Copperas Cove Retail

Price: $2,875,000
Sq. Ft.: 16,400
Cap Rate: 7.47%
Built: 2005

The subject property is a 16,400-square foot multi-tenant retail center in Copperas Cove, Texas. The center is currently 100 percent occupied, and all leases are triple-net.  National credit tenants comprise   83 percent of the gross leasable area, including CATO, Payless Shoe Source, Sally Beauty Company, Bank of America, GameStop, and Jackson Hewitt Tax Service. The building was constructed in 2005 and sits on 1.098 acres.

Copperas Cove Retail is located on Constitution Drive just south of Business Highway 190, the major thoroughfare between the city and Killeen with traffic counts of approximately 50,000 vehicles per day. Shadowed by Walmart Supercenter, numerous other national and regional retailers are in the area including H-E-B Plus!, Wendy’s, Panda Express, Chick-fil-A, Arby’s, Sprint, Papa John’s  Pizza,  Supercuts, Starbucks, Applebee’s, WingStop, Whataburger, and others. Best Western Inn & Suites, Days Inn, and Comfort Suites are also in the surrounding area. Over 66,000 residents are within five miles of  the property, and the average household income is $58,580.

Centrally located in the heart of Texas on Highway 190 between IH-35 and scenic US-281, Copperas Cove is the largest city in Coryell County. The city’s economy is closely linked to nearby Fort Hood, making it part of the Killeen-Temple-Fort Hood Metropolitan Statistical Area. Copperas Cove is the ideal Central Texas business location, drawing skilled and high-tech labor from the 800 Fort Hood soldiers exiting the military per month, as well as Central Texas College and Texas A&M University – Central Texas graduates. Major employers in the area include Metroplex Hospital, Walmart, Scott & White Hospital and Clinics, Central Texas College, and GC Services.