The Shops at Ridgmar

Price: $8,249,000
Sq. Ft.: 40,627
Cap Rate: 6.53/8.11%
Built: 1983

The Shops at Ridgmar is a 40,627-square foot, value-add, multi-tenant retail center in Fort Worth, Texas. The center is currently 85 percent occupied, and all current leases are triple-net. The tenant base is a complementary mix of restaurants, retail, and service-oriented businesses. Tenants include Elegant Image, Pho’s Little Saigon, Merle Norman, Sewing World, The Fish Place, Just 4 U Watch & Jewelry Repair, Tommy’s Burgers & Brews, Armstrong McCall, Mom’s Mums and More, Weight Watchers, Savage Health & Wellness, Flawless Fitness, and Woody’s.  Constructed in 1983, the building is situated on a 3.3-acre lot.

The Shops at Ridgmar is located at the intersection of Alta Mere and Green Oaks Road. Traffic counts in front of the property are approximately 16,500 vehicles per day. The property is shadow-anchored by Ridgmar Mall. Ridgmar Mall is experiencing a surge of redevelopment with the opening of SeaQuest Interactive Aquarium, the renovation of Rave Cinemas, and Athletic Apex opening in 2020. Other national retailers in the area include Dollar Tree, Ross Dress For Less, Lowe’s, Big Lots!, PetSmart, Target, Walmart, Sam’s Club, and many more. The property is located less than one mile from Lockheed Martin corporate office and the  Naval Air Station Fort Worth Joint Reserve Base (NAS JRB), home to a variety of Navy, Marine Corps, Air Force, Army and Texas National Guard units with more than 10,000 active duty military, Guardsmen, Reservists, and civilian employees.

  • 40,627-Square Foot, Multi-Tenant Retail Center Shadow Anchored by Ridgmar Mall
  • Value-Add Opportunity | Currently 85% Occupied | Pro Forma Cap Rate is 8.11%
  • Recent Improvements to the Property Include New Roof, New Concrete Parking Lot, Building Repainted, and New AC Units
  • All Current Leases are Triple-Net
  • Tenant Base is a Complementary Mix of Restaurants, Retail, and Service-Oriented Businesses
  • Situated at the Entrance of Ridgmar Mall at the Intersection of Alta Mere and Green Oaks Road | 55+ Retailers Including JCPenney, Dillard’s Outlet, Rave Cinemas, and SeaQuest Interactive Aquarium
  • Athletic Apex Health Club is Slated to Open in Ridgmar Mall in 2020 and will Occupy 60,000 Square Feet | Recognized as One of the Best New Brands in the Industry by IHRSA, the Largest Health Club Organization in the World | Traffic-Driver to the Area
  • Numerous National and Regional Tenants in the Surrounding Area
  • Eight Miles West of Downtown Fort Worth
  • Close Proximity to Lockheed Martin and the Naval Air Station Fort Worth Joint Reserve Base (NAS JRB), Two of Fort Worth’s Major Employers
  • NAS JRB is Home to 10,000 Active Duty Military, Guardsmen, Reservists, and Civilian Employees