OFFERING MEMORANDUM
North Richland Hills, TX
Glenview Professional Building
PRESENTED BY:
C 817-999-7348
AARON WIMBERLY
Owner –President
O 747-NNN-RENT
TX #614860
Texas Invest Co.
www.txinvestco.com
OFFERING MEMORANDUM
PRESENTED BY:
OFFERING MEMORANDUM
Confidentiality & Disclaimer
C 817-999-7348
AARON WIMBERLY
Owner –President
O 747-NNN-RENT
TX #614860
www.txinvestco.com 2
We obtained the information above from sources we believe as reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental
or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal
advisors should conduct your own investigation of theproperty.
TEXAS INVEST CO.
1301 S Bowen Rd.
Suite 125
Arlington, TX 76013
OFFERING MEMORANDUM
PROPERTY INFORMATION
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GLENVIEW PROFESSIONAL BUILDING
1EXECUTIVE SUMMARY
SITE PLAN
BUILDING LAYOUT
FLOOR PLANS
ADDITIONAL PHOTOS
Executive Summary –FOR SALE / LEASE
GLENVIEW PROFESSIONAL BUILDING 1 | PROPERTY INFORMATION
4109 City Point Drive, North Richland Hills, TX 76180
PROPERTY HIGHLIGHTS
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Sale Price: $1,326,129
Lease Rate: Negotiable
Proforma Cash on Cash: 35.0%
Proforma Cap Rate: 14.0%
Proforma NOI: $185,658
Lot Size: 1.53 Acres
Building Size: 15,349 SF
Building Class: B
Year Built/Renovated: 1983, 2014 - 2015
Market: Dallas – Fort Worth
Sub Market: North Richland Hills
Cross Streets: City Point / Glenview
❖ Priced at ONLY $86 PSF
❖ Current Cash Flowing Property With Tremendous Upside
❖ Incredibly Rare Opportunity To Quickly Obtain Double Digit Returns
❖ Low-end Proforma Projects a 14% Cap and 35% Cash-on-Cash
❖ Remaining Vacancy is Split Into 4 Suites to Help Mediate Lease-up
❖ Remaining Suites Can Be Combined Into Two Larger Suites
❖ Current Rents Are Well Below Market
❖ Adjoining Properties Are Leasing For $24 PSF Gross and $16.50 NNN
Site Plan
GLENVIEW PROFESSIONAL BUILDING 1 | PROPERTY INFORMATION
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Building Layout
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GLENVIEW PROFESSIONAL BUILDING 1 | PROPERTY INFORMATION
Additional Photos
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GLENVIEW PROFESSIONAL BUILDING 1 | PROPERTY INFORMATION
Additional Photos
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GLENVIEW PROFESSIONAL BUILDING 1 | PROPERTY INFORMATION
Additional Photos – Adjacent Properties
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GLENVIEW PROFESSIONAL BUILDING 1 | PROPERTY INFORMATION
OFFERING MEMORANDUM
LOCATION INFORMATION
GLENVIEW PROFESSIONAL BUILDING
2CITY INFORMATION
PARCEL MAP
REGIONAL MAP
LOCATION MAPS
AERIAL MAP
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GLENVIEW PROFESSIONAL BUILDING 2 | LOCATION INFORMATION
Texas Invest Co is pleased to present the Glenview Professional Building, a multi-suite medical/professional office building. It is located in the
highly sought after City Point development in North Richland Hills, Texas. The property consists of a 15,349 square foot of leasable space on
1.53 Acres. The Glenview Professional Building is located on City Point Drive and sits adjacent to the brand new $60 million City Hall complex
that sits on 12 Acres. It is also located next to the 310k SF Medical City of North Hills Hospital. Medical City of North Hills is part of the Medical
City network that operates 14 North Texas Hospitals.
North Richland Hills is a suburb of the Dallas-Fort Worth Metropolitan area and has an estimated population of almost 70k. It borders Fort Worth
to the East and is only minutes away from DFW Airport or 30 minutes from Downtown Dallas. The 5-mile population is approximately 250k with
an average household income almost 1.5 times the national average.
