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Shopping Strip

Victory Shops Tate Plaza

1231 William D Tate Ave, Grapevine, TX 76051

Listing Price: $3,964,500

Cap Rate
6.00%
Gross SF
8,675
Rentable SF
8,675
Price/Gross SF
$457.00
Lot Size
1.56 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire an 8,675-square-foot, multi-tenant retail center located in Grapevine, Texas. Victory Shops Tate Plaza is 100 percent occupied, and all leases are triple-net leases. The center has a complementary mix of internet-resistant tenants, including Smoothie King, Tint World, Lenny's Subs, and True Dental. True Dental recently executed a five-year lease renewal. Additional income is derived from a cell tower lease with T-Mobile. Recent property improvements include the installation of a new roof in 2019. The building was originally constructed in 2006 and is situated on a 1.56-acre parcel. A double-sided monument sign faces William D. Tate Avenue, providing additional exposure to the center. Victory Shops Tate Plaza is located on William D. Tate Avenue, near the intersection of William D. Tate Avenue and State Highway 114. Traffic counts in front of the property exceed 19,100 vehicles per day. The center is strategically located a dense retail trade area near many national and regional retailers, including Target, Big Lots!, Ross Dress for Less, Petco, Joann Fabrics & Crafts, Eatzi's Bakery & Market, Academy Sports & Outdoors, Best Buy, Sam's Club, Chick-fil-A, In-In-Out Burger, P.F. Chang's, and many more. Victory Shops Tate Plaza is located one mile from Baylor Scott & White - Grapevine, a full-service teaching hospital serving more than 302 beds. The property is less than four miles from both Dallas-Fort Worth International Airport and Southlake Town Square. Dallas-Fort Worth International Airport is the third-busiest airport in the world and two-thirds of the airport, including all terminal buildings, are located within Grapevine city limits. Southlake Town Square offers a unique, open-air lifestyle shopping district with more than 120 shops and fine restaurants whose reputation has been recognized throughout the country. The surrounding area has desirable demographics, with a five-mile average household income of approximately $145,841 and the five-mile population exceeding 125,432 residents.

Investment Highlights

  • 8,675-Square-Foot, Multi-Tenant Shopping Center Located in a Dense Retail Trade Area
  • 100% Occupied with Internet-Resistant Tenants | All Current Leases are Triple-Net
  • True Dental Recently Executed a Five-Year Lease Renewal
  • Constructed in 2006 | Attractive Architectural Design | Property Improvements Include a New Roof Installed in Late 2019 | Double-Sided Pylon Sign Provides Additional Exposure to the Center

Exclusively Listed By

Shopping Strip

Victory Shops Tate Plaza

Listing Price: $3,964,500

Cap Rate
6.00%
Gross SF
8,675
Rentable SF
8,675
Price/Gross SF
$457.00
Lot Size
1.56 acres
Year Built
2006

Investment Highlights

  • 8,675-Square-Foot, Multi-Tenant Shopping Center Located in a Dense Retail Trade Area
  • 100% Occupied with Internet-Resistant Tenants | All Current Leases are Triple-Net
  • True Dental Recently Executed a Five-Year Lease Renewal
  • Constructed in 2006 | Attractive Architectural Design | Property Improvements Include a New Roof Installed in Late 2019 | Double-Sided Pylon Sign Provides Additional Exposure to the Center

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire an 8,675-square-foot, multi-tenant retail center located in Grapevine, Texas. Victory Shops Tate Plaza is 100 percent occupied, and all leases are triple-net leases. The center has a complementary mix of internet-resistant tenants, including Smoothie King, Tint World, Lenny's Subs, and True Dental. True Dental recently executed a five-year lease renewal. Additional income is derived from a cell tower lease with T-Mobile. Recent property improvements include the installation of a new roof in 2019. The building was originally constructed in 2006 and is situated on a 1.56-acre parcel. A double-sided monument sign faces William D. Tate Avenue, providing additional exposure to the center. Victory Shops Tate Plaza is located on William D. Tate Avenue, near the intersection of William D. Tate Avenue and State Highway 114. Traffic counts in front of the property exceed 19,100 vehicles per day. The center is strategically located a dense retail trade area near many national and regional retailers, including Target, Big Lots!, Ross Dress for Less, Petco, Joann Fabrics & Crafts, Eatzi's Bakery & Market, Academy Sports & Outdoors, Best Buy, Sam's Club, Chick-fil-A, In-In-Out Burger, P.F. Chang's, and many more. Victory Shops Tate Plaza is located one mile from Baylor Scott & White - Grapevine, a full-service teaching hospital serving more than 302 beds. The property is less than four miles from both Dallas-Fort Worth International Airport and Southlake Town Square. Dallas-Fort Worth International Airport is the third-busiest airport in the world and two-thirds of the airport, including all terminal buildings, are located within Grapevine city limits. Southlake Town Square offers a unique, open-air lifestyle shopping district with more than 120 shops and fine restaurants whose reputation has been recognized throughout the country. The surrounding area has desirable demographics, with a five-mile average household income of approximately $145,841 and the five-mile population exceeding 125,432 residents.

Exclusively Listed By

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