Stampede Crossing II
Closed3341 Regent Blvd, Irving, TX 75063
Property type
Retail
Price
$5,900,000
Building size
13,246 sf
Rentable area
13,246 SF
Year built
2017
Year renovated
Occupancy
Zoning code
Lot size
1.89 Acres
Sold/status
Sold · Date unknown
Sale price
$5900000
CAP
6.36%
Net Operating Income
$374,999
Property description
Franklin Street is pleased to present Stampede Crossing Phase II in Irving, Texas less than a mile from DFW International Airport and in the Las Colinas mixed-use planned community development. DFW International Airport is now the 2nd busiest airport in the world for passenger traffic with 62.5M passengers in 2021, and acts as a hub for American Airlines. Due to Las Colinas central location between Dallas and Fort Worth and its proximity to DFW International Airport and Dallas Love Field airport, Las Colinas has been a focus of corporate and business relocation. It has many corporate office and retail spaces, luxury hotels, townhomes, single-family homes, private country clubs, gated enclaves, urban lofts, parks, landscaped water courses, and its own light-rail transit system. The Dallas-Fort Worth Metroplex is the fourth largest MSA in the country with over 7.6M residents and growing rapidly. Stampede Crossing is a street-front retail center facing I-635, which has 130,000+ cars a day passing the center and 445,113 residents within a 15-minute drive of the property. The property was constructed in 2017 and has a stable rent roll with all tenants having 5+ years remaining on their leases. The center has a strong mixture of daily needs tenants, as well as service tenants generating consistent traffic to the property. Both valuable end-cap spaces are occupied by restaurants with outdoor dining options. Creating additional traffic to the property is the strong cross-access among connecting properties, which allows the property to benefit from adjacent traffic generators: RaceTrac, Starbucks, Panda Express, Jimmy John's, Slim Chickens, Taco Bell, PIN STACK, among others. The rent roll offers an investor stable cash flow with replaceable rents, as much of the surrounding shop space retail rents are in the mid to upper $30s PSF. The neighborhood of Las Colinas requires appealing upgraded architecture design built to last and the center has a concrete parking lot that requires substantially less maintenance.
Property highlights
- 13,246 SF Street-front retail center in the Dallas-Fort Worth Metroplex
- Stable rent roll with all tenants having 5 Years or more remaining on their initial lease terms
- Cohesive tenant mix of restaurants and service tenants within the center
- Excellent cross accessibility amongst the adjacent properties and visibility from the Interstate with 131,000+ VPD
- Booming Dallas-Fort Worth leads U.S. in metro population growth from 2020-2021
- Replaceable rents across the rent roll
- Pro-Business environment with no state income tax
- Located next to DFW International Airport: the World's 2nd busiest airport