Corner of Main & Haskell
Corner of Main & Haskell is an infill hard corner, value-add investment in the East Dallas submarket located between Lakewood and the Deep Ellum entertainment and office district. Partially renovated in 2019, the Property consists of four buildings totaling 12,950 SF situated at the signalized intersection of Main Street and Haskell Avenue on approximately 26,678 SF (0.61 acres) of land. Corner of Main & Haskell is 60.23% leased to local clothing retailer You Go Natural paying $13.78 PSF NNN with lease expiration in February 2024 presenting an immediate upside opportunity in redeveloping the buildings and releasing at market rates. Recent submarket leasing activity has demonstrated rents up to $26.00 PSF NNN for newly constructed and recently renovated retail and office space along Main Street. The Property is priced well below replacement cost at just $201.93 PSF to the building. Pro forma estimates contemplate achieving a 10.89% cap rate at list price by renovating the existing buildings and leasing up at $22.00 PSF NNN.