Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 15,964-square-foot, multi-tenant retail center located in Alice, Texas. Alice Shopping Center is 100 percent leased, and all leases are triple-net. Anchored by a top-ranking Hibbett Sports, the tenant base is a complementary mix of internet-resistant, service-oriented businesses, including Dental World, LA Nails, Vape City, and Wingstop. Approximately 75 percent of the gross leasable area is leased to tenants that have been in the center since originally developed. Constructed in 2007, the property is situated on a 1.45-acre parcel. Alice Shopping Center is located on Main Street (Highway 44), a major thoroughfare in the city, with multiple ingress and egress points. Traffic counts in front of the property exceed 19,889 vehicles per day. Shadow-anchored by Walmart Supercenter, the subject property is near other numerous national and regional retailers including, AT&T, Aaron's, GameStop, IHOP, Chili's, Starbucks, Long John Silvers, AutoZone, Dollar General, Pizza Hut, Rent-A-Center, Harbor Freight Tools, Subway, Burger King, Sutherland's, McDonald's, Prosperity Bank, EZ Pawn, Domino's, Sherwin Williams, H-E-B grocery store, Family Dollar, Dairy Queen, and many more. Several schools and hotels are in close proximity, providing additional traffic to the area. The surrounding area benefits from strong demographics with an average household income of $98,588 within one mile; $60,410 within three miles; and $61,736 within five miles.