Marcus & Millichap is pleased to offer the opportunity to acquire a 61,060-square-foot, multi-tenant retail center located in a densely populated area of Duncanville, Texas. Cedar Square Shopping Center is currently 93 percent occupied, providing upside potential to an investor. Tenants are a complementary mix of internet-resistant and service-oriented businesses, including O’Reilly Auto Parts, Black Friday Deals (Mega Furniture Outlet), Dollar General, Leslie’s Pool Supplies, State Farm, Nailizm, R & C Staffing, The Tamale Company, First Class Cuts, and Watermill Express. Constructed in 1978, the building is situated on 5.13 acres with ample paved parking and a highly visible pylon sign that provides additional exposure to the center.
- 61,060-Square-Foot, Multi-Tenant Neighborhood Retail Center
- 93% Occupied | 82% of the Gross Leasable Area has Triple-Net Leases | Value-Add Opportunity | Pro Forma Cap Rate is 7.77%
- Current Average Rents are Below Market
- Complementary Mix of National and Local Tenants | Dollar General (NYSE: DG), O’Reilly Auto Parts (NASDAQ: ORLY), and Leslie’s Pool Supply (NASDAQ: LESL) are Publicly Traded Companies
- Priced at $109 per Square Foot | Well Below Replacement Cost
- Situated on a 5.13-Acre Lot with Concrete Parking | Large Pylon Signage at the Entrance Enhances Visibility
- Signalized, Hard Corner Location at the Intersection of West Wheatland Road and South Cedar Ridge Drive | Easily Accessible from Multiple Ingress and Egress Points
- Cumulative Traffic Counts are Approximately 38,435 Vehicles per Day
- Adjacent to a Walgreens Pad Site | Located in a Dense Retail Trade Area Featuring Numerous National and Regional Tenants
- Highly Populated Surrounding Area | 175,581 Residents Within a Five-Mile Radius | Five-Mile Average Household Income Exceeds $73,413
- Duncanville is Conveniently Located 12 Miles Southwest of Downtown Dallas and 20 Miles Southeast of Fort Worth
