north dallas medical condo...subject property price/sf/yr space sf north dallas medical condo 8305...
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NORTH DALLASMEDICAL CONDO8305 WALNUT HILL STE. 125DALLAS, TX 75231
Steve Fithian, CCIM, CPM, SECManaging [email protected] #0407418
SVN | TRINITY ADVISORS | 3000 RACE STREET, SUITE 100, FORT WORTH, TX 76111 OFFERING MEMORANDUM
Demographics Report Demographics Map
ADVISOR BIO 25Advisor Bio & Contact Back Page
PROPERTY INFORMATION 3Property SummaryComplete HighlightsAdditional PhotosAdditional Photos
LOCATION INFORMATION 8Regional MapLocation MapsAerial Map
SALE COMPARABLES 12Sale CompsSale Comps SummarySale Comps Map
RENT COMPARABLES 17Rent CompsRent Comps SummaryRent Comps Map
DEMOGRAPHICS 22
OFFERING MEMORANDUMNORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125, DALLAS, TX 75231
1 PROPERTYINFORMATION
8305 Walnut Hill Ste. 125Dallas, TX 75231
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 3
OFFERING SUMMARY
Sale Price: $158,500
Lot Size: 0 Acres
Year Built: 1972
Building Size: 1,466 SF
Zoning: PD-76 (Medical Park)
Market: North Dallas
Submarket: Woodhill Medical Park
Price / SF: $108.12
Walnut Hill, Suite 125, consists of 1,466 Square Feet on the 1st floor of the 8305 Medical Office building within WoodhillMedical Park– a 5 building Medical Office Condo project. The Suite has historically been used as a Dentist’s office butcould be easily tailored to other uses. The HOA is healthy and maintains the property immaculately. They also provideblanket insurance, paid utilities, housekeeping 5 days/week, grounds maintenance, onsite 24-hour security, and access toa full gym, indoor pool, and sauna.
PROPERTY OVERVIEW
The property lies just ½ mile from Texas Health Presbyterian Hospital, Royal Oaks Country Club, and US -75. The propertyis within 1 - 3 miles of Medical City Dallas Hospital, Texas Instruments, and amenities such as NorthPark Center, The Shopsat Park Lane, Top Golf, Target, The Cheesecake Factory and more.
LOCATION OVERVIEW
Property Summary
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
SALE HIGHLIGHTS
• 1,466 SF Class B Medical Office in a well maintained and mature medical area.
• First- floor condo situated in one of the most desirable locations of North Dallas.
• Spacious reception area, 3 large offices, 2 smaller offices, 1 large laboratory, 1
smaller laboratory, private office, restroom & 2 storage closets.
• The flexible floor plan offers several layout options for office/medical use.
• Amenities include 24-hour on-site security, blanket insurance, paid utilities,
housekeeping 5 days/week, grounds maintenance, a full fitness center including
an indoor pool and sauna.
• The condo overlooks a well-landscaped area that provides natural lighting.
• A 5-minute walk from the Walnut Hill DART Station, which provides easy access
to Downtown as well as the rest of the DART network, including the DFW airport.
• Located directly across from Presbyterian Hospital of Dallas Texas Health
Resources.
• Easily accessible to N. Central Expressway and I- 635
• Adjacent to Texas Health Presbyterian Hospital and Royal Oaks Country Club
• Existing layout great for dentists, but easily convertible to any medical office
use
Complete Highlights
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Additional Photos
* All personal property and medical equipment has been removed.
