Marcus & Millichap is pleased to present the opportunity to acquire a 32,810-square-foot, value-add, multi-tenant retail center located in the Dallas suburb of Garland, Texas. The offering is comprised of one multi-tenant building and one single-tenant restaurant. Belt Line-Brand Shopping Center is currently 83 percent occupied providing upside potential in leasing the vacant space; 81 percent of the gross leasable area has triple-net leases. The tenant base is a complementary mix of service-oriented businesses including Hana Hibachi & Sushi, Yen’s China Cafe, Dallas Furniture, Bonton Donuts, Iglesia Church, Mu Do Martial Arts, International Barber College, International Beauty College, Hiep Tran Tax Services, Vape Smoker Square, and Xpress Food Mart. The single-tenant building, currently leased to Hana Hibachi & Sushi, was constructed in 1980 and sits on a 0.89-ace parcel. The multi-tenant building was constructed in 1985 and is situated on a 2.34-acre parcel.
Belt Line-Brand Shopping Center is located at the signalized, hard corner intersection of Belt Line Road and Brand Road. Cumulative traffic counts in front of the property exceed 37,700 vehicles per day. The subject property is located near many national and regional retailers including CVS Pharmacy, NickelRama Arcade, Jack in the Box, Babe’s Chicken Dinner House, 7-Eleven, Popeyes Chicken & Biscuits, Dollar Tree, Burger Street, Chevron, Walmart, Wells Fargo, Target, Lifetime Fitness, Academy Sports & Outdoors, Michael’s, Sam’s Club, and many more. The property is in close proximity to many schools providing additional traffic to the area. The surrounding area is densely populated with 16,606 residents within one-mile of the property, 129,242 residents within three-miles, and 323,825 residents within five miles.
- 32,810-Square-Foot, Multi-Tenant Retail Center | Comprised of One Multi-Tenant Building and One Single-Tenant Building
- 83% Occupied | 81% of the Gross Leasable Area has Triple-Net Leases | Upside Potential in Leasing the Vacant Space | Pro Forma Cap Rate is 9.2%
- Tenant Base is a Complementary Mix of Internet-Resistant, Service-Oriented Businesses
- Priced at $119 per Square Foot | Below Replacement Cost
- Situated on Two Parcels Totaling 3.23-Acres with Ample Concrete Parking
- Located at the Signalized, Hard Corner of Belt Line Road and Brand Road | Cumulative Traffic Counts Exceed 37,700 Vehicles per Day
- Property is Easily Accessible from Multiple Ingress and Egress Points and Features Two Pylon Signs for Added Visibility
- Approximately 1.5 Miles South of President George Bush Turnpike and a Major Retail Trade Area Along the Turnpike Including Walmart, Target, Sam’s Club, Kohl’s, The Home Depot, and Lowe’s | Near Firewheel Town Center
- Close Proximity to Many Schools Providing Additional Traffic to the Area
- Well Positioned to Serve an Extremely Dense Residential Population of More Than 323,825 Residents Within a Five-Mile Radius | Average Household Income is $90,188
- Garland is Located 20 Miles Northeast of Downtown Dallas
