Shopping Strip

Millennium Towers

3709 Gregory St, Wichita Falls, TX 76308

Listing Price: $4,346,000

Cap Rate
9.00%
Gross SF
40,000
Rentable SF
40,000
Price/Gross SF
$108.65
Lot Size
2.65 acres
Year Built
2000

Investment Overview

Millennium Towers is a stabilized 40,000-square foot, multi-tenant retail center well positioned in a major retail trade area of Wichita Falls, Texas. The center is 100 percent occupied with a complementary mix of service-oriented, internet resistant tenants including Trinity Fellowship Church, Whiskeyta Club, Looking Good Salon, Texas Blood Institute, The Loft Marketplace, and Texas DARS – Blind Services. The majority of the leases have options for renewal, and 73 percent of the gross leasable area has triple-net leases. Constructed in 2000, the building has an attractive exterior and is situated on a 2.65-acre lot with paved parking. The subject property sits between Gregory Street and Tarry Street just south of US Highway 82, one of the major thoroughfares in the city. The property is easily accessible from multiple ingress and egress points and is strategically located in one of the primary retail trade areas of the city. Numerous national and regional retailers neighbor the property, including ALDI, The Home Depot, Lowe’s Home Improvement, Walmart Supercenter, Sam’s Club, Planet Fitness, Jack in the Box, Texas Roadhouse, Bed Bath & Beyond, Ulta Beauty, PetSmart, Kirkland’s, Academy Sports and Outdoors, James Avery Jewelry, Kohl’s, TJ Maxx, Ross Dress For Less, Shoe Carnival, and many others. Sikes Senter Mall is also in close proximity, the only mall within 100 miles of Wichita Falls. The mall features more than 100 tenants and is anchored by JCPenney, Dillards, and At Home. Midwesten State University, with an estimated enrollment of 6,000 students, is less than two-miles from Millennium Towers.

Investment Highlights

  • 100% Occupied | 73% of the Gross Leasable Area has Triple-Net Leases
  • Building is 2000 Construction | Situated on 2.65 Acres | Concrete Parking Lot
  • Average Rents are Well Below Market | Complementary Mix of Service-Oriented, Internet Resistant Businesses

Exclusively Listed By

Listing Price: $4,346,000

Cap Rate
9.00%
Gross SF
40,000
Rentable SF
40,000
Price/Gross SF
$108.65
Lot Size
2.65 acres
Year Built
2000

Investment Highlights

  • 100% Occupied | 73% of the Gross Leasable Area has Triple-Net Leases
  • Building is 2000 Construction | Situated on 2.65 Acres | Concrete Parking Lot
  • Average Rents are Well Below Market | Complementary Mix of Service-Oriented, Internet Resistant Businesses

Investment Overview

Millennium Towers is a stabilized 40,000-square foot, multi-tenant retail center well positioned in a major retail trade area of Wichita Falls, Texas. The center is 100 percent occupied with a complementary mix of service-oriented, internet resistant tenants including Trinity Fellowship Church, Whiskeyta Club, Looking Good Salon, Texas Blood Institute, The Loft Marketplace, and Texas DARS – Blind Services. The majority of the leases have options for renewal, and 73 percent of the gross leasable area has triple-net leases. Constructed in 2000, the building has an attractive exterior and is situated on a 2.65-acre lot with paved parking. The subject property sits between Gregory Street and Tarry Street just south of US Highway 82, one of the major thoroughfares in the city. The property is easily accessible from multiple ingress and egress points and is strategically located in one of the primary retail trade areas of the city. Numerous national and regional retailers neighbor the property, including ALDI, The Home Depot, Lowe’s Home Improvement, Walmart Supercenter, Sam’s Club, Planet Fitness, Jack in the Box, Texas Roadhouse, Bed Bath & Beyond, Ulta Beauty, PetSmart, Kirkland’s, Academy Sports and Outdoors, James Avery Jewelry, Kohl’s, TJ Maxx, Ross Dress For Less, Shoe Carnival, and many others. Sikes Senter Mall is also in close proximity, the only mall within 100 miles of Wichita Falls. The mall features more than 100 tenants and is anchored by JCPenney, Dillards, and At Home. Midwesten State University, with an estimated enrollment of 6,000 students, is less than two-miles from Millennium Towers.

Exclusively Listed By

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