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Additional Photos
2 LOCATIONINFORMATION
8305 Walnut Hill Ste. 125Dallas, TX 75231
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 8
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
North Dallas Medical Condo
Regional Map
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 10The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Location Maps
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 11The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
North Dallas Medical Condo
Aerial Map
4 SALECOMPARABLES
8305 Walnut Hill Ste. 125Dallas, TX 75231
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 12
SUBJECT PROPERTY
8305 Walnut Hill Ste. 125, Dallas, TX 75231
$158,500Sale Price: 1972Year Built: 1,466 SFBuilding SF:
$108.12Price PSF:
1
8335 WALNUT HILL LN
Dallas, TX 75231
$742,200Sale Price: 1974Year Built: 7,472 SFBuilding SF:
$99.33Price PSF:
1
2
PRESTON TRAIL OFFICE PARK - BUILDING 4
6220 Campbell Road | Dallas, TX 75248
$560,000Sale Price: 2005Year Built: 2,300 SFBuilding SF:
$243.48Price PSF:
2
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 13The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Sale Comps
3
CAMPBELL MEDICAL PARK
1060 W Campbell Rd | Richardson, TX 75080
$294,996Sale Price: 1,033 SFBuilding SF: $285.57Price PSF:
3
4
DEXTER PROFESSIONAL PARK BLDG 7
4700 Dexter Drive | Plano, TX 75093
$792,870Sale Price: 2006Year Built: 2,782 SFBuilding SF:
$285.00Price PSF:
4
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 14The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Sale Comps
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 15The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
1
2
3
4
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF
North Dallas Medical Condo8305 Walnut Hill Ste. 125Dallas, TX 75231
$158,500 1,466 SF $108.12
SALE COMPS PRICE BLDG SF PRICE/SF
8335 Walnut Hill LnDallas, TX75231
$742,200 7,472 SF $99.33
Preston Trail Office Park - Building 46220 Campbell RoadDallas, TX 75248
$560,000 2,300 SF $243.48
Campbell Medical Park1060 W Campbell RdRichardson, TX 75080
$294,996 1,033 SF $285.57
Dexter Professional Park Bldg 74700 Dexter DrivePlano, TX 75093
$792,870 2,782 SF $285.00
PRICE BLDG SF PRICE/SF
Totals/Averages $597,517 3,397 SF $175.90
Sale Comps Summary
8305 Walnut Hill Ste. 125, Dallas, TX 75231SUBJECT PROPERTY
1 Dallas, TX75231
8335 WALNUT HILL LN2
6220 Campbell RoadDallas, TX 75248
PRESTON TRAIL OFFICE PARK -BUILDING 4 3 1060 W Campbell Rd
Richardson, TX 75080
CAMPBELL MEDICAL PARK4
4700 Dexter DrivePlano, TX 75093
DEXTER PROFESSIONAL PARKBLDG 7
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 16The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Sale Comps Map
5 RENTCOMPARABLES
8305 Walnut Hill Ste. 125Dallas, TX 75231
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 17
SUBJECT PROPERTY
8305 Walnut Hill Ste. 125, Dallas, TX 75231
1972 Space Size: 1,466 SF Year Built:
1
LA SIERRA OFFICE BLDG
5445 La Sierra Dr | Dallas, TX 75231
1,455 SFSpace Size: 1983Year Built:Lease Rate: $22.00 / SF / Year
06/05/19Lease Date:
1
2
GREENVILLE MEDICAL TOWER
7150 Greenville Ave | Dallas, TX 75231
1,257 SFSpace Size: 1985Year Built:Lease Rate: $21.00 / SF / Year
05/02/18Lease Date:
2
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 18The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rent Comps
3
LAKESIDE VILLAGE SHOPPING CENTER
9669 N Central Exp | Dallas, TX 75231
1,455 SFSpace Size: 1987Year Built:Lease Rate: $22.00 / SF / Year
01/18/18Lease Date:
3
4
GLEN LAKES HEALTH PLAZA
9900 N Central Expy | Dallas, TX 75231
1,423 SFSpace Size: 1981Year Built:Lease Rate: $22.00 / SF / Year
05/30/19Lease Date:
4
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 19The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rent Comps
1
2
3
4
SUBJECT PROPERTY PRICE/SF/YR SPACE SF
North Dallas Medical Condo8305 Walnut Hill Ste. 125Dallas, TX 75231
1,466 SF
RENT COMPS PRICE/SF/YR SPACE SF
La Sierra Office Bldg5445 La Sierra DrDallas, TX 75231
$22.00 1,455 SF
Greenville Medical Tower7150 Greenville AveDallas, TX 75231
$21.00 1,257 SF
Lakeside Village Shopping Center9669 N Central ExpDallas, TX 75231
$22.00 1,455 SF
Glen Lakes Health Plaza9900 N Central ExpyDallas, TX 75231
