Skip to main content

Shopping Strip

Shops at Hero Way

11620 Hero Way W, Leander, TX 78641

Listing Price: $12,794,182

Cap Rate
6.00%
Gross SF
23,566
Rentable SF
23,566
Price/Gross SF
$542.91
Lot Size
2.93 acres
Year Built
2023

Investment Overview

Shops at Hero Way is a 100 percent occupied, 23,566-square-foot, multi-tenant retail center located in Leander, Texas (Austin MSA). Newly constructed in 2023, the subject property is comprised of two multi-tenant buildings featuring two drive-thrus, situated on a 2.93-acre parcel with ample concrete parking. Tenants are a complementary mix of national, regional and local retailers, including Jeremiah's Italian Ice, Results Physiotherapy, the UPS Store, VIP Nails, Top Barrel Liquor, Cheba Hut "Toasted" Subs, PJ's Coffee, Smile Fit Orthodontics, and Salons by JC. Two end cap suites, Jeremiah's Italian Ice and PJ's Coffee, have drive-thru windows. All leases are triple-net, 10-year leases (with the exception of one tenant), and all leases included schedule rent escalations during the primary terms.

The subject property is located on Hero Way West, near the intersection of U.S. Highway 183. The center benefits from multiple ingress and egress points and has traffic counts of 17,412 vehicles per day. Positioned around one-half mile of H-E-B plus!, the subject is surrounded by national and regional retailers including Whataburger, Chipotle Mexican Grill, Hand and Stone Massage and Facial Spa, Quest Diagnostics, Domino's, H&R Block, GameStop, Supercuts, Subway, Menchie's Frozen Yogurt, Chase Bank, T-Mobile, Chase Bank, Burger King, Taco Bell, and many more. The Metro Rail Leander Station and Austin Community College - San Gabriel campus are in close proximity, providing additional traffic to the area.

Investment Highlights

  • 23,566-Square-Foot Retail Center | Comprised of Two Multi-Tenant Buildings
  • New 2023 Construction Featuring a Modern Façade with Metal Awnings | Two End Cap Suites have Drive-Thru Windows
  • 100% Leased | All Leases are Triple-Net | All Except One Lease are New 10-Year Terms
  • All Leases have Rent Escalations and Options for Renewal | 100% of the GLA have Personally Guaranteed Leases
  • Highly Affluent Surrounding Area | Average Household Income for the City of Leander is $157,371

Exclusively Listed By

Shopping Strip

Shops at Hero Way

Listing Price: $12,794,182

Cap Rate
6.00%
Gross SF
23,566
Rentable SF
23,566
Price/Gross SF
$542.91
Lot Size
2.93 acres
Year Built
2023

Investment Highlights

  • 23,566-Square-Foot Retail Center | Comprised of Two Multi-Tenant Buildings
  • New 2023 Construction Featuring a Modern Façade with Metal Awnings | Two End Cap Suites have Drive-Thru Windows
  • 100% Leased | All Leases are Triple-Net | All Except One Lease are New 10-Year Terms
  • All Leases have Rent Escalations and Options for Renewal | 100% of the GLA have Personally Guaranteed Leases
  • Highly Affluent Surrounding Area | Average Household Income for the City of Leander is $157,371

Investment Overview

Shops at Hero Way is a 100 percent occupied, 23,566-square-foot, multi-tenant retail center located in Leander, Texas (Austin MSA). Newly constructed in 2023, the subject property is comprised of two multi-tenant buildings featuring two drive-thrus, situated on a 2.93-acre parcel with ample concrete parking. Tenants are a complementary mix of national, regional and local retailers, including Jeremiah's Italian Ice, Results Physiotherapy, the UPS Store, VIP Nails, Top Barrel Liquor, Cheba Hut "Toasted" Subs, PJ's Coffee, Smile Fit Orthodontics, and Salons by JC. Two end cap suites, Jeremiah's Italian Ice and PJ's Coffee, have drive-thru windows. All leases are triple-net, 10-year leases (with the exception of one tenant), and all leases included schedule rent escalations during the primary terms. The subject property is located on Hero Way West, near the intersection of U.S. Highway 183. The center benefits from multiple ingress and egress points and has traffic counts of 17,412 vehicles per day. Positioned around one-half mile of H-E-B plus!, the subject is surrounded by national and regional retailers including Whataburger, Chipotle Mexican Grill, Hand and Stone Massage and Facial Spa, Quest Diagnostics, Domino's, H&R Block, GameStop, Supercuts, Subway, Menchie's Frozen Yogurt, Chase Bank, T-Mobile, Chase Bank, Burger King, Taco Bell, and many more. The Metro Rail Leander Station and Austin Community College - San Gabriel campus are in close proximity, providing additional traffic to the area.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower