Parkway Corners

Price: $19,150,000
Sq. Ft.: 67,466
Cap Rate: 7.28%
Built: 1995
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Marcus & Millichap is pleased to offer the opportunity to acquire a fully-stabilized, multi-tenant community retail center in a desirable high-growth area of North Dallas, Texas. Parkway Corners consists of four land parcels totaling 7.05 acres, consisting of two multi-tenant strip centers (totaling 38,912 square feet), Legacy Texas Bank (6,032 square feet), and YouFit Health Club (22,522 square feet). In addition to the bank and health club, other major tenants include Salon Boutique, Regeneration Arcade Bar, Norman’s Café, Sleep and Snoring Services, Highland Park Cleaners and several other service-oriented businesses. The center is 100 percent occupied, and all leases are triple-net. Thirty-nine percent of the gross leasable area has annual rent increases, providing consistent revenue growth through the primary terms. Parkway Corners may be purchased as a portfolio or separately. If the center is purchased separately, Legacy Bank of Texas must sell first, then after Legacy Bank of Texas is sold, YouFit Health Club and Shopping Center may be purchased together or separately.

  • 67,466-Square Foot, Multi-Tenant Community Retail Center Located in One of the Fastest-Growing Areas of the Country
  • Consists of Four Land Parcels | May be Purchased as a Portfolio or Separately |  If Purchased Separately, Legacy Bank of Texas Must Sell First | After Legacy Bank of Texas is Sold, YouFit Health Club and Shopping Center May be Purchased Together or Separately
  • 100% Occupied | All Leases are Triple-Net
  • 39% of the Gross Leasable Area has Annual Rent Bumps, Providing Consistent Revenue Growth
  • Tenant Base Consists of a Complementary Mix of Service-Oriented Businesses
  • Prime Freeway Location in the Northwest Corner of Dallas North Tollway and Trinity Mills Road | Excellent Visibility and Accessibility | Multiple Ingress and Egress Points Including Signalized Access Points
  • Extremely High Traffic Counts | 158,480 Vehicles per Day on Dallas North Tollway | 24,000 Vehicles per Day on Trinity Mills Road
  • Pylon Signage Facing Dallas North Tollway with High Visibility
  • Attractive Building Facade and Well-Maintained Landscaping
  • Surrounding Area has Excellent Demographics | Population Exceeds 450,680 Residents Within Five Miles | Average Household Income is $98,450
  • Dense Retail Trade Area Along Dallas North Tollway
  • Conveniently Located in the North Dallas Business District, Near Addison Airport, Downtown Dallas, Plano, Richardson and Frisco
  • Less than Seven Miles from Plano’s Prominent Legacy Business Park | Home to Numerous Corporate and Regional Headquarters Including J.C. Penney, Frito-Lay, JPMorgan Chase, Keurig Dr. Pepper, DXC, Ericsson, Toyota Motor North America, Liberty Mutual Insurance, USAA and Others