North Richland Hills, Texas is a dynamic, growing city centrally located within the Dallas Fort Worth metroplex. With nearly 70,000 residents,
1,200 businesses and 30 major employers, we are the third largest city in Tarrant County. Residents enjoy our welcoming and neighborly
atmosphere and family friendly amenities including a new public library and recreation center, more than 800 acres of parkland, 30 miles of hike
and bike trails, the award winning Iron Horse Golf Course and NRH2O Family Water Park. Superior schools, a wide range of housing options
and convenient access to all the D-FW region has to offer, make North Richland Hills an outstanding community in which to live, work and play!
In 2016, North Richland Hills was recognized by the Dallas Morning News as one
of the 10 best neighborhoods in DFW. The newspaper scored more than 300
communities in Collin, Dallas, Denton, Rockwall and Tarrant counties on several
factors including safety from crime, affordability of homes, good schools, well
maintained and quiet neighborhoods, rising home values, pet-friendliness, places
to shop and things to do, commute, walkability, trees and landscaping, and parks
and greenspaces.
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Parcel Map
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GLENVIEW PROFESSIONAL BUILDING 2 | LOCATION INFORMATION
Regional Map
GLENVIEW PROFESSIONAL BUILDING 2 | LOCATION INFORMATION
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Location Maps
GLENVIEW PROFESSIONAL BUILDING 2 | LOCATION INFORMATION
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Aerial Map
GLENVIEW PROFESSIONAL BUILDING 2 | LOCATION INFORMATION
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OFFERING MEMORANDUM
FINANCIALANALYSIS
GLENVIEW PROFESSIONAL BUILDING
3INCOME & EXPENSES
PROFORMA
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Income -Current
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GLENVIEW PROFESSIONAL BUILDING 3 | FINANCIAL ANALYSIS
SUITE TENANT SF START END MONTHLY ANNUAL $PSF Notes
A Vacant 2,290 $0.00 $0.00 $0.00
B Vacant 4,215 $0.00 $0.00 $0.00
C Dr. Richwine 1,290 10/1/2001 9/30/2021 $1,450.00 $17,400.00 $13.49 Full Service
D Johnson CPA 1,850 9/1/2008 8/31/2019 $2,100.00 $25,200.00 $13.62 Modified Gross
E Fast Health 1,065 9/1/2018 10/31/2021 $1,042.81 $12,513.75 $11.75 Base Year Expense Overages
F Vacant 2,275 $0.00 $0.00 $0.00
G Vacant 1,138 $0.00 $0.00 $0.00
H Dhaman Vision 1,201 3/16/2019 6/30/2024 $1,000.83 $12,010.00 $10.00 Base Year Expense Overages
Total 15,324 $5,593.65 $67,123.75 $12.42
INCOME SUMMARY PER SF
Annual Rental Income $67,123.75 $4.38
Suite C Elec Charge $2,400.00 $0.16
Gross Income $69,523.75 $4.54
EXPENSE SUMMARY PER SF
Taxes $20,803.85 $1.36
Insurance $4,726.85 $0.31
Water $5,187.63 $0.34
Dumpster $2,071.52 $0.14
Electric $8,458.90 $0.55
Landscaping $1,900.00 $0.12
Janitorial $7,402.12 $0.48
Internet $829.70 $0.05
Repairs $6,769.17 $0.44
Gross Expenses $58,149.74 $3.79
Net Operating Income $11,374
Income – Proforma
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GLENVIEW PROFESSIONAL BUILDING 3 | FINANCIAL ANALYSIS
SUITE TENANT SF START END MONTHLY ANNUAL $PSF NNN MONTHLY ANNUAL
A NEW 2,290 2019 2024 $2,671.67 $32,060.00 $14.00 $3.35 $638.81 $7,665.74
