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Shopping Strip

Main Street Plaza

205 S Main St, Red Oak, TX 75154

Listing Price: $5,800,000

Cap Rate
6.76%
Gross SF
42,915
Rentable SF
42,915
Price/Gross SF
$135.15
Lot Size
3.46 acres
Year Built
2005

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a value-add, multi-tenant retail shopping center located in the Dallas suburb of Red Oak, Texas. The subject property consists of six multi-tenant buildings totaling 42,915 square feet of leasable area. Main Street Plaza is currently 72 percent occupied, and all leases are triple-net. The center has a complementary mix of internet-resistant, service-oriented tenants including, Beyond Nails, Mr. Jim's Pizza, 342 Bar & Grill, HSG Healthy Hair Studios, Sylvan Leaning Center, Red Oak Donuts, Dance Xpressions, Kids University, Believers City Church, and Gravy Restaurant. Constructed in 2005, the buildings feature metal roofs and decorative metal awnings. The property is situated on approximately X acres with ample paved parking, and a doubled-sided monument sign provides additional exposure to the center.

The subject property is situated on the west side of South Central Boulevard and benefits from two signalized intersections at Main Street and Eagle Drive. Main Street Plaza is located directly across from Red Oak High School, providing additional traffic to the area. Red Oak High School is a 5A high school with an enrollment of more than 2,019 students. The center is in close proximity to Texas State Technical College, Red Oak campus. Texas State Technical College is a public community college with ten campuses throughout Texas and a total estimated enrollment of more than 10,107 students. Adjacent to the property is Whataburger, Fuzzy's Taco Shop, and Chevron gas station. The surrounding area has desirable demographics of 81,427 residents within five miles and a five-mile household income exceeding $94,652.

Investment Highlights

  • 42,915-Square-Foot, Value-Add, Multi-Tenant Retail Center
  • Upside Potential | 72% Occupied with Triple-Net Leases | Pro Forma Cap Rate is 11.70%
  • Current Average Rents are Significantly Below Market
  • Property Consists of Six Multi-Tenant Buildings with Ample Concrete Parking | Double-Sided Monument Sign at the Property Entrance Enhances Visibility | All Buildings Have Metal Roofs
  • Desirable Demographics | Affluent Surrounding Community with an Average Household Income of $94,652 within a Five-Mile Radius | Population Exceeds 81,427 Residents Within Five Miles

Exclusively Listed By

Shopping Strip

Main Street Plaza

Listing Price: $5,800,000

Cap Rate
6.76%
Gross SF
42,915
Rentable SF
42,915
Price/Gross SF
$135.15
Lot Size
3.46 acres
Year Built
2005

Investment Highlights

  • 42,915-Square-Foot, Value-Add, Multi-Tenant Retail Center
  • Upside Potential | 72% Occupied with Triple-Net Leases | Pro Forma Cap Rate is 11.70%
  • Current Average Rents are Significantly Below Market
  • Property Consists of Six Multi-Tenant Buildings with Ample Concrete Parking | Double-Sided Monument Sign at the Property Entrance Enhances Visibility | All Buildings Have Metal Roofs
  • Desirable Demographics | Affluent Surrounding Community with an Average Household Income of $94,652 within a Five-Mile Radius | Population Exceeds 81,427 Residents Within Five Miles

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a value-add, multi-tenant retail shopping center located in the Dallas suburb of Red Oak, Texas. The subject property consists of six multi-tenant buildings totaling 42,915 square feet of leasable area. Main Street Plaza is currently 72 percent occupied, and all leases are triple-net. The center has a complementary mix of internet-resistant, service-oriented tenants including, Beyond Nails, Mr. Jim's Pizza, 342 Bar & Grill, HSG Healthy Hair Studios, Sylvan Leaning Center, Red Oak Donuts, Dance Xpressions, Kids University, Believers City Church, and Gravy Restaurant. Constructed in 2005, the buildings feature metal roofs and decorative metal awnings. The property is situated on approximately X acres with ample paved parking, and a doubled-sided monument sign provides additional exposure to the center. The subject property is situated on the west side of South Central Boulevard and benefits from two signalized intersections at Main Street and Eagle Drive. Main Street Plaza is located directly across from Red Oak High School, providing additional traffic to the area. Red Oak High School is a 5A high school with an enrollment of more than 2,019 students. The center is in close proximity to Texas State Technical College, Red Oak campus. Texas State Technical College is a public community college with ten campuses throughout Texas and a total estimated enrollment of more than 10,107 students. Adjacent to the property is Whataburger, Fuzzy's Taco Shop, and Chevron gas station. The surrounding area has desirable demographics of 81,427 residents within five miles and a five-mile household income exceeding $94,652.

Exclusively Listed By

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