Cannon Crossing

Price: $5,806,000
Sq. Ft.: 19,037
Cap Rate: 7.00%
Built: 2016

Cannon Crossing is a newly constructed 19,044-square foot multi-tenant retail center in Roanoke, Texas (DFW). The center is currently 100 percent leased, and all leases are triple-net. Tenants consist of Joe’s Pizza, Yumilicious frozen yogurt, Veranda Salon, Blue Legacy Pools & Supply, Eye Level Learning, Dynamic Bike Fit, Roanoke ATA Martial Art, Jazzercise, West Dental Care, and Doyle Chiropractic. Constructed in 2016, the building sits on 2.31 acres.

The subject property is located on the signalized hard corner of Byron Nelson Boulevard (Texas 114 Business) and Cannon Parkway. The property is directly across from Hawaiian Falls Waterpark and Cannon Parkway Park to the east. Historic Downtown Roanoke is a short distance from the property, a popular destination for dining, boutique shopping, and entertainment over nine blocks of recently redeveloped Oak Street. National and regional retailers in the area include Kwik Kar Lube & Tune, Whataburger, US Post Office, Fuzzy’s Taco Shop, Taco Bell, and Church’s Chicken. The surrounding  area is highly affluent with a five mile average household income of $116,873 with a population of 68,650 residents.

Roanoke is two miles south of Grapevine Lake and seventeen miles southwest of Denton in south central Denton County. It is located in an exciting growth corridor of north Fort Worth that has experienced a surge in residential and commercial expansion over the last ten years. The main east-west road through town, State Highway 114 Business, is named “Byron Nelson Boulevard” in honor of the golfer who  resided in the community.