B NEW 4,215 2019 2024 $4,566.25 $54,795.00 $13.00 $3.35 $1,175.80 $14,109.66
C Dr. Richwine 1,290 10/1/2001 9/30/2021 $1,650.13 $19,801.50 $15.35 $0.00 $0.00 $0.00
D Johnson CPA 1,875 9/1/2008 8/31/2019 $2,100.00 $25,200.00 $13.44 $0.00 $0.00 $0.00
E Fast Health 1,065 9/1/2018 10/31/2022 $1,042.81 $12,513.75 $11.75 $0.00 $0.00 $0.00
F NEW 2,275 2019 2024 $2,654.17 $31,850.00 $14.00 $3.35 $634.63 $7,615.53
G NEW 1,138 2019 2024 $1,517.33 $18,208.00 $16.00 $3.35 $317.45 $3,809.44
H Dhaman Vision 1,201 3/16/2019 6/30/2024 $1,000.83 $12,009.96 $10.00 $0.00 $0.00 $0.00
Total 15,349 $17,203.18 $206,438.21 $13.45 $2,766.70 $33,200.37
INCOME SUMMARY PER SF
Annual Rental Income $206,438.21 $13.45
Suite C Elec Charge $2,400.00 $0.16
NNN $33,200.37 $2.91
Gross Income $242,038.58 $16.52
EXPENSE SUMMARY PER SF
Taxes $20,803.85 $1.36
Insurance $4,726.85 $0.31
Water $5,187.63 $0.34
Dumpster $2,071.52 $0.13
Electric $8,458.90 $0.55
Landscaping $1,900.00 $0.12
Janitorial $7,402.12 $0.48
Internet $829.70 $0.05
Capital Reserves $5,000.00 $0.33
Gross Expenses $56,381 $3.35
Net Operating Income $185,658
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OFFERING MEMORANDUM
SALE COMPS
GLENVIEW PROFESSIONAL BUILDING
ON-MARKET SALES COMPS
COMPARABLES MAP
COMPARABLES OVERVIEW
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Active Sale Comparables
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GLENVIEW PROFESSIONAL BUILDING 4 | SALES COMPS
19,250 SF $127 PSF 18,408 SF $120 PSF 11,642 SF $112 PSF 16,080 SF $155 PSF
14,400 SF $160 PSF 12,000 SF $180 PSF 12,000 SF $167 PSF 15,234 SF $131 PSF
11,674 SF $150 PSF 12,400 SF $115 PSF 10,480 SF $134 PSF 12,551 SF $110 PSF
1400 Hillcrest, Arlington, TX 76010
$1,400,000
0% Occupied Built in 2001
111 Ferguson, Irving, TX 75062
$1,381,380
0% Occupied Built in 1985
3450 Forest, Dallas, TX 75234
$1,750,000
0% Occupied Built in 1984
13701 Hwy 171, Cresson, TX 76035
$1,425,000
0% Occupied Built in 2007
4808 S Buckner, Dallas, TX 75227
$2,000,000
0% Occupied Built in 1971
4109-4201 Brown, Colleyville, TX 76034
$1,999,000
0% Occupied Built in 1986
1105 Santa Fe, Weatherford, TX 76086
$2,304,000
0% Occupied Built in 1999
399 Melrose, Richardson, TX 75080
$2,160,000
0% Occupied Built in 2003
601 N Belt Line, Irving, TX 75061
$2,500,000
0% Occupied Built in 1974
401 N Bowser, Richardson, TX 75081
$2,200,000
0% Occupied Built in 1983
2466 Merrell, Dallas, TX 75229
$1,300,000
0% Occupied Built in 2006
2461 Stemmons, Dallas, TX 75207
$2,450,000
0% Occupied Built in 1966
Active Sale Comparables
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GLENVIEW PROFESSIONAL BUILDING 4 | SALES COMPS
15,540 SF $180 PSF 12,840 SF $218 PSF 13,987 SF $143 PSF
Built in 1946
13,900 SF $137 PSF 19,536 SF $92 PSF 19,360 SF $85 PSF
16,416 SF $91 PSF 12,000 SF $125 PSF 15,000 SF $80 PSF
$1,200,000
0% Occupied Built in 1989
$1,500,000
0% Occupied Built in 2005
206 Bear Cat, Aledo, TX 76008
$1,500,000
0% Occupied Built in 2009
8918 Governors Row, Dallas, TX 75247
$1,645,600
0% Occupied Built in 1966
6820 Corporation, Fort Worth, TX 76126 1809 Mony, Fort Worth, TX 76102
2425 I-30, Rockwall, TX 75087
$1,900,000
0% Occupied Built in 2000
6790 Corporation, Fort Worth, TX 76126
$1,800,000
0% Occupied Built in 2005
235 N Central, Richardson, TX 75080
