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Shopping Strip

Dollar General Retail Center

1818 9th St, Wichita Falls, TX 76301

Listing Price: $1,400,000

Cap Rate
5.57%
Gross SF
18,938
Rentable SF
18,938
Price/Gross SF
$73.93
Lot Size
1.85 acres
Year Built
1964

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, 18,938-square-foot, multi-tenant retail center in Wichita Falls, Texas. The property is currently 55 percent occupied, anchored by Dollar General. The tenant executed a 10-year lease in 2021, and includes four, five-year options for renewal with scheduled rent escalations at the beginning of each option period. Dollar General pays a fixed amount towards common area maintenance expenses, with scheduled increases every five years. The building is situated on 1.85 acres with ample parking. Dollar General Retail Center is located at the hard corner of Ninth Street and Denver Street. Cumulative traffic counts in front of the property exceed 8,415 vehicles per day. The property is located near many national and regional retailers including Walgreens, Family Dollar, Uhaul, Sonic, O'Reilly Auto Parts, IHOP, McDonald's, and more. Dollar General Retail Center is located less than one mile from United Regional Health Care System. The hospital provides comprehensive medical care including inpatient and outpatient services, advanced diagnostics, surgical specialties, and life-saving emergency care to a nine-county service area. United Regional is the area's only Level II Trauma Center and serves as the Primary Stroke Center for the region. The subject property is less than three miles from Midwestern State University, having an estimated enrollment of 6,000 students. The university is one of four independent public universities in Texas and is the state's only public institution focused on liberal arts.

Investment Highlights

  • 18,938-Square-Foot, Multi-Tenant Retail Center
  • Value-Add Opportunity | Currently 55% Occupied | Pro Forma Cap Rate is 12.25%
  • Priced at $74 per Square Foot
  • Nine Years Remaining on the Original Term with Four, Five-Year Options to Renew at Scheduled Rent Increases

Exclusively Listed By

Shopping Strip

Dollar General Retail Center

Listing Price: $1,400,000

Cap Rate
5.57%
Gross SF
18,938
Rentable SF
18,938
Price/Gross SF
$73.93
Lot Size
1.85 acres
Year Built
1964

Investment Highlights

  • 18,938-Square-Foot, Multi-Tenant Retail Center
  • Value-Add Opportunity | Currently 55% Occupied | Pro Forma Cap Rate is 12.25%
  • Priced at $74 per Square Foot
  • Nine Years Remaining on the Original Term with Four, Five-Year Options to Renew at Scheduled Rent Increases

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, 18,938-square-foot, multi-tenant retail center in Wichita Falls, Texas. The property is currently 55 percent occupied, anchored by Dollar General. The tenant executed a 10-year lease in 2021, and includes four, five-year options for renewal with scheduled rent escalations at the beginning of each option period. Dollar General pays a fixed amount towards common area maintenance expenses, with scheduled increases every five years. The building is situated on 1.85 acres with ample parking. Dollar General Retail Center is located at the hard corner of Ninth Street and Denver Street. Cumulative traffic counts in front of the property exceed 8,415 vehicles per day. The property is located near many national and regional retailers including Walgreens, Family Dollar, Uhaul, Sonic, O'Reilly Auto Parts, IHOP, McDonald's, and more. Dollar General Retail Center is located less than one mile from United Regional Health Care System. The hospital provides comprehensive medical care including inpatient and outpatient services, advanced diagnostics, surgical specialties, and life-saving emergency care to a nine-county service area. United Regional is the area's only Level II Trauma Center and serves as the Primary Stroke Center for the region. The subject property is less than three miles from Midwestern State University, having an estimated enrollment of 6,000 students. The university is one of four independent public universities in Texas and is the state's only public institution focused on liberal arts.

Exclusively Listed By

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