Watauga Retail Center is a 6,000-square-foot, freestanding retail property situated on approximately 0.70 acres in Watauga, Texas. Built in 2004, the property is 100 percent occupied by Verizon Wireless and Smoothie King, two nationally recognized brands with established operating histories. Both tenants operate under NNN lease structures, providing ownership with stable in-place income and limited landlord responsibilities.
The property features an attractive, well-maintained design with prominent storefronts, expansive glass façades, stone accents and dedicated tenant signage. Verizon occupies 4,500 square feet, or 75 percent of the GLA, while Smoothie King occupies the remaining 1,500 square feet and features contractual rent growth through the balance of its primary lease term. The combination of established tenancy, functional design and a well-maintained physical profile creates an attractive, low-management retail investment.
Watauga Retail Center is strategically positioned at the signalized intersection of Denton Highway (Highway 377) and North Tarrant Parkway, two established North Tarrant County thoroughfares carrying approximately 61,000 combined vehicles per day. The property is surrounded by a dense concentration of national retailers and restaurants, including Target, The Home Depot, Sprouts Farmers Market, Kohl’s, Office Depot, Ross Dress for Less, PetSmart, Five Below, Chick-fil-A and Starbucks. Notably, the property sits catty-corner from a prominent H-E-B-owned land parcel at the intersection. Future development of this site has the potential to further strengthen the intersection as a retail destination, increase consumer traffic and enhance long-term commercial activity in the immediate trade area.
100% OCCUPIED TWO-TENANT RETAIL INVESTMENT WITH NATIONAL BRANDS
Watauga Retail Center is fully leased to Verizon Wireless and Smoothie King, two nationally recognized retailers. The property offers established tenancy, NNN lease structures and staggered lease expirations through 2028 and 2029
NNN LEASE STRUCTURE WITH EMBEDDED RENT GROWTH
Both tenants operate under NNN leases, providing limited landlord responsibilities. Smoothie King features scheduled rent increases, while Verizon maintains a five-year renewal option at a predetermined $39.80/SF rental rate.
SIGNALIZED HARD-CORNER LOCATION | ±61,000 COMBINED VPD
Strategically positioned at Denton Highway (Highway 377) and North Tarrant Parkway, the property benefits from prominent visibility and access at a signalized intersection carrying approximately 61,000 combined vehicles per day.
SURROUNDED BY HIGH-TRAFFIC NATIONAL RETAILERS
The property is surrounded by Target, The Home Depot, Sprouts, Kohl’s and numerous other national retailers. Nearby Target generated approximately 1.5 million visits and The Home Depot approximately 907,100 visits during the trailing 12 months.
PROXIMITY TO H-E-B-OWNED LAND | FUTURE DEVELOPMENT POTENTIAL
The property sits catty-corner from a prominent H-E-B-owned land parcel at Denton Highway and North Tarrant Parkway. Future development of the site could further enhance the intersection’s retail draw, consumer traffic and long-term commercial activity.
AFFLUENT & DENSE NORTH TARRANT COUNTY TRADE AREA
More than 323,000 residents with an average household income exceeding $130,000 are located within five miles. The five-mile population is projected to grow approximately 5.0 percent through 2030.
