Shopping Strip

Tate Plaza

1231 William D Tate Ave, Grapevine, TX 76051

Listing Price: $3,495,000

Cap Rate
6.50%
Gross SF
8,675
Rentable SF
8,675
Price/Gross SF
$402.88
Lot Size
1.10 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire an 8,675-square foot, multi-tenant retail center located a densely populated area of Grapevine, Texas. Tate Plaza is currently 100 percent occupied, and all leases are triple-net leases. The center has a complementary mix of internet resistant tenants including Smoothie King, Tint World, Lenny's Subs, and True Dental. Additional income is derived from a cell tower lease with T-Mobile. Recent property improvements include the installation of a new roof in 2019. Constructed in 2006, the center is situated on a 1.1-acre parcel. Tate Plaza is located on William D. Tate Avenue, near the intersection of William D. Tate Avenue and State Highway 114. Traffic counts in front of the property exceed 17,500 vehicles per day. The center is strategically located a dense retail trade area near many national retailers including Target, Big Lots!, Bealls, Ross Dress for Less, Petco, Joann Fabrics & Crafts, Eatzi's Bakery & Market, Academy Sports & Outdoors, Best Buy, Sam's Club, Chick-fil-A, In-In-Out Burger, Starbucks Coffee, P.F. Chang's, and more. Tate Plaza is located one mile from Baylor Scott & White - Grapevine, a full-service teaching hospital serving more than 250 beds. The property is less than four miles from Dallas-Fort Worth International Airport and Southlake Town Square. Dallas-Fort Worth International Airport is the third busiest airport in the world and two-thirds of the airport, including all terminal buildings, are located within Grapevine city limits. Southlake Town Square a unique, open-air lifestyle shopping district with more than 120 shops and fine restaurants whose reputation has been recognized throughout the country. The surrounding area has desirable demographics, with a five-mile average household income of approximately $139,767 and the five-mile population exceeding 122,673 residents.

Investment Highlights

  • 8,675-Square Foot Multi-Tenant Shopping Center in a Dense Retail Trade Area
  • 100% Occupied with Internet Resistant Tenants | All Current Leases are Triple-Net
  • Property Improvements Include a New Roof Installed in Late 2019
  • Chick-fil-A is Building a New Store Adjacent to the Property, Providing Additional Traffic
  • Located on Willam D. Tate Avenue Just North of State Highway 114 | Traffic Counts in Front of the Property Exceed 17,500 Vehicles per Day

Exclusively Listed By

Listing Price: $3,495,000

Cap Rate
6.50%
Gross SF
8,675
Rentable SF
8,675
Price/Gross SF
$402.88
Lot Size
1.10 acres
Year Built
2006

Investment Highlights

  • 8,675-Square Foot Multi-Tenant Shopping Center in a Dense Retail Trade Area
  • 100% Occupied with Internet Resistant Tenants | All Current Leases are Triple-Net
  • Property Improvements Include a New Roof Installed in Late 2019
  • Chick-fil-A is Building a New Store Adjacent to the Property, Providing Additional Traffic
  • Located on Willam D. Tate Avenue Just North of State Highway 114 | Traffic Counts in Front of the Property Exceed 17,500 Vehicles per Day

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire an 8,675-square foot, multi-tenant retail center located a densely populated area of Grapevine, Texas. Tate Plaza is currently 100 percent occupied, and all leases are triple-net leases. The center has a complementary mix of internet resistant tenants including Smoothie King, Tint World, Lenny's Subs, and True Dental. Additional income is derived from a cell tower lease with T-Mobile. Recent property improvements include the installation of a new roof in 2019. Constructed in 2006, the center is situated on a 1.1-acre parcel. Tate Plaza is located on William D. Tate Avenue, near the intersection of William D. Tate Avenue and State Highway 114. Traffic counts in front of the property exceed 17,500 vehicles per day. The center is strategically located a dense retail trade area near many national retailers including Target, Big Lots!, Bealls, Ross Dress for Less, Petco, Joann Fabrics & Crafts, Eatzi's Bakery & Market, Academy Sports & Outdoors, Best Buy, Sam's Club, Chick-fil-A, In-In-Out Burger, Starbucks Coffee, P.F. Chang's, and more. Tate Plaza is located one mile from Baylor Scott & White - Grapevine, a full-service teaching hospital serving more than 250 beds. The property is less than four miles from Dallas-Fort Worth International Airport and Southlake Town Square. Dallas-Fort Worth International Airport is the third busiest airport in the world and two-thirds of the airport, including all terminal buildings, are located within Grapevine city limits. Southlake Town Square a unique, open-air lifestyle shopping district with more than 120 shops and fine restaurants whose reputation has been recognized throughout the country. The surrounding area has desirable demographics, with a five-mile average household income of approximately $139,767 and the five-mile population exceeding 122,673 residents.

Exclusively Listed By

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