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Shopping Strip

Central Square

1701-1833 Airport Fwy, Bedford, TX 76021

Listing Price: $8,638,000

Cap Rate
7.34%
Gross SF
46,440
Rentable SF
46,440
Price/Gross SF
$186.00
Lot Size
3.96 acres
Year Built
1984

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 46,440-square-foot, multi-tenant retail center with freeway visibility in Bedford, Texas. Central Square features a complementary mix of internet-resistant, service-oriented tenants including Tower Loan, Express Employment Professionals, Toadies Bar and Grill, Monarch Dental, China Town Restaurant, Glad Lash, Carter Blood Care, Massage Spa, Crossfit, Indian Restaurant, Ironside Martial Arts, Drengr Axe Throwing, and Bourbon Street Bar & Grill. The center is currently 96 percent occupied with 92 percent of the gross leasable area having triple-net leases, providing future upside potential to an investor. Central Square was originally constructed in 1984 and is situated on a 3.96-acre parcel with ample concrete parking.

Central Square is located on the frontage road of Texas 183 on Airport Freeway/Highway 121 and benefits from excellent freeway visibility. Traffic counts in front of the property exceed 168,684 vehicles per day. The center is located in a prime retail trade area and is surrounded by many national and regional retailers, including Texas Harley-Davidson, Buffalo Wild Wings, Cheddars, Starbucks, McDonald's, Supercuts, Jason's Deli, Albertsons, GNC, Burger King, Spring Creek Barbeque, Walmart Neighborhood Market, Sherwin-Williams, Panda Express, Chili's, and many more. Additional traffic comes from several hotel chains in the area, including Extended Stay America, Home2 Suites by Hilton, Courtyard by Marriott, and Super 8 Motels. The corporate headquarters for insurance company State National Companies is located directly behind the property and employs a staff of more than 400.

Investment Highlights

  • ?46,440 Square-Foot, Multi-Tenant Retail Center Located in the Densely Populated DFW Suburb of Bedford, Texas
  • 96% Occupied | 92% of the Gross Leasable Area has Triple-Net Leases | Upside Potential
  • Current Average Rents are Below Market
  • Desirable Freeway Location in a Highly Affluent, Densely Populated Area | More than 259,600 Residents Within a Five-Mile Radius and an Average Household Income Exceeding $104,116 Annually
  • Extremely High Traffic Counts of Approximately 168,864 Vehicles per Day on Highway 183/Airport Freeway in Front of the Property

Exclusively Listed By

Shopping Strip

Central Square

Listing Price: $8,638,000

Cap Rate
7.34%
Gross SF
46,440
Rentable SF
46,440
Price/Gross SF
$186.00
Lot Size
3.96 acres
Year Built
1984

Investment Highlights

  • ?46,440 Square-Foot, Multi-Tenant Retail Center Located in the Densely Populated DFW Suburb of Bedford, Texas
  • 96% Occupied | 92% of the Gross Leasable Area has Triple-Net Leases | Upside Potential
  • Current Average Rents are Below Market
  • Desirable Freeway Location in a Highly Affluent, Densely Populated Area | More than 259,600 Residents Within a Five-Mile Radius and an Average Household Income Exceeding $104,116 Annually
  • Extremely High Traffic Counts of Approximately 168,864 Vehicles per Day on Highway 183/Airport Freeway in Front of the Property

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 46,440-square-foot, multi-tenant retail center with freeway visibility in Bedford, Texas. Central Square features a complementary mix of internet-resistant, service-oriented tenants including Tower Loan, Express Employment Professionals, Toadies Bar and Grill, Monarch Dental, China Town Restaurant, Glad Lash, Carter Blood Care, Massage Spa, Crossfit, Indian Restaurant, Ironside Martial Arts, Drengr Axe Throwing, and Bourbon Street Bar & Grill. The center is currently 96 percent occupied with 92 percent of the gross leasable area having triple-net leases, providing future upside potential to an investor. Central Square was originally constructed in 1984 and is situated on a 3.96-acre parcel with ample concrete parking. Central Square is located on the frontage road of Texas 183 on Airport Freeway/Highway 121 and benefits from excellent freeway visibility. Traffic counts in front of the property exceed 168,684 vehicles per day. The center is located in a prime retail trade area and is surrounded by many national and regional retailers, including Texas Harley-Davidson, Buffalo Wild Wings, Cheddars, Starbucks, McDonald's, Supercuts, Jason's Deli, Albertsons, GNC, Burger King, Spring Creek Barbeque, Walmart Neighborhood Market, Sherwin-Williams, Panda Express, Chili's, and many more. Additional traffic comes from several hotel chains in the area, including Extended Stay America, Home2 Suites by Hilton, Courtyard by Marriott, and Super 8 Motels. The corporate headquarters for insurance company State National Companies is located directly behind the property and employs a staff of more than 400.

Exclusively Listed By

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