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Shopping Strip

Tower Plaza

8509 Davis Blvd, North Richland Hills, TX 76182

Listing Price: $4,900,000

Cap Rate
6.22%
Gross SF
17,100
Rentable SF
17,100
Price/Gross SF
$286.55
Lot Size
2.48 acres
Year Built
2006

Investment Overview

Tower Plaza is a 17,100-square-foot, multi-tenant retail center located in a highly-affluent area of North Richland Hills, Texas. The center is currently 94 percent occupied with triple-net leases, providing upside potential by leasing the vacant suite. Tenants consist of a complementary mix of internet-resistant retailers including FedEx Kinko's, Mink Lash & Salon, Virago Nail Spa, Leslie's Pool Supplies, Jett Pizza, Kuhanas Restaurant, and Verizon Wireless. Constructed in 2006, the building is situated on a 2.488-acre lot. Tower Plaza is located on Davis Boulevard just north of North Tarrant Parkway. Traffic counts on Davis Boulevard are approximately 28,900 vehicles per day. The property is shadow-anchored by Walmart and near many other national retailers including Target, Walgreens, The UPS Store, AutoZone, Discount Tire, ALDI, Kroger, LA Fitness, CVS Pharmacy, Dollar Tree, Sonic, Chili's Grill & Bar, Chase Bank, Alamo Draft House, Starbucks, Bank of America, National Tire & Battery, and more. The surrounding area has excellent demographics; the one-mile average household income is $211,817, and the population is 234,987 residents within five miles of the property.

Investment Highlights

  • 17,100-Square-Foot, Multi-Tenant Retail Center Located in a Highly-Affluent Area
  • Shadow-Anchored by Walmart and Catty Corner from Target
  • Currently 94% Occupied | Upside Potential in Leasing Vacant Space
  • Verizon Recently Exercised a Five-Year Renewal
  • Surrounding Area has Excellent Demographics | Highly Affluent with a One-Mile Average Household Income of $211,817 | More than 234,987 Residents Within Five Miles of the Property

Exclusively Listed By

Financing By

Listing Price: $4,900,000

Cap Rate
6.22%
Gross SF
17,100
Rentable SF
17,100
Price/Gross SF
$286.55
Lot Size
2.48 acres
Year Built
2006

Investment Highlights

  • 17,100-Square-Foot, Multi-Tenant Retail Center Located in a Highly-Affluent Area
  • Shadow-Anchored by Walmart and Catty Corner from Target
  • Currently 94% Occupied | Upside Potential in Leasing Vacant Space
  • Verizon Recently Exercised a Five-Year Renewal
  • Surrounding Area has Excellent Demographics | Highly Affluent with a One-Mile Average Household Income of $211,817 | More than 234,987 Residents Within Five Miles of the Property

Investment Overview

Tower Plaza is a 17,100-square-foot, multi-tenant retail center located in a highly-affluent area of North Richland Hills, Texas. The center is currently 94 percent occupied with triple-net leases, providing upside potential by leasing the vacant suite. Tenants consist of a complementary mix of internet-resistant retailers including FedEx Kinko's, Mink Lash & Salon, Virago Nail Spa, Leslie's Pool Supplies, Jett Pizza, Kuhanas Restaurant, and Verizon Wireless. Constructed in 2006, the building is situated on a 2.488-acre lot. Tower Plaza is located on Davis Boulevard just north of North Tarrant Parkway. Traffic counts on Davis Boulevard are approximately 28,900 vehicles per day. The property is shadow-anchored by Walmart and near many other national retailers including Target, Walgreens, The UPS Store, AutoZone, Discount Tire, ALDI, Kroger, LA Fitness, CVS Pharmacy, Dollar Tree, Sonic, Chili's Grill & Bar, Chase Bank, Alamo Draft House, Starbucks, Bank of America, National Tire & Battery, and more. The surrounding area has excellent demographics; the one-mile average household income is $211,817, and the population is 234,987 residents within five miles of the property.

Exclusively Listed By

Financing By

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