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Shopping Strip

Lumberton Center

801 N Main St, Lumberton, TX 77657

Listing Price: $1,900,000

Cap Rate
7.50%
Gross SF
16,573
Rentable SF
16,573
Price/Gross SF
$114.64
Lot Size
3.15 acres
Year Built
2003

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale the Lumberton Center, located at 801 North Main Street, Lumberton, Texas 77657. Built in 2003, this 16,573 square foot shopping center features a healthy mix of office and retail tenants paying affordable, below-market rents. Lumberton Center is positioned directly adjacent to an H.E.B. grocery store, benefiting from the grocer’s prominence and foot traffic. Lumberton Center fronts on Main Street, Lumberton’s primary retail thoroughfare, with a daily vehicle count of 27,405 vehicles. The property is a neighborhood center, about half a mile north of one of the more densely populated neighborhoods in Lumberton, with an average household income of $97,000 per year. Lumberton Center offers an investor a value-add opportunity, where a buyer may improve the return by increasing below-market rental rates, currently averaging $12.53 per square foot on gross leases. Market rental rates of comparable properties are currently leasing for approximately $14 per square foot. The center is 91 percent leased with a current CAP rate of 7.50 percent. An investor may lease the 1,500 square foot vacancy to achieve a pro-forma CAP rate of 8.61 percent.

Investment Highlights

  • Adjacent to H-E-B Grocery Store
  • Frontage on Main Street (27,405 Vehicles Per Day)
  • Current CAP Rate of 7.50% | Pro Forma CAP Rate of 8.61%
  • Cash-on-Cash Return of 10.22% | Pro Forma Cash-on-Cash Return of 13.61%
  • $115 Per Square Foot to the Building (Below Replacement Cost)

Exclusively Listed By

Financing By

Shopping Strip

Lumberton Center

Listing Price: $1,900,000

Cap Rate
7.50%
Gross SF
16,573
Rentable SF
16,573
Price/Gross SF
$114.64
Lot Size
3.15 acres
Year Built
2003

Investment Highlights

  • Adjacent to H-E-B Grocery Store
  • Frontage on Main Street (27,405 Vehicles Per Day)
  • Current CAP Rate of 7.50% | Pro Forma CAP Rate of 8.61%
  • Cash-on-Cash Return of 10.22% | Pro Forma Cash-on-Cash Return of 13.61%
  • $115 Per Square Foot to the Building (Below Replacement Cost)

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale the Lumberton Center, located at 801 North Main Street, Lumberton, Texas 77657. Built in 2003, this 16,573 square foot shopping center features a healthy mix of office and retail tenants paying affordable, below-market rents. Lumberton Center is positioned directly adjacent to an H.E.B. grocery store, benefiting from the grocer’s prominence and foot traffic. Lumberton Center fronts on Main Street, Lumberton’s primary retail thoroughfare, with a daily vehicle count of 27,405 vehicles. The property is a neighborhood center, about half a mile north of one of the more densely populated neighborhoods in Lumberton, with an average household income of $97,000 per year. Lumberton Center offers an investor a value-add opportunity, where a buyer may improve the return by increasing below-market rental rates, currently averaging $12.53 per square foot on gross leases. Market rental rates of comparable properties are currently leasing for approximately $14 per square foot. The center is 91 percent leased with a current CAP rate of 7.50 percent. An investor may lease the 1,500 square foot vacancy to achieve a pro-forma CAP rate of 8.61 percent.

Exclusively Listed By

Financing By

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