Dallas, TX - Henry's Majestic

Description:

SRS National Net Lease Group is pleased to present a premier redevelopment opportunity in the heart of Dallas, Texas. This offering includes the fee-simple interest (land and building ownership) in a strategically positioned property with existing absolute NNN retail tenancy, providing investors with stable interim income during the planning and entitlement phase. The property’s PD zoning designation unlocks significant upside potential, specifically accommodating multifamily or townhome development. With flexible zoning already in place, investors and developers have the opportunity to capitalize on the thriving residential market demand in this dynamic urban corridor. In the near term, investors benefit from secure cash flow with zero landlord responsibilities under an absolute NNN lease structure, currently featuring more than 8 years remaining and additional renewal options. Annual rent escalations and FMV adjustments further strengthen interim cash flow and offer protection against inflation, providing an attractive holding scenario during the entitlement and pre-development period. This unique offering represents a compelling covered land play, ideal for visionary developers seeking to capture long-term value through residential redevelopment in one of Dallas’s most sought-after neighborhoods.

The subject property is located just off of Interstate 30, a major transportation artery that sees over 162,700 vehicles pass by daily and connects Dallas and Fort Worth. The asset is located less than two miles west of Downtown Dallas and Victory Park, the home of the Dallas Mavericks and Dallas Stars. The site also benefits from its proximity to the Kay Bailey Hutchison Convention Center, a 2 million square foot convention center that sees over a million annual visitors. The asset is located in between the Alexan and Atta West/Pike West apartments (592 units). In addition, the asset is located in close proximity to several large employers, including Goldman Sachs, who recently broke ground on a new 800,000 square foot campus. The subject property is less than 2 miles from Methodist Medical Center, a 592-bed teaching hospital. The 5-mile trade area is supported by over 371,100 residents and 338,650 employees with an average household income of $114,261.