Skip to main content

Shopping Strip

Northwend Shopping Center

9515 N Lamar Blvd, Austin, TX 78753

Listing Price: $13,990,000

Cap Rate
4.95%
Gross SF
64,099
Rentable SF
64,099
Price/Gross SF
$218.26
Lot Size
8.80 acres
Year Built
1984

Investment Overview

Northwend Shopping Center is a 64,099-square-foot, multi-tenant retail center strategically located in a dense residential area in Austin, Texas. The center is 77 percent occupied, allowing significant upside potential in leasing the vacant suites. Anchored by Rodeo Night Club and Dollar Tree, other tenants include Marisco Grill, Star Bright Cleaners, Resistant Fit Herbalife, La Herencia Western Wear, Stephanie’s Boutique, Benito Wireless, Staff Zone, Kathin Beauty Salon & Spa, Royal Vision, Austin Mutual Agency, Dinh Noodle House, Arbor Dental, Chicoine Chiropractic, Metro PCS, Jackson Hewitt, Soap Bubbles Washateria, and Seoulju Korean Kitchen. Constructed in 1984, the building is situated on a large 8.8-acre parcel and features a prominent multi-tenant pylon sign for added visibility. The subject property is positioned on the east side of North Lamar Boulevard with a signalized entry point at the intersection with Rutland Drive. North Lamar Boulevard is one of the major north/south thoroughfares in the area and benefits from high traffic counts of 43,000 vehicles per day in front of Northwend Shopping Center. Numerous national and regional retailers neighbor the property, including H-E-B Grocery Store, Jefferson Dental, Burger King, Walgreens, Taco Bell, McDonald’s, Whataburger, Golden Chick, Cici’s Pizza, AutoZone, O’Reilly Auto Parts, NAPA Auto Parts, 7-Eleven, and others. Several school campuses are in close proximity to Northwend Shopping Center, providing additional traffic to the area. Surrounding demographics are strong, featuring a five-mile population of more than 346,280 residents and an average household income exceeding $96,000.

Investment Highlights

  • 64,099-Square-Foot, Multi-Tenant Retail Center
  • Value Add Opportunity | 77% Occupied with Staggered Lease Expiration Dates | Current Average Rents are Well Below Market | Pro Forma Cap Rate is 8.00%
  • All Current Leases are Triple-Net
  • Anchored by Rodeo Night Club and Dollar Tree | Tenants are a Complementary Mix of Mostly Local, Service-Oriented and Internet-Resistant Businesses
  • Well Positioned Along North Lamar Boulevard | High Traffic Counts Exceeding 43,000 Vehicles per Day

Exclusively Listed By

Financing By

Shopping Strip

Northwend Shopping Center

Listing Price: $13,990,000

Cap Rate
4.95%
Gross SF
64,099
Rentable SF
64,099
Price/Gross SF
$218.26
Lot Size
8.80 acres
Year Built
1984

Investment Highlights

  • 64,099-Square-Foot, Multi-Tenant Retail Center
  • Value Add Opportunity | 77% Occupied with Staggered Lease Expiration Dates | Current Average Rents are Well Below Market | Pro Forma Cap Rate is 8.00%
  • All Current Leases are Triple-Net
  • Anchored by Rodeo Night Club and Dollar Tree | Tenants are a Complementary Mix of Mostly Local, Service-Oriented and Internet-Resistant Businesses
  • Well Positioned Along North Lamar Boulevard | High Traffic Counts Exceeding 43,000 Vehicles per Day

Investment Overview

Northwend Shopping Center is a 64,099-square-foot, multi-tenant retail center strategically located in a dense residential area in Austin, Texas. The center is 77 percent occupied, allowing significant upside potential in leasing the vacant suites. Anchored by Rodeo Night Club and Dollar Tree, other tenants include Marisco Grill, Star Bright Cleaners, Resistant Fit Herbalife, La Herencia Western Wear, Stephanie’s Boutique, Benito Wireless, Staff Zone, Kathin Beauty Salon & Spa, Royal Vision, Austin Mutual Agency, Dinh Noodle House, Arbor Dental, Chicoine Chiropractic, Metro PCS, Jackson Hewitt, Soap Bubbles Washateria, and Seoulju Korean Kitchen. Constructed in 1984, the building is situated on a large 8.8-acre parcel and features a prominent multi-tenant pylon sign for added visibility. The subject property is positioned on the east side of North Lamar Boulevard with a signalized entry point at the intersection with Rutland Drive. North Lamar Boulevard is one of the major north/south thoroughfares in the area and benefits from high traffic counts of 43,000 vehicles per day in front of Northwend Shopping Center. Numerous national and regional retailers neighbor the property, including H-E-B Grocery Store, Jefferson Dental, Burger King, Walgreens, Taco Bell, McDonald’s, Whataburger, Golden Chick, Cici’s Pizza, AutoZone, O’Reilly Auto Parts, NAPA Auto Parts, 7-Eleven, and others. Several school campuses are in close proximity to Northwend Shopping Center, providing additional traffic to the area. Surrounding demographics are strong, featuring a five-mile population of more than 346,280 residents and an average household income exceeding $96,000.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower