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Shopping Strip

Shops at Presidio

12160 W Parmer Ln, Cedar Park, TX 78613

Listing Price: $17,842,000

Cap Rate
5.00%
Gross SF
24,031
Rentable SF
24,031
Price/Gross SF
$742.46
Lot Size
4.20 acres
Year Built
2018

Investment Overview

The Shops at Presidio is a 24,031-square-foot, multi-tenant retail center located in a dense residential area of Cedar Park, Texas. Constructed in 2018, the center is situated on a 4.2-acre parcel and is comprised of one multi-tenant building and one single-tenant building. The center is 100 percent leased, and all leases are triple-net. Tenants are a complementary mix of restaurants and service-oriented businesses, including Verizon Wireless, Mandola's Italian Market, Best in Class Education Center, Swish Dental, The UPS Store, Barre3, Sap's Fine Thai Cuisine, Lavish Nails & Spa, and Rumble Boxing. The Shops at Presidio is located on the signalized, hard corner of West Parmer Lane and Ranch Trails. Traffic counts exceed 37,000 vehicles per day in front of the property. The subject property is part of a 25-acre master planned mixed-use development that includes roughly 60,000 square feet of office space currently with an additional 63,000 square feet permitted, and 337 multi-family housing units (Latitude at Presidio apartments). Presidio Phase II is a future mixed-use development just north of the subject property; situated on 250+ acres. Located in a dense residential neighborhood, the population exceeds 65,170 residents within a three-mile radius and 192,673 residents within a five-mile radius. The Shops at Presidio benefits from close proximity to several school campuses: Vista Ridge High School, Henry Middle School, and Reagan Elementary School. National and regional retailers in the nearby area include H-E-B Grocery, The Home Depot, Walmart, Starbucks, Costco, Whole Foods, Nordstrom Rack, Dicks Sporting Goods, Grove Wine Bar & Kitchen, Hopdoddy, Jack Allen's Kitchen, Moonshine Grill, Bank of America, Whataburger, Academy Sports and Outdoors, Rosa’s Café, Target, Cinemark, Natural Grocers, PetSmart, and more.

Investment Highlights

  • 24,031-Square-Foot, Multi-Tenant Retail Center Located in a High-Growth Suburb of Austin | 100% Occupied | All Leases are Triple-Net
  • Part of a 25-Acre Master Planned Mixed-Use Development Containing 337 Multi-Family Units; 60,000 Square Feet of Current Office Space; and an Additional 63,000 Square Feet of Permitted Office Space
  • Tenant Base is a Complementary Mix of Internet-Resistant, National and Local Retailers
  • Steady Year-over-Year Income Growth Potential Due to Scheduled Rent Bumps and Percentage Rent Income
  • Located at the Signalized, Hard Corner of West Parmer Lane and Ranch Trails | Traffic Counts in Front of the Property Exceed 37,000 Vehicles per Day

Exclusively Listed By

Shopping Strip

Shops at Presidio

Listing Price: $17,842,000

Cap Rate
5.00%
Gross SF
24,031
Rentable SF
24,031
Price/Gross SF
$742.46
Lot Size
4.20 acres
Year Built
2018

Investment Highlights

  • 24,031-Square-Foot, Multi-Tenant Retail Center Located in a High-Growth Suburb of Austin | 100% Occupied | All Leases are Triple-Net
  • Part of a 25-Acre Master Planned Mixed-Use Development Containing 337 Multi-Family Units; 60,000 Square Feet of Current Office Space; and an Additional 63,000 Square Feet of Permitted Office Space
  • Tenant Base is a Complementary Mix of Internet-Resistant, National and Local Retailers
  • Steady Year-over-Year Income Growth Potential Due to Scheduled Rent Bumps and Percentage Rent Income
  • Located at the Signalized, Hard Corner of West Parmer Lane and Ranch Trails | Traffic Counts in Front of the Property Exceed 37,000 Vehicles per Day

Investment Overview

The Shops at Presidio is a 24,031-square-foot, multi-tenant retail center located in a dense residential area of Cedar Park, Texas. Constructed in 2018, the center is situated on a 4.2-acre parcel and is comprised of one multi-tenant building and one single-tenant building. The center is 100 percent leased, and all leases are triple-net. Tenants are a complementary mix of restaurants and service-oriented businesses, including Verizon Wireless, Mandola's Italian Market, Best in Class Education Center, Swish Dental, The UPS Store, Barre3, Sap's Fine Thai Cuisine, Lavish Nails & Spa, and Rumble Boxing. The Shops at Presidio is located on the signalized, hard corner of West Parmer Lane and Ranch Trails. Traffic counts exceed 37,000 vehicles per day in front of the property. The subject property is part of a 25-acre master planned mixed-use development that includes roughly 60,000 square feet of office space currently with an additional 63,000 square feet permitted, and 337 multi-family housing units (Latitude at Presidio apartments). Presidio Phase II is a future mixed-use development just north of the subject property; situated on 250+ acres. Located in a dense residential neighborhood, the population exceeds 65,170 residents within a three-mile radius and 192,673 residents within a five-mile radius. The Shops at Presidio benefits from close proximity to several school campuses: Vista Ridge High School, Henry Middle School, and Reagan Elementary School. National and regional retailers in the nearby area include H-E-B Grocery, The Home Depot, Walmart, Starbucks, Costco, Whole Foods, Nordstrom Rack, Dicks Sporting Goods, Grove Wine Bar & Kitchen, Hopdoddy, Jack Allen's Kitchen, Moonshine Grill, Bank of America, Whataburger, Academy Sports and Outdoors, Rosa’s Café, Target, Cinemark, Natural Grocers, PetSmart, and more.

Exclusively Listed By

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