Location/Site Feasibility Analysis

 Property currently for sale:

1215 N Cooper St, Arlington, TX
$8.5 million sales price
7.975 acres, 3 parcels

(2.24 acres of Cooper St. frontage)

 Apartment complex on the 2.24 acre lot along Cooper Street, built in 1964.

The property has high visibility along Cooper Street, a major roadway through Arlington, and is easily accessible.

The property is in close proximity to I-30, which is highly-travelled through the metroplex, as well as Cowboys Stadium, Texas Rangers Stadium, and the University of Texas at Arlington.

Upon closer examination of the location, one will see that this is a neighborhood of healthcare.  The property for sale (the star on the map) is across Cooper Street from Arlington Memorial Hospital ('A' on the map) which is a part of the Texas Health Resources, one of the top employers in the metroplex.  All red dots on the map are in the healthcare/medical industry.

Conclusion:

This location, with its proximity to Arlington Memorial Hospital, could serve as a successful medical office site.  There should be a focus during pre-leasing to acquire tenants that would supplement/compliment the existing medical businesses in this area.  For example, opportunities could exist in this marketplace for companies in sports medicine, physical therapy, or senior care.  The medical office vacancy rates, which could not be found at this time, should be analyzed for this particular area to ensure that there is a place for additional medical office space to enter the market.  As well, financial analysis should be conducted on the property that is for sale to ensure it would be a good investment.  Based on an initial assessment of the property's financial terms, the sales price seems quite high, especially considering the current structure would need to be demolished in order to construct a medical office building.  If the seller is willing to negotiate the sale of only the 2.24 acres along Cooper Street, which currently contains the apartment complex, then this property would most likely be more financially feasible.

If this particular property is not deemed feasible during financial analysis, however, another medical office site should be chosen based on its close proximity to a large, existing healthcare facility and the area's medical office vacancy rates.