Sweetwater Shopping Center is a 29,247-square-foot, multi-tenant retail center located in Sweetwater, Texas. The center is currently 70 percent occupied with a mix of gross and base year leases, providing significant upside potential in leasing the remaining vacancy and converting all leases to triple-net. Anchored by a new 10-year lease with Harbor Freight, the tenant base is a complementary mix of national and regional businesses including Subway and Texas Finance. The remaining 8,793-square-foot vacant suite is located at the back of the building and has a store front and a parking lot facing Crane Street. Originally constructed in 1955, the subject property is situated on approximately 2.07 acres with ample paved parking. Landlord reports a new roof was installed in 2012 with a 15-year warranty.
Sweetwater Shopping Center is located on East Broadway Avenue and benefits from double hard corners with Ragland Street and Crane Street. Broadway Avenue is one of the main east/west thoroughfares in the city; traffic counts exceed 10,800 vehicles per day. Nearby national and regional retailers include Brookshire’s, Family Dollar, O’Reilly Auto Parts, Sonic Drive-In, Bealls, Shoe Sensation, Anytime Fitness, Dollar General, Dollar Tree, H&R Block, Factory Connection, and many others. Sweetwater High School, Sweetwater Intermediate School, and Sweetwater Middle School are all in close proximity to the subject property, providing additional traffic to the area. The five-mile population is approximately 12,084 residents, having an average household income of $57,575.
- Value-Add, 29,247-Square-Foot, Multi-Tenant Retail Center
- Shadow-Anchored by Brookshire’s Grocery | Strong Traffic Driver with 469K Visits Annually (Source: Placer.ai)
- 70% Occupied | Mix of Gross and Base Year Leases | Significant Future Upside Potential in Leasing Vacancy and Converting Leases to Triple-Net | Pro Forma Cap Rate is 11.00%
- Anchored by New 10-Year Lease with Harbor Freight Tools | Current Tenant Base is 100% National and Regional Businesses
- Versatile Remaining Vacancy (8,793 SF) Located at the Back of the Building, Facing Crane Street | Has Dedicated Store Front and Parking Lot
- Landlord Reports New Roof was Installed in 2012 with a 15-Year Warranty
- Priced at $54 Per Square Foot | Well Below Replacement Cost
- Double Hard Corner Location on East Broadway Avenue (Business 20) at the Intersections with Ragland Street and Crane Street | Easily Accessible from Multiple Ingress and Egress Points | Traffic Counts Exceed 10,800 Vehicles per Day
- Sweetwater is Located 40 Miles West of Abilene and 123 Miles Southeast of Lubbock
- Sweetwater and Nolan County are One of the Leaders in Wind Power Generation in the Western Hemisphere, Housing 1,400+ Turbines | Also Located on the Edge of the Permian Basin, the Largest Oil-Producing Shale Play in the Nation | 575 Active Wells in Nolan County
