Shopping Strip

Shops on Cooper Street

Listing Price: $3,221,500

Cap Rate
6.50%
Gross SF
9,370
Rentable SF
9,370
Price/Gross SF
$343.81
Lot Size
0.51 acres
Year Built
2000

Investment Overview

Shops on Cooper Street is a 9,370-square foot, two-tenant retail center located in Arlington, Texas. The center has a strong tenant base with two national tenants, Mattress Firm and My Eyelab. Mattress Firm has been established in this center for 20 years, and My Eyelab has more than seven years remaining on the original ten-year lease. Both leases are triple net and have two renewal options with scheduled rent increases. The building was constructed in 2000 and is situated on a 0.51-acre lot. The subject property is located on South Cooper Street, less than one mile north of Interstate 20, in a dense retail trade area. The property benefits from high traffic counts of approximately 66,500 vehicles per day. The Parks at Arlington Mall is nearby, anchored by Dillard's, Macy's, JCPenney, Dick's Sporting Goods, AMC Theatre, Nordstrom Rack, and Barnes & Noble. Numerous national tenants are in the surrounding area, including Target, Burlington, Lowe's Home Improvement, Rooms to Go, Sam Moon, Academy Sports and Outdoors, Michaels, Harbor Freight Tools, 24 Hour Fitness, TJ Maxx, Best Buy, and many others. Arlington Highlands is also nearby to the east of the property, a popular destination for dining, shopping, and entertainment with more than 25 restaurants and 50 retail stores. The surrounding area has a dense population of more than 346,480 residents within a five-mile radius.

Investment Highlights

  • 9,370-Square Foot, Two-Tenant Retail Center
  • 100% Occupied with National Tenants | Both Leases are Triple-Net
  • Mattress Firm has a Corporate Guarantee from a Publicly Traded Company (NASDAQ: MFRM)
  • My Eyelab has More Than Seven Years Remaining on the 10-Year Primary Term with a 10% Rent Escalation Scheduled at the Beginning of Lease Year 6 | Lease has Dual Personal Guarantees
  • Situated on Cooper Street with High Traffic Counts Exceeding 66,500 Vehicles per Day
  • Located in a Major Retail Trade Area Near The Parks Mall

Exclusively Listed By

Listing Price: $3,221,500

Cap Rate
6.50%
Gross SF
9,370
Rentable SF
9,370
Price/Gross SF
$343.81
Lot Size
0.51 acres
Year Built
2000

Investment Highlights

  • 9,370-Square Foot, Two-Tenant Retail Center
  • 100% Occupied with National Tenants | Both Leases are Triple-Net
  • Mattress Firm has a Corporate Guarantee from a Publicly Traded Company (NASDAQ: MFRM)
  • My Eyelab has More Than Seven Years Remaining on the 10-Year Primary Term with a 10% Rent Escalation Scheduled at the Beginning of Lease Year 6 | Lease has Dual Personal Guarantees
  • Situated on Cooper Street with High Traffic Counts Exceeding 66,500 Vehicles per Day
  • Located in a Major Retail Trade Area Near The Parks Mall

Investment Overview

Shops on Cooper Street is a 9,370-square foot, two-tenant retail center located in Arlington, Texas. The center has a strong tenant base with two national tenants, Mattress Firm and My Eyelab. Mattress Firm has been established in this center for 20 years, and My Eyelab has more than seven years remaining on the original ten-year lease. Both leases are triple net and have two renewal options with scheduled rent increases. The building was constructed in 2000 and is situated on a 0.51-acre lot. The subject property is located on South Cooper Street, less than one mile north of Interstate 20, in a dense retail trade area. The property benefits from high traffic counts of approximately 66,500 vehicles per day. The Parks at Arlington Mall is nearby, anchored by Dillard's, Macy's, JCPenney, Dick's Sporting Goods, AMC Theatre, Nordstrom Rack, and Barnes & Noble. Numerous national tenants are in the surrounding area, including Target, Burlington, Lowe's Home Improvement, Rooms to Go, Sam Moon, Academy Sports and Outdoors, Michaels, Harbor Freight Tools, 24 Hour Fitness, TJ Maxx, Best Buy, and many others. Arlington Highlands is also nearby to the east of the property, a popular destination for dining, shopping, and entertainment with more than 25 restaurants and 50 retail stores. The surrounding area has a dense population of more than 346,480 residents within a five-mile radius.

Exclusively Listed By

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