Investment Offering
Arlington, TX - YMCA
1005 Skyline Drive | Arlington, TX 76011
$8,378,000
Price6.75%
Cap Rate$565,500
NOI30,320
± SF Offering GLA1.46
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding YMCA property in Arlington, Texas (Dallas-Fort Worth MSA). The tenant, Arlington YMCA, will sign a brand new 15-year lease at the close of escrow, demonstrating their commitment to the site. The lease features attractive 1.5% annual rental increases, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. YMCA is a leading nonprofit which strives to empower communities by promoting healthy lifestyles, physical activity, and social responsibility. The subject property was renovated in 2020, with approximately $1.7 million in upgrades including new HVAC systems on the premises.
Location
The YMCA is strategically located just off of Interstate 30, which serves more than 134,000 vehicles per day. The site benefits from excellent visibility via significant street frontage and a large pylon sign, and features several points of ingress/egress. Furthermore, the YMCA is ideally situated in the heart of a dense retail corridor, with numerous national/credit tenants nearby including Walmart Supercenter, The Home Depot, Ross Dress for Less, Petsmart, Chick-fil-A, Whole Foods, Bank of America, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. In addition, the site is located within walkable distance of AT&T Stadium (80,000 seats), home of the Dallas Cowboys, and Globe Life Field (40,300 seats), home of the Texas Rangers. The surrounding neighborhood is home to a vibrant and diverse mix of retail, office, and hospitality tenants, as well as several apartment complexes including Element Apartments (200 units), Arlington Oaks (202 units), Enclave at Arlington (384 units) and The Residence on Lamar (482 units), further increasing potential consumer traffic to the site. The 5-mile trade area is supported by over 283,000 residents and 150,000 employees with an average household income of $79,291, providing a direct consumer base from which to draw. Located approximately 17 minutes from downtown Fort Worth and 21 minutes from downtown Dallas, Arlington, Texas is located in the heart of the fast-growing Dallas-Fort Worth MSA.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215