5025 North Central Expressway (“McKool Building”) is a unique and exceptional investment opportunity. This property offers accessibility and exposure to North Central Expressway to the east and the popular McKinney Avenue to the west. There is direct street access along the northern line of the property provided by Webb Street, which offers superior access and traffic flow.
An adjacent market sector surrounding the McKool Building, Uptown, is one of the most robust in the metroplex. It is roughly bounded by the Lower Greenville micro-sector to the east, Knox-Henderson micro-sector to the south, and the McKinney Ave / Uptown micro-sectors to the west and south. The high-end multi-family market has blossomed in the market sector with great success related to rents, absorption, occupancy, and educated clientele. Multifamily rates reach the $2.50+ psf mark for well-located new construction and DFW Multifamily occupancy market-wide exceeds 93%.
The retail component of the market area commands upper tier rents and is 94% occupied. Retail rental rates in the McKool micro-sector average $26 NNN psf with many properties exceeding $35 NNN. The office market from NCX through the Uptown/Turtle Creek area is similar to the aforementioned product types where demand has exploded for office space, and rental rate increases have led to a conversion of many office leases to a NNN format. The office component is showing an 11% vacancy percentage with generationally high rental rates averaging very near $30 psf.
- Unique, stabilized asset
- Established submarket with robust development
- Upside potential
Leased: 100%
Land Area: 0.72 Acres
Parking ratio: 4.21/1,000
- Property Type
Office
- Submarket
- Year Built
1965Renovated 1999
- Total Building Size
20,000RSF
- Total Acres
0.46
- Number of Floors
3
- Building Class
C
- Property ID
1433441
