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Shopping Strip

Garden Park

1565 W Main St, Lewisville, TX 75067

Listing Price: $17,252,000

Cap Rate
6.56%
Gross SF
115,155
Rentable SF
115,155
Price/Gross SF
$149.82
Lot Size
12.15 acres
Year Built
1985

Investment Overview

Garden Park is a 92 percent occupied, 115,155-square-foot, multi-tenant retail center located in a densely populated area of Lewisville, Texas. Fitness Connection anchors the center, occupying 36 percent of the gross leasable area. Other tenants include internet-resistant businesses and retailers including Jamba Juice, Dr. Ira Mims Dentistry, Send All My Parcels, Burgerlicious, Ray’s Barber Shop, Lewisville Boot Repair, Nori Sushi, Hookah Lounge, U.S. Armed Forces, RDA Pro-Mart, Village E Cig’s, Rebel Muse Tattoo, Locker Room Sportswear, Minuteman Press, Saffron Girl Kitchen, Pretty Boutiques, Furniture Bay Consignment, Precision Sports Nutrition, and Greater Lewisville Soccer Association. Approximately 86 percent of the gross leasable area has triple-net leases, and all current leases include options for renewal. Garden Park is comprised of two multi-tenant buildings constructed in 1985 and 1987, situated on a large 12.15-acre parcel. Recent improvements include a new roof layer installed in 2020. The subject property is located on West Main Street near the signalized intersection with North Garden Ridge Boulevard and has multiple ingress and egress points from both roads. Cumulative traffic counts are approximately 56,100 vehicles per day. Adjacent pad sites include ALDI, O’Reilly Auto Parts, Jack in the Box, Lewisville BBQ, and CareNow. The Lewisville ISD Administration Building sits directly west of the subject property. Other national and regional retailers in the neighboring area include Walmart, Sam’s Club, Dollar General, Tom Thumb, Braum’s, Starbucks, Walgreens, 7-Eleven, Dunkin’, AutoZone, CVS, Sonic, Petco, McDonald’s, and many others. Close proximity to the campuses of Lewisville High School and Degan Elementary School provide additional traffic to the area.

Investment Highlights

  • 115,155-Square Foot, Multi-Tenant Retail Center | Anchored by Fitness Connection
  • 92% Occupied | 86% of the Gross Leasable Area has Triple-Net Leases
  • Priced at $150 per Square Foot
  • Located on West Main Street Near the Signalized Hard Corner of North Garden Ridge Boulevard with Multiple Ingress and Egress Locations | Cumulative Traffic Counts in Front of the Property are Approximately 56,100 Vehicles per Day
  • Strong Demographics | Extremely Affluent Area with an Average Household Income of $125,512 within Five Miles | The Population is Approximately 210,220 Residents

Exclusively Listed By

Shopping Strip

Garden Park

Listing Price: $17,252,000

Cap Rate
6.56%
Gross SF
115,155
Rentable SF
115,155
Price/Gross SF
$149.82
Lot Size
12.15 acres
Year Built
1985

Investment Highlights

  • 115,155-Square Foot, Multi-Tenant Retail Center | Anchored by Fitness Connection
  • 92% Occupied | 86% of the Gross Leasable Area has Triple-Net Leases
  • Priced at $150 per Square Foot
  • Located on West Main Street Near the Signalized Hard Corner of North Garden Ridge Boulevard with Multiple Ingress and Egress Locations | Cumulative Traffic Counts in Front of the Property are Approximately 56,100 Vehicles per Day
  • Strong Demographics | Extremely Affluent Area with an Average Household Income of $125,512 within Five Miles | The Population is Approximately 210,220 Residents

Investment Overview

Garden Park is a 92 percent occupied, 115,155-square-foot, multi-tenant retail center located in a densely populated area of Lewisville, Texas. Fitness Connection anchors the center, occupying 36 percent of the gross leasable area. Other tenants include internet-resistant businesses and retailers including Jamba Juice, Dr. Ira Mims Dentistry, Send All My Parcels, Burgerlicious, Ray’s Barber Shop, Lewisville Boot Repair, Nori Sushi, Hookah Lounge, U.S. Armed Forces, RDA Pro-Mart, Village E Cig’s, Rebel Muse Tattoo, Locker Room Sportswear, Minuteman Press, Saffron Girl Kitchen, Pretty Boutiques, Furniture Bay Consignment, Precision Sports Nutrition, and Greater Lewisville Soccer Association. Approximately 86 percent of the gross leasable area has triple-net leases, and all current leases include options for renewal. Garden Park is comprised of two multi-tenant buildings constructed in 1985 and 1987, situated on a large 12.15-acre parcel. Recent improvements include a new roof layer installed in 2020. The subject property is located on West Main Street near the signalized intersection with North Garden Ridge Boulevard and has multiple ingress and egress points from both roads. Cumulative traffic counts are approximately 56,100 vehicles per day. Adjacent pad sites include ALDI, O’Reilly Auto Parts, Jack in the Box, Lewisville BBQ, and CareNow. The Lewisville ISD Administration Building sits directly west of the subject property. Other national and regional retailers in the neighboring area include Walmart, Sam’s Club, Dollar General, Tom Thumb, Braum’s, Starbucks, Walgreens, 7-Eleven, Dunkin’, AutoZone, CVS, Sonic, Petco, McDonald’s, and many others. Close proximity to the campuses of Lewisville High School and Degan Elementary School provide additional traffic to the area.

Exclusively Listed By

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