1210 Industrial Drive
- 1210 Industrial Drive, Royse City, TX 75189
- Property Type:
- Single Tenant
- Cap Rate:
- 8.31% pro-forma cap
- Square Feet:
- 30,622 sqft
- Lot Size:
- 0.92 Acres
- Price Per Square Foot:
- Year Built:
- 30,622-Square-Foot Industrial Warehouse Situated on 0.92 Acres
- Single-Tenant or Owner-User Opportunity to Own in a Tight Barrier-to-Entry Market
- Recent Renovations to Office and Warehouse in February 2023
- Roof Replacement Three Years Ago, Reducing Near Term Expenses
- Submarket Rent Growth Up Over 10% Annually (CoStar)
- Located Just Off Interstate 30 for Easy Access
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1210 Industrial Drive in Royse City, Texas. The subject property consists of approximately 30,622 square feet of warehouse space and is situated on 0.92 acres of land. The single-tenant asset features a clear height of 18’, two grade-level doors, and three-phase power. Both the warehouse and office spaces were renovated in February 2023. The seller reports the metal roof was recently replaced in 2020, helping to reduce near-term maintenance expenses. For sale as vacant, the property can be acquired as an investment or for owner use. With easy access to Interstate 30, the property is situated less than 34 miles from downtown Dallas.
The subject property is located in Rockwall, a fast-growing Dallas submarket with 5.9 million square feet of industrial space. Over the last decade, 2 million square feet of industrial space was delivered in Rockwall, expanding the inventory by 51 percent. In recent years, companies like Channel Commercial, Pratt Industries, and Pegasus Foods have established locations in Rockwall, bringing hundreds of manufacturing and distribution jobs to the area. Sitting 430 basis points lower than the overall market average, Rockwall featured one of the lowest vacancy rates at 2.2 percent during the first quarter of 2023. Like most submarkets, rent growth has slowed down in recent quarters, but tight supply helped push rents up another 10.3 percent annually in Q1. New construction is set to expand the local inventory by 10.5 percent. However, most of the new builds in Rockwall are delivered as build-to-suits, which means vacancies and rent growth will largely be unaffected by the new supply. Despite the recent growth, few transactions occur within the submarket as properties rarely become available (CoStar).
The Dallas-Fort Worth metroplex is the fourth-most populous metro in the nation, with an aggregate of more than 7.7 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 919 thousand residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the region’s transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metro’s numerous corporations and growing industries. Dallas/Fort Worth’s population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 24 Fortune 500 companies and many regional headquarters, drawing workers and residents. The area’s extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.