Marcus & Millichap is pleased to present the opportunity to acquire a 5,538-square-foot, multi-tenant retail center in a dense retail corridor of Austin, TX. The center is 59% occupied with one vacancy providing a unique value-add opportunity. The tenant base is a complementary mix of internet-resistant, service-oriented businesses, including Fred Loya Insurance, Cricket Wireless, and Discoteca, which include triple-net and gross leases. Constructed in 2005, the building is situated on a 0.46-acre lot with paved parking. Cameron Station Retail Center has a double-sided monument sign positioned at the frontage road entrance providing great visibility to the center.
The subject property is located on Cameron Road with excellent visibility and benefits from high freeway traffic counts off Interstate 35 of approximately 191,475 vehicles per day. Cameron Station Retail Center is within close proximity to Mueller, a growing and vibrant neighborhood in Austin, with over 8,000 residents, as well as shopping and dining. The proximity to Mueller ensures easy access for residents and visitors, driving more traffic to the center. It is also across the street from Capital Plaza Shopping Mall and surrounded by numerous national and regional retailers including Target, Home Depot, H-E-B, Dollar Tree, Party City, Five Below, Best Buy, Marshall’s, Walgreens, Total Wine, Starbucks, Taco Bell, McDonald’s, and many more. Surrounding demographics are strong with a population exceeding 349,584 residents within a five-mile radius, and an average household income of $91,749 within a five-mile radius.
- 5,538-Square-Foot, Multi-Tenant Retail Center
- 59% Occupied | 50% Triple-Net Leases | 50% Gross Leases
- Significant Upside Potential | Pro Forma CAP Rate is 10.00%
- Current Average Rents are Below Market
- Tenant Base is a Complementary Mix of Internet Resistant, Service-Oriented Businesses Including Fred Loya Insurance, Cricket Wireless, and Discoteca
- Close Proximity to Mueller, a Growing and Vibrant Neighborhood in Austin, with over 8,000 Residents, as well as Shopping, and Dining. The Proximity to Mueller Ensures Easy Access for Residents and Visitors, Driving More Traffic to the Center
- Across the Street from Capital Plaza Shopping Mall and Surrounded by many National and Regional Retailers including Target, Home Depot, H-E-B, Dollar Tree, Party City, Five Below, Best Buy, Marshall’s, Walgreens, Starbucks, Taco Bell, McDonald’s and Many More
- Desirable Freeway Location off Interstate 35 with Excellent Visibility | Extremely High Traffic Counts of Approximately 191,475 Vehicles per Day
- Highly Visible, Double-Sided Monument Sign Positioned at Frontage Road Entrance on Cameron Road with 16,779 Vehicles per Day
- Desirable Demographics | Densely Populated with Approximately 349,584 Residents Within a Five-Mile Radius | The Average Household Income is Approximately $80,547 within One Mile; $79,129 within Three Miles; $91,749 within Five Miles
- The City of Austin is the State Capital of Texas and the Fourth-Most-Populous City in Texas | Also Home to The University of Texas at Austin, Serving a Population of More Than 50,000 Students
