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219 Sunset Avenue

219 Sunset Avenue, Dallas, Dallas County, Texas 75208

Price:  Market


Cap Rate:  6.48%


Building Size:  17,780


Occupancy:  100%


Lot Size:  0.88 AC / 38,500 SF


Zoning:  Commercial


Debt:  Free & Clear


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Highlights

  • Excellent service oriented center located in trophy infill market within the Bishop Arts District in Dallas, Texas. Located just north of W. Jefferson Boulevard, 219 Sunset is a once-in-a-generation opportunity at the heart of Bishop Arts.
  • Rare value-add opportunity within the urban core that provides significant upside through redevelopment or pushing of rental rates at expiration.
  • Both tenants reimburse fully for all NNN expenses and provide new ownership with significant upside potential through the increase of market rents at expiration. Average rates at the Property today are a staggering low $15.50 PSF. Market rental rates today are in the mid $20’s + NNN, with significant future growth projected.
  • Offering consists of 17,780 SF of improvements and over 0.88 AC of land.
  • Aids Arms (116-A) provides investors with nearly six (6) years of term, reimburses fully for NNN’s, includes a $0.50 PSF rent increase on March 1, 2020 and one (1) five-year renewal option at FMV. Tenant has called 219 Sunset home since December 1999 (20 years) and would like to expand if the opportunity arises.
  • First Step Counseling (101-B) also has nearly six (6) years of term remaining, reimburses for all NNN expenses, includes a $1.00 PSF rent increase on March 1, 2020 and boasts two (2) five-year renewal options at FMV.
  • Excellent visibility and accessibility with ample parking and a parking ratio of over 3.66 per 1,000.
  • Limited management required, making 219 Sunset perfect for investors of all levels.
  • Strategically positioned south W. Davis Street, just north of W. Jefferson Boulevard and along Zang Boulevard, 219 Sunset enjoys unmatched accessibility to these three dominant thoroughfares.
  • Convenient access to Downtown Dallas, Bishop Arts District and Trinity Groves, as well as, proximity to countless multi-family developments, office and boutique retail properties.
  • Approximately 152,860 to 373,786 residents within a 3 & 5 mile radius.
  • 4,786 and 16,818 businesses with 69,582 and 291,129 employees within a 3 & 5 mile radius of the Property.

Description

DB2RE INVESTMENT SALES is proud to offer qualified investors Sunset Avenue (“Property”), located at 219 Sunset Avenue within the coveted Bishop Arts District in Dallas, Texas. Totalling 17,780 SF on 0.88 AC, the investment boasts a centralized infill location within the dense Bishop Arts corridor. Currently, the Property is 100% occupied by long-serving tenants such was Aids Arms (74.32% of Property / December 1999) and First Step Counseling (25.68% of the Property / November 2015). Investors will enjoy extremely stable cash flow and significant upside potential through future repositioning efforts and/or increasing rental rates to market (Property averages $15.50 PSF) upon Tenants expiration or at renewal. Anchored by two long-serving medical tenants backed by the State of Texas and who have called Sunset Avenue home for an average of 22 years, the offering is perfect for investors of all experience levels. Strategically located one block north of W. Jefferson Blvd and south of W. Davis Street, the Property enjoys unbeatable positioning within the Bishop Arts District, one of Texas’s most sought after commercial corridors. Bolstered by its proximity within a high-barrier / high-growth market, investors will enjoy an excellent stabilized investment with great growth potential for generations to come.

Location

219 Sunset Avenue

219 Sunset Avenue, Dallas, Dallas County, Texas 75208

219 Sunset Avenue

Contact Us About this Property

Cameron Deptula

Investment Sales
TREC #622382

214.526.3626 ext. 116
CDeptula@db2re.com

J. Scott Lake

Partner - Urban
TREC #618506

214.526.3626 ext. 108
SLake@DB2RE.com

Jake Milner

Partner - Urban
TREC #647114

214.526.3626 ext. 109
JMilner@DB2RE.com