1304 SUMMIT AVE (PLANO)

MULTI TENANT

1304 SUMMIT AVENUE, PLANO, TX 75074
Price :
$ 2,550,000
Cap Rate :
6.06%
NOI :
$ 154,556
Lot Size :
2.34 acres
Year Built :
1981
Property Area :
24,464 sqft
Status :
AVAILABLE
MARKETING PACKAGE

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

Investment Highlights

  • 24,464-Square Foot Office/Warehouse Building on 2.34 Acres
  • Features 14’-18’ Clear Heights, Fenced Outside Storage, and New HVAC Units
  • Easy Access to I-75 and President George Bush Turnpike
  • 17 Drive-In Docks and Ample Parking with 73 Spaces
  • Zoned Light Industrial-1

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire 1304 Summit Avenue in Plano, Texas. The subject property consists of approximately 24,464 square feet and is situated on approximately 2.34 acres of land. Built in 1981, the subject property features 14’-18’ clear heights, fenced outside storage, 17 drive-in docks, 73 parking spaces, and new HVAC units. The asset provides for easy access to Interstate 75 and President George Bush Turnpike.

With a 2018 population of over 279,000, Plano is a global business center home to six Fortune 1,000 headquarters. The city was named 3rd ‘Best Place to Live in America’ by Money Magazine. Plano is 30 minutes from the Dallas/Fort Worth International Airport, with public transit and light rail. Local business incentives include cash grants, tax abatement, and freeport exemption. Top companies in the area include J.C. Penney, Dr. Pepper Snapple Group, Ericsson, Frito-Lay, and Rent-A-Center.

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 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 21 Fortune 500 companies and many regional headquarters, drawing workers and residents. The areas 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. © 2018 Marcus & Millichap. All rights reserved. (Activity ID: Z0060816)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916

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