Watauga Retail Center

Price: $2,782,000
Sq. Ft.: 6,000
Cap Rate: 7.25%
Built: 2004
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Marcus & Millichap is pleased to offer the opportunity to acquire a 6,000-square foot, two-tenant retail center located in a dense retail trade area of Watauga, Texas. The center is currently 100 percent occupied, and both leases are triple-net leases.  Watauga Retail Center is occupied by two national credit tenants, Verizon and Smoothie King. Verizon is a publicly traded company traded on the  New York Stock Exchange under the symbol VZ.  Both leases have options for renewal remaining.  The building is 2004 construction and situated on a 0.7-acre parcel.

Watauga Retail Center is located at the signalized, hard corner of Denton Highway and North Tarrant Parkway. Cumulative traffic counts in front of the property exceed 69,144 vehicles per day with excellent visibility and multiple ingress and egress points. The center is located in an extremely dense retail trade area and shadow-anchored by Fitness Connection.  Other national and regional retailers in the immediate area include The Home Depot, Target, Dollar Tree, Walgreens, Marshalls, Academy Sports & Outdoors, GNC, Office Depot, Ross Dress for Less, Staples, Kohl’s, Sprouts Farmers Market, Michael’s, and others. The center is also in close proximity to many schools providing additional traffic to the area. The property is well-situated in a dense residential area, with a population exceeding 310,000 residents within a five-mile radius.

  • 100% Occupied, Two-Tenant Retail Center
  • 100% National Credit Tenants with Triple-Net Leases
  • Verizon is a Publicly Traded Company | New York Stock Exchange – VZ
  • Both Leases have Options for Renewal Remaining
  • Signalized, Hard Corner Location in a Prime Retail Trade Area at the Intersection of Denton Highway and North Tarrant Parkway
  • Cumulative Traffic Counts in Front of the Property Exceed 69,144 Vehicles per Day | Excellent Visibility | Multiple Ingress and Egress Points
  • Close Proximity to Numerous National Retailers including  The Home Depot, Target, Dollar Tree, Walgreens, Marshalls, Academy Sports & Outdoors, Office Depot, Ross Dress for Less, Staples, Kohl’s,  Sprouts Farmers Market, Michael’s, and Others
  • Close Proximity to Many Schools | Additional Traffic Driver to the Area
  • Watauga is Located in Northern Tarrant County in the Dallas-Fort Worth Metroplex
  • 15 Miles Northeast of Downtown Fort Worth | 25 Miles Northwest of Downtown Dallas
  • Excellent Demographics | Highly Affluent Area with an Average Household Income Exceeding $109,100 and Serving a Population of More than 310,000 Residents within Five Miles