1. Texas
  2. Denton
  3. 2216 Bolivar Street
$449,000

2216 Bolivar Street, Denton, TX 76201

  • 3,880 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1995
  • Property Lot Size Icon0.48acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $116/sqft
  • Property List Date Icon Listed 29 days ago

Property Description

Located just blocks from the Texas Woman's University and 1.4 miles from Downtown Denton Square, 2216 Bolivar presents an opportunity to acquire a R3-zoned infill lot with an existing religious facility on a NNN lease that cash flows well at approximately an 8.3% CAP rate on current actuals. This property offers flexibility for both investors, developers and non-profit end users, with permitted residential redevelopment options and the potential to continue as a place of worship, community facility or daycare with an approved Specific Use Permit (SUP). Site is zoned R3, providing future redevelopment options including low-rise apartments, townhomes or duplexes per City approval. The lot behind this one is also listed for sale (zoned R7) providing a potential assemblage for a slightly larger multifamily development. See Broker for more details. Tenant is a non-profit religious organization with over 7 years of stable occupancy. Lease structure is NNN. Tenant is responsible for maintenance & repairs inside and out includes HVAC & some structural.  Denton’s strong rental market is fueled by its rapid population growth—over 16.29% in the last four years and 40% since 2010—as well as the presence of major educational institutions, TWU and the University of North Texas (UNT), which enroll over 65,000 students combined.  - Potential Multifamily Development & Assemblage with Additional Lot For Sale - Single Tenant NNN Investment at 8.3% CAP with Strong Cash Flow on Current Actuals - Easy Access US-380 (University Dr.) & Public Transportation  - Denton’s Rental Market Is Booming, with UNT’s & TWU's 72,000+ Students & Professional Workforce Driving Demand

Listing Status:
Active
Listing Office:
Ray Gun Commercial : (940) 368-5559
Listing Agent:
Steven Geis :
MLS ID:
20977450
  • Flooring: CarpetTileVinyl
  • A/C: Electric
  • Heating: CentralElectric

This listing courtesy of Steven Geis, Ray Gun Commercial

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

E

Evers Park Elementary School

3300 Evers Pkwy, Denton, TX, 76207

Grades KG-5

0.92 miles away

S

Strickland Middle School

324 E Windsor Dr, Denton, TX, 76209

Grades 6-8

0.73 miles away

D

Denton High School

1007 Fulton St, Denton, TX, 76201

Grades 9-12

0.90 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.