Tower Plaza

Price: $4,900,000
Sq. Ft.: 17,100
Cap Rate: 6.48%
Built: 2006

Tower Plaza is a 17,100-square foot, multi-tenant retail center located in a highly-affluent area of North Richland Hills, Texas.  The center is currently 93 percent occupied with triple-net leases, providing upside potential by leasing the vacant suite. Tenants consist of a complementary mix of internet-resistant retailers including  FedEx Office, Mink Lash & Salon, Vince Nail Spa, Leslie’s Pool Supplies, Jet Pizza, Kuhanas restaurant, and Verizon Wireless.  Constructed in 2006, the building is situated on a  2.488-acre lot.

Tower Plaza is located on Davis Boulevard just north of North Tarrant Parkway. Traffic counts on Davis Boulevard are approximately 28,900 vehicles per day.  The property is directly across from a Walmart.  Other national retailers in the neighboring area include Walgreens, Target, The UPS Store, AutoZone, Discount Tire, ALDI, Kroger, LA Fitness, CVS Pharmacy, Dollar Tree, Sonic, Chili’s Grill & Bar, Chase Bank, Alamo Draft House, Starbucks, Bank of America, National Tire & Battery, and more. The surrounding area has excellent demographics; the one-mile average household income is $192,459, and the population is more than 234,032 residents within five miles of the property.

  • 17,100-Square Foot, Multi-Tenant Retail Center Located in a Highly-Affluent Area
  • Directly Across from Walmart and Catty Corner from Target
  • Currently 93% Occupied | Upside Potential in Leasing Vacant Space
  • All Leases are Triple-Net
  • 41% of the Gross Leasable Area has National Credit Tenants
  • Complementary Mix of Internet-Resistant Tenants
  • Majority of Tenants have Rent Bumps Remaining During the Primary Terms
  • Situated on a 2.488-Acre Lot with Ample Parking
  • Surrounding Area has Excellent Demographics | Highly Affluent with a One-Mile Average Household Income of $192,459 | More than 234,030 Residents Within Five Miles of the Property
  • Located on Davis Boulevard Just North of North Tarrant Parkway | Traffic Counts are Approximately 28,900 Vehicles per Day in Front of the Property
  • North Richland Hills is the Third Largest City in Tarrant County
  • Located 15 Miles Northeast of Downtown Fort Worth and 29 Miles Northwest of Downtown Dallas