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Shopping Strip

Parker Square Shopping Center

2901 Kemp Blvd, Wichita Falls, TX 76308

Listing Price: $14,000,000

Cap Rate
7.63%
Gross SF
94,532
Rentable SF
94,532
Price/Gross SF
$148.10
Lot Size
11.91 acres
Year Built
1955

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 94,532-square-foot, multi-tenant community center in a prime retail corridor of Wichita Falls, Texas. Parker Square Shopping Center is anchored by Crunch Fitness; other tenants include Wells Fargo Advisors, Sewn Clothing, Primp and Blow, Massage Envy, Jason's Deli, Elite Nail and Spa, The Carlson Law Firm, Dove's Jewelry, Tangles, NY Barber Shop, Intrepid USA Healthcare, Holders Jewelry, Menchies Yogurt Shop, Taki Ramen, Deatherage Optical, Lendmark Financial, CBD American Shaman, Vexus Fiber, and First United Bank. The center is 97 percent occupied, and all leases are triple-net. The shopping center is comprised of three multi-tenant buildings featuring attractive architecture, situated on a combined 11.91 acres with ample paved parking. Parker Square Shopping Center is located at the signalized hard corner of Kell E Boulevard (Highway 277 Access Road) and Kemp Boulevard. The center benefits from excellent freeway visibility with multiple ingress and egress points. Cumulative Traffic counts are approximately 26,829 vehicles per day in front of the property. The property is located in a dense retail trade area with numerous national and regional retailers in the surrounding area, including Starbucks, Wingstop, Applebee's, McDonald's, Bahama Buck's, Dairy Queen, Sonic Drive-In, Lowe's Home Improvement, ALDI, The Home Depot, Sam's Club, Walmart, Bed Bath & Beyond, ULTA Beauty, Five Below, Office Depot, Academy Sports & Outdoors, and many more. Sikes Center Mall is also in close proximity, the only mall within 100 miles of Wichita Falls. The mall features more than 100 tenants and is anchored by JCPenney, Dillard's, and Hibbett Sports. Midwestern State University, with an estimated enrollment of 6,000 students, is less than two miles from Parker Square Shopping Center.

Investment Highlights

  • 94,532-Square-Foot, Multi-Tenant Community Center | 97% Occupied | All Leases are Triple-Net
  • Anchored by Crunch Fitness (43% of the Gross Leasable Area) | Strong Tenant Base | 68% of the Gross Leasable Area is Leased to National or Regional Tenants
  • Property is Comprised of Three Multi-Tenant Buildings Situated on 11.91 Acres with Ample Paved Parking
  • Landlord Reports Roughly $80,000 in Recent Roof Replacement
  • Dense Retail Trade Area Featuring Numerous National Retailers | Less than One Mile from Sikes Center Mall | Anchored by JCPenney, Dillard's, and Hibbett Sports

Exclusively Listed By

Shopping Strip

Parker Square Shopping Center

Listing Price: $14,000,000

Cap Rate
7.63%
Gross SF
94,532
Rentable SF
94,532
Price/Gross SF
$148.10
Lot Size
11.91 acres
Year Built
1955

Investment Highlights

  • 94,532-Square-Foot, Multi-Tenant Community Center | 97% Occupied | All Leases are Triple-Net
  • Anchored by Crunch Fitness (43% of the Gross Leasable Area) | Strong Tenant Base | 68% of the Gross Leasable Area is Leased to National or Regional Tenants
  • Property is Comprised of Three Multi-Tenant Buildings Situated on 11.91 Acres with Ample Paved Parking
  • Landlord Reports Roughly $80,000 in Recent Roof Replacement
  • Dense Retail Trade Area Featuring Numerous National Retailers | Less than One Mile from Sikes Center Mall | Anchored by JCPenney, Dillard's, and Hibbett Sports

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 94,532-square-foot, multi-tenant community center in a prime retail corridor of Wichita Falls, Texas. Parker Square Shopping Center is anchored by Crunch Fitness; other tenants include Wells Fargo Advisors, Sewn Clothing, Primp and Blow, Massage Envy, Jason's Deli, Elite Nail and Spa, The Carlson Law Firm, Dove's Jewelry, Tangles, NY Barber Shop, Intrepid USA Healthcare, Holders Jewelry, Menchies Yogurt Shop, Taki Ramen, Deatherage Optical, Lendmark Financial, CBD American Shaman, Vexus Fiber, and First United Bank. The center is 97 percent occupied, and all leases are triple-net. The shopping center is comprised of three multi-tenant buildings featuring attractive architecture, situated on a combined 11.91 acres with ample paved parking. Parker Square Shopping Center is located at the signalized hard corner of Kell E Boulevard (Highway 277 Access Road) and Kemp Boulevard. The center benefits from excellent freeway visibility with multiple ingress and egress points. Cumulative Traffic counts are approximately 26,829 vehicles per day in front of the property. The property is located in a dense retail trade area with numerous national and regional retailers in the surrounding area, including Starbucks, Wingstop, Applebee's, McDonald's, Bahama Buck's, Dairy Queen, Sonic Drive-In, Lowe's Home Improvement, ALDI, The Home Depot, Sam's Club, Walmart, Bed Bath & Beyond, ULTA Beauty, Five Below, Office Depot, Academy Sports & Outdoors, and many more. Sikes Center Mall is also in close proximity, the only mall within 100 miles of Wichita Falls. The mall features more than 100 tenants and is anchored by JCPenney, Dillard's, and Hibbett Sports. Midwestern State University, with an estimated enrollment of 6,000 students, is less than two miles from Parker Square Shopping Center.

Exclusively Listed By

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