$7,000,000
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2.08 Acres Lot
SOLD DATE : 07/07/2022
Key Details
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Subdivision Na
MLS Listing ID 20014692
Sold Date 07/07/22
Total Fin. Sqft 23580
Year Built 2020
Lot Size 2.083 Acres
Acres 2.083
Property Sub-Type Office
Property Description
This single tenant build-to-suit office building was complete in late 2020. The building currently houses a single tenant (BPS.Technology) with 5 years of primary lease term remaining and three 5-year renewal options. The tenant is responsible for all taxes, insurance, and common area maintenance costs associated with the property. The tenant has signed a lease that is generating $372,000 in base rental income. We are currently offering this investment on a 5.314% capitalization rate off of in-place rental income ($7,000,000).BPS Technology is a privately held energy technology and intellectual property firm with annual revenue of approximately $20 MM per year. This is the only BPS Technology office and currently serve as their mission critical headquarters facility.
Location
State TX
County Denton
Zoning Medical OfficeProfessional Office RetailLaboratory/ ResearchLight Industrial
Direction On the corner of 377 and FM 407 behind the CVS.
Interior
Heating Electric
Cooling Multi Units
Flooring Concrete, Painted/Stained
Heat Source Electric
Exterior
Utilities Available City Sewer, City Water, Electricity Connected, Individual Gas Meter, Individual Water Meter, Phone Available, Private Road
Roof Type Flat,Synthetic
Garage No
Building
Foundation Slab
Structure Type Concrete,Tilt Wall
Others
Ownership Argyle 377 Investments LLC
Acceptable Financing 1031 Exchange, Cash, Contact Agent, Lease Back, Private Financing Available, Trade
Listing Terms 1031 Exchange, Cash, Contact Agent, Lease Back, Private Financing Available, Trade
Financing Private
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Bought with Mathieu Ryon • Mathieu Ryon
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "