2455 Ridge Rd, Rockwall, TX 75087
2455 Ridge Rd, Rockwall, TX 75087
$17,250,000
Request info
Basics
- Price per sqft: $316
- Date added: Added 1 year ago
- Category: Shopping Center
- Area: 54521 sq ft
Description
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Description:
INVESTMENT HIGHLIGHTS
- Texas is an Income Tax Free State
- 11% of Leases are Gross Leases Allowing a New Buyer Ability to Convert to Gross NNN Leases in the next 18 months
- Property Consists of Two Buildings, Offering the Opportunity to Convert the Front Building to Single Tenant or Sell as Outparcel
- Strong Mix of National, Regional and Local Tenants Including: Children's Health, Geico Insurance, The House of Gyros, Papa Murphy’s, Wing Stop
- Existing Tenants are Paying Below Market Rents at an Average of $22 PSF - Market Rental Rate is at $26.65 PSF with a 1.7% Vacancy Rate
- 22 Tenants Can Provide For a Diversified Mix of Rental Increases/More Stability
EXECUTIVE SUMMARY
Sands Investment Group is Pleased to Exclusively Offer For Sale the 52,500 SF Ridge Road Towne Center Located at 2455 Ridge Road in Rockwall, TX. The Deal Has 11% of Gross Leases Allowing a New Buyer Ability to Convert to Gross Triple Net (NNN) Leases in the Next 18 Months, Providing For a Secure Investment.
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PROPERTY FACTS
Sale TypeInvestmentProperty TypeBuilding Size54,521 SFBuilding ClassBYear Built/Renovated2005/2022Price$17,250,000Price Per SF$316Cap Rate6.56%NOI$1,130,949Percent Leased96%TenancyMultipleBuilding Height1 StoryBuilding FAR0.16Land Acres7.68 ACZoningCommParking122 Spaces (2.24 Spaces per 1,000 SF Leased)Frontage248 FT on Vigor way
Building Details
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