$22.00 1,423 SF
PRICE/SF/YR SPACE SF
Totals/Averages $21.75 1,398 SF
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 20The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rent Comps Summary
1 5445 La Sierra DrDallas, TX 75231
LA SIERRA OFFICE BLDG2 7150 Greenville Ave
Dallas, TX 75231
GREENVILLE MEDICAL TOWER3
9669 N Central ExpDallas, TX 75231
LAKESIDE VILLAGE SHOPPINGCENTER 4 9900 N Central Expy
Dallas, TX 75231
GLEN LAKES HEALTH PLAZA
8305 Walnut Hill Ste. 125, Dallas, TX 75231SUBJECT PROPERTY
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 21The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rent Comps Map
6DEMOGRAPHICS
8305 Walnut Hill Ste. 125Dallas, TX 75231
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 22
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 23The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
1 MILE 3 MILES 5 MILES
Total population 16,996 150,955 370,701
Median age 32.0 35.9 35.4
Median age (male) 31.6 35.3 34.9
Median age (female) 32.6 36.6 35.8
Total households 7,256 68,721 159,007
Total persons per HH 2.3 2.2 2.3
Average HH income $54,525 $93,684 $102,593
Average house value $252,322 $426,604 $393,271
* Demographic data derived from 2010 US Census
Demographics Report
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 24The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
POPULATION 1 MILE 3 MILES 5 MILES
Total population 16,996 150,955 370,701
Median age 32.0 35.9 35.4
Median age (Male) 31.6 35.3 34.9
Median age (Female) 32.6 36.6 35.8
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 7,256 68,721 159,007
# of persons per HH 2.3 2.2 2.3
Average HH income $54,525 $93,684 $102,593
Average house value $252,322 $426,604 $393,271
* Demographic data derived from 2010 US Census
Demographics Map
7 ADVISOR BIOS8305 Walnut Hill Ste. 125
Dallas, TX 75231
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 25
3000 Race Street, Suite 100Fort Worth, TX 76111T 817.288.5524C [email protected] #0407418
PROFESSIONAL BACKGROUND
Steve Fithian serves as Senior Advisor and Managing Director for SVN | Trinity Advisors. With over 30 years ofcommercial real estate experience, Fithian specializes in selling and overseeing investment property sales that includemultifamily, mini-warehouse, office, retail, undeveloped land and finished lots. He also organizes, manages, and acts asthe general partner in property partnerships.
Fithian holds the designation of Certified Commercial Investment Member (CCIM) and is the former chairperson of theNorth Texas Chapter CCIM Membership Committee. In 2011, he was named a counselor to the Society of ExchangeCounselors. The Society of Exchange Counselors is a marketing group consisting of approximately 100 investmentbrokers from various parts of the country who have proven their skills at solving clients' problems.
Fithian also is a member of the Texas Association of REALTORS where he was appointed a member of the 2004Regulatory & Private Property Rights Task Force. In addition, he is a member and former chairman of the Society ofCommercial REALTORS in Fort Worth. In 2008, he received the Charles D. Tandy Commercial REALTOR of the Year Award,which is given by the Society of Commercial REALTORS to the REALTOR who best exemplifies the highest professionalstandards for commercial real estate. In 2002, he was awarded the William C. Jennings Award for CommercialTransaction of the Year in Texas by the Texas Association of REALTORS. Fithian has also received several sales awardsfrom SVN including Partner's Circle awards in 2005, 2006, and 2014, and the Achiever's Award in 2007, 2008, 2009 and2010.
Fithian is a licensed broker in Texas and California, and is a certified public accountant. Additionally, he earned aBachelor of Arts in economics with an emphasis in accounting from Claremont McKenna College.
STEVE FITHIAN, CCIM, CPM, SEC
Managing Director
NORTH DALLAS MEDICAL CONDO | 8305 WALNUT HILL STE. 125 DALLAS, TX 75231 SVN | Trinity Advisors | Page 26The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Advisor Bio & Contact
All SVN® Offices Independently Owned & Operated | 2019 All Right Reserved
3000 Race Street, Suite 100Fort Worth, TX 76111
817.288.5524svntrinity.com