Office Complex for Sale

14,796 Sqft - 320 W. Belt Line, Cedar Hill, Texas 75104

QR Code
Property Description

Mote & Associates is pleased to offer the opportunity to acquire a +/-14,796 SF fully leased multi-tenant office complex sitting on +/-1.26 acres located in Cedar Hill TX. Contact listing agent for property financials.

Property is 100% occupied and currently split into 15 suites. Current cap rate is 6.21%, pro forma is estimated at 7.25% Tenants include Independence Title, Allstate Insurance Les Dixon, Preston Wood Pediatrics, Edward Jones, and many others. Tenants are on a mix of modified gross leases, many tenants pay HVAC expenses and electricity reimbursements.

Upside in renewing long term tenants that are paying under market rates and switching out the outdated leases to new leases that have expense reimbursements built in, plus shifting interior maintenance responsibilities to tenants. Seller has been very generous with many of the long term tenants and have let them go month to month without raising their lease rates for several years, which are now below market rate. Mote and Associates has leased several of the suites at a much higher lease rate than leases that the seller have put in place.

Property features include wrap around parking with 62 parking spots, 3 monument signs on Belt Line, and lush landscaping. Property is located in/near the Uptown/Old Town districts and in Cedar Hill’s major retail hub with retailers such as Hillside Village Mall (Barnes & Noble, Dillards, Ulta, Old navy, & others) Sprouts, Specs, Best Buy, Target, Walmart, Kroger, Albertsons, plus many others . Property is only +/-0.4 miles to Highway 67. Over 1.3 million square foot industrial development going just a few miles south on highway 67 in Cedar Hill, showing strong corporate interest in the area.

Cedar Hill is located Southwest of Dallas, also known as “Best Southwest,” which includes Duncanville, Cedar Hill, DeSoto, and Lancaster. 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.

Basic Details
Property Type : Office Lease
Listing Type : For Sale
Listing ID : 1235
Price : $2,600,000
View : Street
Year Built : 2003
Lot Area : 14,796 Sqft
Address Map
Country : US
State : TX
City : Cedar Hill
Zipcode : 75104
Street : W. Belt Line
Street Number : 320
Floor Number : 0
Longitude : W97° 2' 49.3''
Latitude : N32° 35' 22.8''
Office Lease For Sale
  • Listing ID : 1235
  • Lot Area : 14,796 Sqft
$2,600,000
Agent info
Justin Clark
Mote & Associates
515 N. Cedar Ridge, Suite 9, Duncanville, Texas
Attachments
Contact Agent