$1,995,000
0% Occupied Built in 19960% Occupied
$2,800,000
2725-2737 T illar, Fort Worth, TX 76107 3448 S Burleson, Alvarado, TX 76009
$2,800,000
0% Occupied Built in 1999
Comparables Map
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GLENVIEW PROFESSIONAL BUILDING 4 | SALES COMPS
Comparables Overview
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GLENVIEW PROFESSIONAL BUILDING 4 | SALES COMPS
Property Status Type Address City State Zip Year Built % Occupied Gross Income SqFt Price/SqFt Asking Price
Active Listing Office/Warehouse 2461 Stemmons Dallas TX 75207 1966 0.00% $0 19,250 $127.27 2,450,000
Active Listing Office/Warehouse 401 N Bowser Richardson TX 75081 1983 0.00% $0 18,408 $119.51 2,200,000
Active Listing Office/Warehouse 2466 Merrell Road Dallas TX 75229 2006 0.00% $0 11,642 $111.66 1,300,000
Active Listing Office 601 N Belt Line Road Irving TX 75061 1974 0.00% $0 16,080 $155.47 2,500,000
Active Listing Office 1105 Santa Fe Weatherford TX 76086 1999 0.00% $0 14,400 $160.00 2,304,000
Active Listing Office 399 Melrose Dr Richardson TX 75080 2003 0.00% $0 12,000 $180.00 2,160,000
Active Listing Office 4808 S Buckner Blvd Dallas TX 75227 1971 0.00% $0 12,000 $166.67 2,000,000
Active Listing Office 4109-4201 Brown Colleyville TX 76034 1986 0.00% $0 15,234 $131.22 1,999,000
Active Listing Office 3450 Forest Lane Grand Prairie TX 75052 1984 0.00% $0 11,674 $149.91 1,750,000
Active Listing Office 13701 Hwy 171 Cresson TX 76035 2007 0.00% $0 12,400 $114.92 1,425,000
Active Listing Office 1400 Hillcrest Dr Arlington TX 76010 2001 0.00% $0 10,480 $133.59 1,400,000
Active Listing Office 111 Ferguson Ct Irving TX 75062 1985 0.00% $0 12,551 $110.06 1,381,380
Averages 1989 0.00% 0.00% 13,843 $138.36 $1,905,782
Active Listing Industrial 2725-2737 Tillar Fort Worth TX 76107 1946 0.00% $0 15,540 $180.18 2,800,000
Active Listing Industrial 3448 S Burleson Alvarado TX 76009 1999 0.00% $0 12,840 $218.07 2,800,000
Active Listing Industrial 235 N Central Richardson TX 75080 1996 0.00% $0 13,987 $142.63 1,995,000
Active Listing Industrial 2425 I-30 Rockwall TX 75087 2000 0.00% $0 13,900 $136.69 1,900,000
Active Listing Industrial 6790 Corporation Pkwy Fort Worth TX 76126 2005 0.00% $0 19,536 $92.14 1,800,000
Active Listing Industrial 8918 Governors Row Dallas TX 75247 1966 0.00% $0 19,360 $85.00 1,645,600
Active Listing Industrial 6820 Corporation Pkwy Fort Worth TX 76126 2005 0.00% $0 16,416 $91.37 1,500,000
Active Listing Industrial 206 Bear Cat Rd Aledo TX 76008 2009 0.00% $0 12,000 $125.00 1,500,000
Active Listing Industrial 1809 Mony St Fort Worth TX 76102 1989 0.00% $0 15,000 $80.00 1,200,000
Averages 1991 0.00% $0 15,398 $127.90 $1,904,511
OFFERING MEMORANDUM
DEMOGRAPHICS
GLENVIEW PROFESSIONAL BUILDING
5DEMOGRAPHICS MAP
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Demographics Map
GLENVIEW PROFESSIONAL BUILDING 4 | DEMOGRAPHICS
1 Mile 3 Miles 5 Miles
Total Population 9,638 85,745 247,850
Median Age 41.4 37.7 36.1
Median Age (Male) 37.1 35.8 34.8
Median Age (Female) 45.6 39.6 37.4
Total Households 3,598 33,123 95,607
# of Persons Per HH 2.7 2.6 2.6
Average HH Income $64,169 $67,140 $67,289
Average House Value $134,223 $142,420 $151,001
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JRDSSGBW, LLC
