2216 BOLIVAR STREET, DENTON, TX 76201

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