Investment Overview

Marcus & Millichap is pleased to exclusively present for sale Northlake Commons Buildings 4A, 4B, & 5, located at the northeast quadrant of Cleveland-Gibbs Road and FM 407 in Northlake, Texas. Northlake Commons Buildings 4A, 4B, & 5 comprises of three retail shopping centers that were built in 2022 that total 27,702 square feet of Class A leasable area. The retail centers available in this sale offering are structured as three separate condos within the greater Northlake Commons development that spans 10.89 acres at a main entrance of the Harvest by Hillwood master planned community. The three condos and their ownership share of the 10.89-acre plot of land are outlined below: Building 4A: 6.07 percent land ownership. Building address of 1611 Commons Circle, Northlake, Texas. Building 4B: 11.07 percent land ownership. Building address of 101 Plaza Place, Northlake, Texas. Building 5: 6.74 percent land ownership. Building address of 1485 Commons Circle, Northlake Texas. The Northlake Commons Buildings 4A, 4B, & 5 is offered for sale at $11,615,341, which is a 6.67 percent year one CAP Rate. The asset values and cash flow will appreciate each year due to leases structured with annual rent escalations, typically at increases of 2 percent per year. The Weighted Average Lease Term across the tenancy is 74 months. Northlake Commons Buildings 4A, 4B, & 5 features a diverse mix of internet-resistant tenants on triple net leases with staggered lease terms. Tenants include: Kumon, City of Northlake, Northlake Café, Bella Italia Bistro, Tequila Ranch Cocina, The Hive, and more. Tenants at the Subject Property have positioned themselves in this shopping center to capitalize on the booming growth continuing to happen in this market. In 2022, Northlake/Argyle saw an increase in population of greater than twenty percent.