| Available | 30 Days |
Recently Remodeled Space Mostly open floor plan including secure reception, private offices, conference and training rooms, and distribution area
1 1
PROPERTY TAXES
| Parcel Number | 06151663 | Improvements Assessment | £617,687 |
| Land Assessment | £495,868 | Total Assessment | £1,113,555 |
PROPERTY TAXES
Parcel Number
06151663
Land Assessment
£495,868
Improvements Assessment
£617,687
Total Assessment
£1,113,555
1 of 19
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
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689 Airport Fwy
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