DB2RE Properties
Davidson Bogel Real Estate

Dooley Commons

204 N. Dooley Street, Grapevine, Tarrant County, Texas 76051

Price:  $5,200,000


Cap Rate:  Market


Building Size:  26,650


Occupancy:   Single-tenant (NNN)


Lot Size:  2.90 AC / 126,549 SF


Zoning:  CC Commercial


Debt:  Free & Clear


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Highlights

  • Excellent service oriented center located in trophy infill market within Grapevine, Texas. Located just north of Northwest Highway (Highway Bypass 114), the Property is just seconds away from Historic Downtown Grapevine and Main Street.
  • Offered well below replacement cost, Dooley Commons provides investors / owner-users an affordable option to enter this high-barrier market at the cost of $195 PSF to the building and $41 PSF to the land.
  • Offering consists of two (2) single-tenant assets totaling 26,650 SF on over 2.90 AC within high-barrier market: 24,000 SF (Building 1) and 2,650 SF (Building 2). The 24,000 SF is in move-in ready condition by the end of June 2019.
  • Suite 200 is a long-serving tenant paying well below market and boasts two (2) five-year options at FMV. With less than two (2) years remaining on the current term, new ownership will be able to push rents on this space (9.95% of the portfolio) within the short-term.
  • Excellent visibility and accessibility with ample parking and a parking ratio of over 5.10 per 1,000. Its strategic positioning along N. Dooley Street (main north-south thoroughfare connecting Grapevine Lake to Northwest Highway.
  • Completely renovated in 2005 for the previous Tenant, Dooley Commons is a terrific investment with modern design characteristics and amenities.
  • Limited management necessary and virtually zero capital improvements needed.
  • Convenient access to numerous traffic generators that includes: DFW International Airport, Grapevine Lake, Gaylord Texan Resort, Great Wolf Lodge, Bass Pro Shop, Grapevine Mills Mall, Historic Downtown Grapevine / Main Street.
  • Approximately 36,150 to 108,164 residents with average household incomes at a staggering $96,767 and $143,055 within a 3 & 5 mile radius.
  • 3,059 and 6,622 businesses with 81,473 and 164,108 employees within a 3 & 5 mile radius of Dooley Commons.

Description

DB2RE INVESTMENT SALES is proud to offer qualified investors and owner-users Dooley Commons (“Property”), located at 204 N. Dooley Street, just north of E. Northwest Highway / Highway Bypass 114 in Grapevine, Texas. Offered well below replacement cost at $41 PSF to the land, the Property totals 26,650 SF on 2.90 AC and boasts two (2) assets within the dense Grapevine market. Upon expiration of the current Tenant (Novus Academy), the Property will have 24,000 SF (90.05% of portfolio) available for lease-up. The Property can be purchased by a value-add investor or the future Tenant. Building 1, 24,000 SF (90.05% of the Property) was previously leased to Novus Academy, who will be vacating at the end of June. Building 2, 2,650 SF (9.95% of the Property) is 100% occupied by Environmental Processing Systems “EPS”, a terrific long-serving tenant since 2012. Dooley Commons provides new ownership or owner-users with a rare, 24,000 SF of move-in ready / second generation space with significant existing improvements. The available space can be bifurcated or leased as a single-tenant asset. With a parking ratio of over 5.10 per 1,000 and due to its proximity to surrounding businesses and the Grapevine and Westlake neighborhoods, Dooley Commons is the perfect investment and solution to enter this high-growth, high-barrier market. Other notable and nearby economic generators include: DFW International Airport, Gaylord Texan Resort, Great Wolf Lodge, Historic Downtown Grapevine / Main Street and Grapevine Lake, among others.

Location

Dooley Commons

204 N. Dooley Street, Grapevine, Tarrant County, Texas 76051

Dooley Commons

Contact Us About this Property

Cameron Deptula

Cameron Deptula

Investment Sales
TREC #622382

214.526.3626 ext. 116
CDeptula@db2re.com