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Comerica, Methodist, Jimmy John's, UPS Store 1222 N Bishop Ave 15,388 SF 100% Leased 4-Star Retail Building Dallas, TX 75208 $15,788,497 CAD ($1,026.03 CAD/SF) 5.35% Cap Rate



Investment Highlights
- Irreplaceable Generational Retail Asset
- Full Masonry, Shallow Bay Depth, Significant Parking, Hard Corner Positioning & Drive Thru End Cap
- 4 of 5 Tenants Have Annual Rent Escalations & All Tenants Options are at Market Rents
- Located In Bishop Arts District Across from Methodist Dallas Medical Center (400+ Bed Hospital)
- Total Daytime Population Exceeds 548,300 in a 5-Mile Radius
- Future Potential Covered Land Play Development Site of 1.96 Acres in Urban Core Location
Executive Summary
Comerica Bank, Methodist, Jimmy John's, Gupta Smile Studio, & UPS Store is a 15,388 square foot irreplaceable multi-tenant retail center located at the signalized intersection of Colorado Boulevard and Bishop Avenue, across the street from Methodist Dallas Medical Center (400+ beds), and in close proximity to Dallas Central Business District, Design District, Bishop Arts District and Uptown. Southwest Dallas is one of the energetically growing regions in DFW with numerous areas of activity. Particularly, Bishop Arts has approximately $350 million in planned and ongoing development which includes over 1,500 new residential units, 84,000 SF of retail, and 112,000 SF of office. Bishop Avenue will double in size and more than 2 acres of walkable outdoor space/over 700 parking spaces will be added. Additionally, Bishop Arts Station (NWC & SWC of Davis & Zang) is a recently completed mixed-use development that includes 215 apartment units and 21,500 SF of retail/restaurant on the ground floor. North of Comerica Bank, Methodist, Jimmy John's, Gupta Smile Studio & UPS Store is the flourishing Trinity Groves district and the $50 million Sylvan Thirty development. In all, approximately 3,000 units have been constructed or planned for development in that area. Currently over 387,000 people live within a 5-mile radius. Notable retailers in the Bishop Arts District are Village Baking Co., Lucia, Dude Sweet Chocolate, Encina and Hugo’s Seafood Bar, amongst others.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
15,388 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2009
Price
$15,788,497 CAD
Price Per SF
$1,026.03 CAD
Cap Rate
5.35%
NOI
$844,704 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
1.96 AC
Zoning
LO3 Comm/Restl
Parking
80 Spaces (5.2 Spaces per 1,000 SF Leased)
Frontage
267’ on Bishop Ave
Amenities
- Restaurant
- Signage
- Air Conditioning
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 003363000M01A0000 | Improvements Assessment | $2,618,505 CAD |
| Land Assessment | $4,680,310 CAD | Total Assessment | $7,298,816 CAD |
Property Taxes
Parcel Number
003363000M01A0000
Land Assessment
$4,680,310 CAD
Improvements Assessment
$2,618,505 CAD
Total Assessment
$7,298,816 CAD
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Comerica, Methodist, Jimmy John's, UPS Store | 1222 N Bishop Ave
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