303-305 Coke Street
Hillsboro, TX
Price:
$3,500,000
Cap Rate:
7.60%
NOI:
$265,890
Building Size:
Approx. 15,750 Sq. Ft.
Lot Size:
Approx. 1.84 Acres
Type:
Multi-Tenant / Retail
Year Built:
2009
Investment Overview
- Below Market Rents – Weighted Average Base Rental Rate of Only $16.55/SF, While Commanding $20/SF Base Rent in ~20% of GLA
- 100% of the Tenant Line-Up Has Occupied the Center Over 5 Years, 70% Over 10 Years, and 12%+ Has Occupied the Site for Over 15 Years
- Features 8 Tenants With NNN Lease Structures
- Presents an Opportunity to Acquire a Strong, Stabilized Shopping Center With a Favorable Mix of Retailers
- Shadow-Anchored to Walmart, Who Benefits From Ample Traffic Counts and Caters Well to the Local Demographics
- Priced Below Replacement Cost At $222/SF
- The City of Hillsboro and Several Major Local Developers Have Strategic Plans to Stimulate Business Growth via Commercial Real Estate Construction