Lewisville Medical Office Building€¦ · 571 West Main St., Lewisville, TX 75057 YEAR BUILT 2002...
Transcript of Lewisville Medical Office Building€¦ · 571 West Main St., Lewisville, TX 75057 YEAR BUILT 2002...
O F F E R I N G M E M O R A N D U M
C O N F I D E N T I A L
Lewisville MedicalOffice Building
Location:571 West Main St., Lewisville, TX 75057
Offered by:Cliff Ellis
Bill Ellis
6421 Camp Bowie Blvd., Suite 302
Fort Worth, Texas 76116
817.737.5000
E L L I S - T I N S L E Y . C O M
O F F E R I N G M E M O R A N D U M | 2E L L I S & T I N S L E Y , I N C .
0 1 .
Summary
About the PropertyEllis & Tinsley, Inc. has been exclusively retained to
offer the opportunity to acquire Lewisville MOB, a
well-located 21,113 square foot medical office build-
ing directly across from Medical City Lewisville, and
minutes away from I-35E,121, and PGBT.
Built in 2002, the Property is priced favorably at a
7.25% cap rate with established tenants and near full
occupancy (94%). Upgrades include “welcome” smart
digital building directory, full property camera
surveillance with remote access, elevator and lobby
decor, key card access for after-hours, and new
TPO roof (2018).
O F F E R I N G M E M O R A N D U M | 4E L L I S & T I N S L E Y , I N C .
A C R O S S T H E S T R E E T F R O MM E D I C A L C I T Y L E W I S V I L L E
PropertyProfile
O F F E R I N G M E M O R A N D U M | 5E L L I S & T I N S L E Y , I N C .
L O C A T I O N571 West Main St., Lewisville, TX 75057
Y E A R B U I L T2002
P R I C E$4,300,000
C A P R A T E7.25%
P E R C E N T L E A S E D94%
S I Z E21,113 RSF (Building) / 1.253 acres (Land)
3 M I L E1 M I L E
P O P U L AT I O N
AV G . H H I N C .
10,546 97,001
$58,676 $108,143
D E M O G R A P H I C S
% O F S FS F
K E Y T E N A N T S
T E N A N T L E A S E E X P.
The Back and Body Clinic 4,300 20.4% 12/31/2029
LabCorp 2,071 9.8% 07/13/2020
Cosmetic Advantage 4,317 20.4% 12/31/2024
0 2 .
PropertyOverview
O F F E R I N G M E M O R A N D U M | 7E L L I S & T I N S L E Y , I N C .
O F F E R I N G M E M O R A N D U M | 8E L L I S & T I N S L E Y , I N C .
E L L I S & T I N S L E Y , I N C . O F F E R I N G M E M O R A N D U M | 9
0 3 .
FinancialOverview
FinancialSummary
E L L I S & T I N S L E Y , I N C .
P R O P E R T YLewisville MOB
G L A21,113
P E R C E N T L E A S E D94%
P R O J E C T E D Y E A R 1 N O I$311,510.78
The following information is provided to assist
investors in their underwriting of the asset:
• Rent Roll
• Income & Expenses
• Pricing
• Tenant Profiles
O F F E R I N G M E M O R A N D U M | 11
Rent Roll
O F F E R I N G M E M O R A N D U M | 1 2E L L I S & T I N S L E Y , I N C .
S TAT U ST E N A N T
Common Area
100
110
120
200
210
220
230
240
A S O F 5 / 2 / 2 0 2 0
U N I T S Q F T. R E N T L E A S E S TA R T
—
The Back and Body Clinic
Lab Corp of America
Main Street Medical
Cosmetic Advantage, Inc.
PNP Center
—
CBS Studios, Inc./Dr. Phil
Hospice Plus
—
Current
Current
Current
Current
Current
Vacant/Unrented
Notice/Unrented
Current
177
4,300
2,071
3,679
4,317
2,587
1,167
640
2,175
21,113
—
$6,270.83
$3,279.08
$6,438.25
$6,500.00
$4,203.88
—
$1,120.00
$4,116.19
$31,928.23
—
01/01/2020
03/01/2014
12/01/2008
10/01/2013
06/15/2007
—
10/23/2017
06/01/2012
—
12/31/2029
07/13/2020
04/30/2021
12/31/2024
07/31/2023
—
04/30/2021
02/28/2023
N N N
—
$2,271.83
$1,094.18
$1,943.74
$0.00
$0.00
—
$0.00
$0.00
$5,309.75
L E A S E E N D
Expenses
O F F E R I N G M E M O R A N D U M | 1 3E L L I S & T I N S L E Y , I N C .
