1959 W Southlake Blvd
Southlake, TX
Price:
$3,200,000
Cap Rate:
6.33%
NOI:
$202,565
Building Size:
Approx. 10,022 Sq. Ft.
Lot Size:
Approx. 1.16 Acres
Type:
Multi-Tenant / Retail
Year Built:
2006
Offering Agent
Investment Overview
- Highly Sought After Owner/User Opportunity in Southlake, TX, Located Off the Heavily-Trafficked Southlake Blvd. Corridor.
- Below Market Rents With an Average of $19.48/Sf, Compared to $35.00/Sf in Similar Centers Nearby.
- Built-In Rental Increases With Annual Rent Bumps in Existing Leases.
- Strong Tenant Retention, With 46% of Tenants Occupying for Over 12 Years and 56% Over 9 Years.
- Majority of Rent Roll Consists of Small, Leasable Suites (69% Under 1,400 Sf), With Potential to Convert Remaining 31% for Higher Rents.
- Strong Demographics and High Spending Power in Southlake, TX, With Average Household Incomes Around $328,117 Per Year.
- High Visibility and Traffic Counts Off Southlake Blvd., With Approximately 56,319 Daily Traffic Count, Making It Ideal for Various Retail/Medical Uses.
