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December 5, 2023
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TEXAS/SOUTHWEST NEWS
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Texas Medical Property Trades for $1,200/sf

7/26/23

A 5k sf, medical property occupied by Total Point Urgent Care in Dallas, TX was purchased for $6 mil ($1,200/sf) by a Florida-based private investor who was in a 1031 exchange. The property, situated on .8 acres at 3443 West Wheatland Rd, was sold by a Kansas-based professional investor.

The property is near I-20 and is just 1.5 miles from Southwest Center Mall, a 1.5 msf center. There are more than 240,000 residents and 79.000 employees within a five-mile radius of the asset.

Britt Raymond and Kyle Fant with SRS Real Estate Partners’ National Net Lease Group represented the seller in the transaction. The closing cap rate was 6.6%.

"This Total Point Urgent Care asset was an ideal investment vehicle for the passive 1031 exchange buyer,” said Raymond. “It offers a 20-year, absolute triple-net lease in a growing, income tax-free state. We received ample buyer interest in the location because the structure of the deal and the yield were an ideal fit for what buyers are seeking."





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