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Shopping Strip

Shops at Leander

2906 S Bagdad Rd, Leander, TX 78641

Listing Price: $12,950,000

Cap Rate
3.97%
Gross SF
37,233
Rentable SF
37,233
Price/Gross SF
$347.81
Lot Size
3.15 acres
Year Built
2016

Investment Overview

The Shops at Leander is located just off Highway 183 on South Bagdad Road. The subject property benefits from high traffic counts on both South Bagdad Road with over 15,000 vehicles per day and Highway 183 with over 31,000 vehicles per day. Leander has a booming population that has continued to grow year over year. The current estimated population is 78,525 within 3-miles and 161,947 within 5-miles. The projected 5-year population growth for the area is over 11%. The city is known for its safe neighborhoods, excellent schools, and a strong sense of community. Leander High School is directly across the street from The Shops at Leander. The school ranks in the top 25% of all public high schools in Texas and has 2,200 enrolled students. Leander, Texas, is a rapidly growing city located just north of Austin in Williamson County. Known for its family-friendly atmosphere, excellent schools within the Leander Independent School District, and a strong sense of community, it’s a popular choice for families and professionals alike. The city is well-connected via major highways and serves as the northernmost stop for the Capital MetroRail, providing easy access to downtown Austin. Leander is currently experiencing substantial residential and retail developments with four major projects currently under construction or about to break ground. There are currently over 870 total residential units under construction. Northline Development is a game-changing 116-acre mixed-use project that will transform Leander's downtown district while Topo Retail Development is a $48 million project on Crystal Falls Parkway that will add 155,000 square-feet of retail, restaurant, and office space.

Investment Highlights

  • 37,233-Square-Foot Retail Center | Comprised of Four Multi-Tenant Buildings
  • Majority of Leases have Healthy Rent Escalations to Help Hedge Against Inflation
  • 2015/2016 Construction Featuring a Newer Facade | One End Cap Suite has a Drive-Thru Window
  • Value-Add Opportunity | 70% Occupied | Significant Upside Potential in Leasing Vacant Suites
  • Current Rents are 27% Below Market, Offering Significant Upside by Moving Rents to Market
  • Surrounded by Residential Areas along with Multiple National and Local Retailers Including Walmart, H-E-B, Whole Foods, Costco, and More
  • Densely Populated Area with Approximately 183,800 Residents within 5-Miles | Average Household Income for the City of Leander is $157,371
  • Positioned Across the Street from Leander High School | Ranked in the 25% of Public High Schools In Texas with 2,200 Enrolled Students

Exclusively Listed By

Shopping Strip

Shops at Leander

Listing Price: $12,950,000

Cap Rate
3.97%
Gross SF
37,233
Rentable SF
37,233
Price/Gross SF
$347.81
Lot Size
3.15 acres
Year Built
2016

Investment Highlights

  • 37,233-Square-Foot Retail Center | Comprised of Four Multi-Tenant Buildings
  • Majority of Leases have Healthy Rent Escalations to Help Hedge Against Inflation
  • 2015/2016 Construction Featuring a Newer Facade | One End Cap Suite has a Drive-Thru Window
  • Value-Add Opportunity | 70% Occupied | Significant Upside Potential in Leasing Vacant Suites
  • Current Rents are 27% Below Market, Offering Significant Upside by Moving Rents to Market
  • Surrounded by Residential Areas along with Multiple National and Local Retailers Including Walmart, H-E-B, Whole Foods, Costco, and More
  • Densely Populated Area with Approximately 183,800 Residents within 5-Miles | Average Household Income for the City of Leander is $157,371
  • Positioned Across the Street from Leander High School | Ranked in the 25% of Public High Schools In Texas with 2,200 Enrolled Students

Investment Overview

The Shops at Leander is located just off Highway 183 on South Bagdad Road. The subject property benefits from high traffic counts on both South Bagdad Road with over 15,000 vehicles per day and Highway 183 with over 31,000 vehicles per day. Leander has a booming population that has continued to grow year over year. The current estimated population is 78,525 within 3-miles and 161,947 within 5-miles. The projected 5-year population growth for the area is over 11%. The city is known for its safe neighborhoods, excellent schools, and a strong sense of community. Leander High School is directly across the street from The Shops at Leander. The school ranks in the top 25% of all public high schools in Texas and has 2,200 enrolled students. Leander, Texas, is a rapidly growing city located just north of Austin in Williamson County. Known for its family-friendly atmosphere, excellent schools within the Leander Independent School District, and a strong sense of community, it’s a popular choice for families and professionals alike. The city is well-connected via major highways and serves as the northernmost stop for the Capital MetroRail, providing easy access to downtown Austin. Leander is currently experiencing substantial residential and retail developments with four major projects currently under construction or about to break ground. There are currently over 870 total residential units under construction. Northline Development is a game-changing 116-acre mixed-use project that will transform Leander's downtown district while Topo Retail Development is a $48 million project on Crystal Falls Parkway that will add 155,000 square-feet of retail, restaurant, and office space.

Exclusively Listed By

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