Back to Listings
Dallas, TX

8777 Governors Row

Address:
8777 Governors Row, Dallas, TX 75247
Property Type:
Single Tenant
Price:
$1,100,000
Cap Rate:
7.04% cap
NOI:
$77,460
Square Feet:
11,475 sqft
Lot Size:
0.8 acres
Price Per Square Foot:
$95.86
Year Built:
1963
Links
* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

• 11,475-Square-Foot Industrial Warehouse Situated on 0.8 Acres with Fenced/Paved Lot Providing Space for Equipment and Storage
• Masonry Construction with Attractive Exterior; One Grade Door; New Roof Over Office Space in 2019
• 2,500 Square Feet of Office Space with Breakroom and Kitchenette
• Short-Term Six-Month Leaseback Upon Close; Owner-User or Re-Lease Opportunity
• Current Owner-User is ServPro of Richardson: Residential and Commercial Restoration and Cleaning Services
• Located in West Brookhollow with a Market Vacancy of 7.1%
• Fantastic Location Off John W Carpenter Freeway, Near Intersection with Stemmons Freeway

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 8777 Governors Row in Dallas, Texas, leased to Servpro of Richardson. The subject property consists of approximately 11,475 square feet of space and is situated on 0.8 acres of land with a fenced/paved lot providing space for equipment and storage. The asset features masonry construction with an attractive exterior, one grade-level door, and the seller reports a new roof over the office space installed in 2019. Featuring a breakroom and kitchenette, there is 2,500 square feet of office space. The current owner-user is Servpro of Richardson, providing residential and commercial restoration and cleaning services. The tenant is committed to a short-term, six-month leaseback upon close, offering an attractive owner-user or re-lease opportunity. The subject property is located in West Brookhollow with a market vacancy of 7.1 percent and off John West Carpenter Freeway near the intersection with Stemmons Freeway.

West Brookhollow is between the Dallas CBD and the Dallas/Fort Worth International Airport. The submarket is split by Texas State Highway 183, which connects to several highways traveling in all directions through the Metroplex. Most buildings lack the specifications necessary for modern distribution or e-commerce operations. Therefore, manufacturers, suppliers, or local distributors will continue to drive demand. Vacancy rates in West Brookhollow have historically been tight due to a complete lack of new supply with stable tenants. The supply outlook is muted, and there are still plenty of developable sites in nearby submarkets, making it unnecessary to redevelop existing assets here. Due to low vacancies, rent growth will likely continue to outperform the 10- year average for the next few years. (CoStar)

The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.1 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 800,000 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 metros 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 21 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.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0061030)