Shopping Strip

Town & Country Shopping Center

1000 N Midkiff Rd, Midland, TX 79701

Listing Price: $11,700,000

Cap Rate
7.31%
Gross SF
91,930
Rentable SF
91,930
Price/Gross SF
$127.27
Lot Size
9.31 acres
Year Built
1959

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 91,930-square foot neighborhood retail center. Town & Country Shopping Center is currently 100 percent occupied with 87 percent of the gross leasable area having credit tenants. The center is comprised of two multi-tenant buildings and two single-tenant buildings. Anchored by Planet Fitness, other tenants include Harbor Freight Tools, Little Caesars Pizza, Cloud City Vape Shop, TOE Driving, Popcorn Premiere, The Zen Spot, Footy Rooty, Kool Smiles, O'Reilly Auto Parts, T&C Barbershop and Loosends. All current leases are triple-net, and rental rates are below market. Additional income for the center is derived from Watermill Kiosk, food trailers and a no fence agreement. The center sits on 9.3 acres and was originally constructed in 1959 with renovations in 1985. Recent property improvements include approximately $500,000 in roof replacement. The parcel includes a pad site for future development, providing potential upside to an investor.

Investment Highlights

  • 100% Occupied, 91,930-Square Foot Neighborhood Retail Center
  • 100% of the Leases are Triple-Net | 87% of the Gross Leasable Area has Credit Tenants
  • Anchored by Planet Fitness (36% of the Gross Leasable Area) | Tenant is the Largest Franchisee for Planet Fitness | This Location Has Been One of the Company's Top Performing Stores Since Opening
  • Recent Property Improvements Include Roughly $500,000 in Roof Replacement

Exclusively Listed By

Shopping Strip

Town & Country Shopping Center

Listing Price: $11,700,000

Cap Rate
7.31%
Gross SF
91,930
Rentable SF
91,930
Price/Gross SF
$127.27
Lot Size
9.31 acres
Year Built
1959

Investment Highlights

  • 100% Occupied, 91,930-Square Foot Neighborhood Retail Center
  • 100% of the Leases are Triple-Net | 87% of the Gross Leasable Area has Credit Tenants
  • Anchored by Planet Fitness (36% of the Gross Leasable Area) | Tenant is the Largest Franchisee for Planet Fitness | This Location Has Been One of the Company's Top Performing Stores Since Opening
  • Recent Property Improvements Include Roughly $500,000 in Roof Replacement

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 91,930-square foot neighborhood retail center. Town & Country Shopping Center is currently 100 percent occupied with 87 percent of the gross leasable area having credit tenants. The center is comprised of two multi-tenant buildings and two single-tenant buildings. Anchored by Planet Fitness, other tenants include Harbor Freight Tools, Little Caesars Pizza, Cloud City Vape Shop, TOE Driving, Popcorn Premiere, The Zen Spot, Footy Rooty, Kool Smiles, O'Reilly Auto Parts, T&C Barbershop and Loosends. All current leases are triple-net, and rental rates are below market. Additional income for the center is derived from Watermill Kiosk, food trailers and a no fence agreement. The center sits on 9.3 acres and was originally constructed in 1959 with renovations in 1985. Recent property improvements include approximately $500,000 in roof replacement. The parcel includes a pad site for future development, providing potential upside to an investor.

Exclusively Listed By

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