Investment Office for Sale
24,000 Sqft - 407 N. Cedar Ridge Drive, Duncanville, Texas 75116
Mote & Associates is pleased to offer the opportunity to acquire a +/-24,000 SF fully leased multi-tenant office building located in Duncanville, TX.
Property is 100% occupied and currently split into 22 suites. Tenants include Primerica Financial Services, Allstate Jeff Callens Agency, Law offices or Chris Garcia, Power Plumbing Inc., plus many others. Tenants are on full service gross leases, many with base year expense reimbursements.
Property features include wrap around parking with 98 parking spots, 2 monument signs, a lobby elevator, off-site controlled air conditioning system, key code controlled rear entry for after-hours access with automatic locking main entry, fire alarm system and fire sprinkler system, and a 60 mil TPO roof replaced in 2018. Property is centrally located only +/-1.5 miles to Interstate 20, +/-3.0 miles to Highway 67, +/-7.3 miles to Interstate 35E, and +/-9.1 miles to TX-360.
Duncanville is located Southwest of Dallas, also known as “Best Southwest,” which includes Duncanville, Cedar Hill, DeSoto, and Lancaster. Per CoStar, “At 10.6% vacancies in Southwest Dallas are near all-time lows, tracking well below the Dallas market average. Despite a slow down in growth in the past year, rent growth has generally outperformed the metro average over the past few years. Until recently, vacancy rates have rested near record lows. That changed with the completion of 315,000 SF in the newly redeveloped Red Bird Mall. As of 21Q2, the building is 100% leased. Southwest Dallas’s vacancy rate compares favorably to submarkets with a similarly heavy concentration of 1 & 2 Star and 3 Star inventory, such as Grand Prairie and Garland.”