Management Fee
Elevator Services
Bank Charges
Professional Fees
Repairs - General
Repairs - HVAC
Supplies
Security
O P E R A T I N G E X P E N S E S R E C O N C I L E D
A C T U A L
Lawn Maintenance
Janitorial Services
Pest Control
Insurance
Electricity
Water
Trash Removal
Property Taxes
Total Operating Expenses $ 135,344.98
$11,700.00
$2,898.39
$35.00
$3,050.00
$10,873.69
$3,844.62
$738.30
$1,901.17
$6,816.63
$8,987.54
$1,104.12
$12,970.66
$5,340.27
$3,213.39
$1,822.20
$60,049.00
A C T U A L
E L L I S & T I N S L E Y , I N C .
S U I T E 1 0 0Dr. Matthew Gilbert is an experienced Doctor of Chiropractic and specializes in multiple
adjusting techniques, and the evaluation and treatment of sports-related injuries and spinal
rehabilitation. A wide range of other services are also offered including Regenerative
Medicine, Sciatica Treatment, and weight loss.
O F F E R I N G M E M O R A N D U M | 1 4
S U I T E 11 0Laboratory Corporation of America Holdings, more commonly known as LabCorp, is an
American S&P 500 company headquartered in Burlington, North Carolina. It operates one
of the largest clinical laboratory networks in the world, with a United States network of 36
primary laboratories.
Number of employees: 61,000 (2018)
Revenue: 11.33 billion USD (2018)
Tenant Profile
E L L I S & T I N S L E Y , I N C .
S U I T E 1 2 0Dr. Rudolpho Herrera works in Lewisville, Benbrook and Bedford and specializes in
Pain Management under the “Your Family Medical” parent company. Dr. Herrera is
affiliated with Texas Health Harris Methodist Hospital Southwest Fort Worth,
Texas Health Harris Methodist Hospital Alliance and Texas Health Harris Methodist
Hospital Southwest Fort Worth.
O F F E R I N G M E M O R A N D U M | 1 5
S U I T E 2 0 0Cosmetic Advantage is an all-ceramic crown and bridge dental laboratory with 20 years
of experience. Operated by the Fincher family, they have been servicing local dentists and
hospitals in Lewisville since 2009 and have since expanded their suite to accommodate
additional business.
Tenant Profile
Tenant Profile
E L L I S & T I N S L E Y , I N C .
S U I T E 2 1 0The Lawlis Peavey PsychoNeuroPlasticity (PNP) Center provides diagnoses and treatment
programs for individuals dealing with problems involving neurological issues and related
symptoms. Treatments include children, adolescents and adults with Attention Deficit
Disorder (ADHD), Autism Spectrum Disorders, Depression, Anxiety, Mood / Bipolar
Disorder, Obsessive-Compulsive Disorder, Post-Traumatic Stress Disorder, Memory &
Attention Disorders, Addiction as well as other neurological challenges.
O F F E R I N G M E M O R A N D U M | 1 6
S U I T E 2 4 0Hospice Plus provides on-site hospice care and offers a full staff of home health care
professionals. Their clinical team members are experts in pain and symptom management,
and support team members are skilled in the specific issues of emotional support, spiritual
counseling, and resource referral. 10,000+ employees nationwide
0 4 .
Trade AreaOverview
Dallas/Fort Worth Area
E L L I S & T I N S L E Y , I N C .
• Population: 7.54M
• 4th largest metropolitan area in the U.S.,
#1 in population growth
• Interstates 20, 30, 35 and 45 connecting DFW to all
regions of the country
• Connections to major commercial centers around
the globe via Dallas-Fort Worth International Airport
and Dallas Love Field, plus 13 smaller airports in the
Metroplex and nine railroads.
• Home to 18 Fortune 500 companies, 4 Global 500
companies, and 40 Fortune 1000 companies
• Host teams in all four major sports leagues
• DFW continually ranks high as an affordable metro
area, with a cost of living index of 94.7
O F F E R I N G M E M O R A N D U M | 1 8