WellMed Hurst,Texas

$1,103,049
Closed Single-Tenant
Property type:Single-Tenant Net Lease

The space

  • Listing Price: $1,103,051
  • NOI: $75,559
  • Cap Rate: 6.85%
  • Lease Type: Double Net
  • Guarantor: Corporate Guarantee
  • Rentable Square Feet: 3,762
  • Lot Size: 0.47 Acres (20,473 SF)
  • Year Built: 1998

Description

466 Mid Cities Blvd.
Hurst, Texas 76054

Investment Highlights

  • WellMed is a Multibillion-Dollar Revenue Healthcare Company Serving the Senior Population Primarily in Texas and Florida
  • More Than 400 Primary Care and Specialist Locations
  • Population of 283,227 Within Five Miles of Property
  • Average Household Income is $156,764 in One Mile of Subject Property, and $126,777 in Three Miles
  • Two, Five-Year Tenant Renewal Options | Three Percent Rent Increases Every Three Years in Base Term and Option Periods
  • Surrounding National Brands Include Lowe’s, The Home Depot, Walmart Supercenter, Target, Kroger, Sprouts Farmers Market, Aldi, Kohl’s, Planet Fitness, Office Depot, T-Mobile, Jiffy Lube, Panera Bread, McDonald’s, Outback Steakhouse, Chick-fil-A, Firehouse Subs, Raising Cane’s, Starbucks, 7-Eleven, CVS and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a WellMed in Hurst, Texas. WellMed is a multibillion-dollar revenue healthcare company serving the senior population and working hard to keep older adults healthy. Today, WellMed is a network of doctors, specialists and other medical professionals that specialize in providing care for more than 700,000 adults with over 18,000 doctors’ offices in Texas and Florida.

The Subject Property is 26 miles West of Dallas and is part of the Dallas-Fort Worth metro area, which is the fourth-most populous metro in the nation with a total population of nearly 7.5 million residents. The immediate area has strong demographics with the population more than 280,000 within a five-mile radius of the Subject Property. The population growth in the Dallas metro in recent years ranks among the highest in the U.S. for a major metro. The average household income in one mile is $156,764.

This WellMed is in a high-traffic retail corridor, on Mid Cities Boulevard with more than 14,000 vehicles, and off Grapevine Highway with more than 32,200 vehicles. The Property is conveniently located near Interstate 820, a major thoroughfare with more than 120,000 vehicles daily. Surrounding national brands include Walmart Supercenter, Lowe’s, The Home Depot, Target, Kroger, Sprouts Farmers Market, Aldi, Kohl’s, Planet Fitness, Office Depot, Jiffy Lube, T-Mobile, McDonald’s, Panera Bread, Outback Steakhouse, Chick-fil-A, Firehouse Subs, Raising Cane’s, Starbucks, 7-Eleven, CVS and many more.

Broker of Record

Tim Speck
Lic #: 9002994

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