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Shopping Strip

Silver Star Village

1110 FM1189, Millsap, TX 76066

Listing Price: $2,450,000

Cap Rate
7.86%
Gross SF
16,000
Rentable SF
16,000
Price/Gross SF
$153.12
Lot Size
6.00 acres
Year Built
2008

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 16,000-square-foot, multi-tenant retail center in Millsap, Texas. The offering consists of four multi-tenant buildings situated on approximately six acres; Landlord is currently in the process of re-parceling the land, so exact acreage is to be determined. The center is currently 100 percent occupied, and all leases are triple-net. The tenant base is a complementary mix of internet-resistant tenants including Clearfork Pharmacy, Mr. Jim's Pizza, Gregory Bratton MD, State Farm Insurance, Universal Dental Group, Cates Realty Group, Comfort Kitchens Restaurant, Hoofstock Genetics, Pronto Solutions, In-Hair-Itance Salon & Barber, Texas Title, and others. Silver Star Village was constructed in 2008 and features an attractive façade and landscaping, and all buildings have a metal roof. First Financial Bank is situated on a separate parcel in the middle of the center; the bank is not a part of the offering but does contribute towards the common area expenses. Silver Star Village is located on FM 1189 approximately one mile south of Interstate 20. Traffic counts in front of the property are approximately 1,300 vehicles per day. The center is in close proximity to many schools providing additional traffic to the area. The surrounding area has an affluent population; the average household income within a five-mile radius exceeds $108,150.

Investment Highlights

  • 16,000-Square-Foot, Multi-Tenant Retail Center | Offering is Comprised of Four Multi-Tenant Buildings
  • Center is 100 Percent Occupied
  • All Leases are Triple-Net | Landlord has Been Collecting a Flat Amount and Not Reconciling with Actual Expenses | Upside Potential to a New Owner
  • Buildings have Metal Roofs | Attractive Façade and Landscaping

Exclusively Listed By

Shopping Strip

Silver Star Village

Listing Price: $2,450,000

Cap Rate
7.86%
Gross SF
16,000
Rentable SF
16,000
Price/Gross SF
$153.12
Lot Size
6.00 acres
Year Built
2008

Investment Highlights

  • 16,000-Square-Foot, Multi-Tenant Retail Center | Offering is Comprised of Four Multi-Tenant Buildings
  • Center is 100 Percent Occupied
  • All Leases are Triple-Net | Landlord has Been Collecting a Flat Amount and Not Reconciling with Actual Expenses | Upside Potential to a New Owner
  • Buildings have Metal Roofs | Attractive Façade and Landscaping

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 16,000-square-foot, multi-tenant retail center in Millsap, Texas. The offering consists of four multi-tenant buildings situated on approximately six acres; Landlord is currently in the process of re-parceling the land, so exact acreage is to be determined. The center is currently 100 percent occupied, and all leases are triple-net. The tenant base is a complementary mix of internet-resistant tenants including Clearfork Pharmacy, Mr. Jim's Pizza, Gregory Bratton MD, State Farm Insurance, Universal Dental Group, Cates Realty Group, Comfort Kitchens Restaurant, Hoofstock Genetics, Pronto Solutions, In-Hair-Itance Salon & Barber, Texas Title, and others. Silver Star Village was constructed in 2008 and features an attractive façade and landscaping, and all buildings have a metal roof. First Financial Bank is situated on a separate parcel in the middle of the center; the bank is not a part of the offering but does contribute towards the common area expenses. Silver Star Village is located on FM 1189 approximately one mile south of Interstate 20. Traffic counts in front of the property are approximately 1,300 vehicles per day. The center is in close proximity to many schools providing additional traffic to the area. The surrounding area has an affluent population; the average household income within a five-mile radius exceeds $108,150.

Exclusively Listed By

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