Marcus & Millichap is pleased to offer the opportunity to acquire a 16,857-square-foot, multi-tenant retail center with upside potential in Del Rio, Texas. Del Rio Plaza is currently 73 percent occupied, and 58 percent of the gross leasable area has triple-net leases. The center has a tenant base comprised largely of national retailers, including GameStop, Cato, CitiFinancial, Sally Beauty, and Cell Geeks. Constructed in 2004, the building is situated on a 1.32-acre parcel.
The subject property is located one lot east of the signalized intersection of Veterans Boulevard and the access road to Walmart Supercenter in a dense retail trade area of the city. Traffic counts are approximately 26,800 vehicles per day. Shadow-anchored by Walmart Supercenter and across the road from The Home Depot, numerous other neighboring retailers include Dollar Tree, Planet Fitness, Jack In the Box, Chili’s Grill and Bar, H&R Block, AutoZone, James Avery Artisan Jewelry, Dirt Cheap, Family Dollar, Rent-A-Center, Panda Express, Starbucks, Wendy’s, Chick-fil-A, IHOP, AT&T, Burger King, and others. Plaza Del Sol Mall is approximately one-half mile south of the property, anchored by JCPenney, Marshalls, Cinemark, and Ross Dress for Less. Several hotels, such as Holiday Inn Express and Suites, Hampton Inn and Suites, Motel 6, Ramada by Wyndham, and La Quinta Inn, are in close proximity and bring additional traffic to the area.
- 16,857-Square-Foot, Value-Add, Multi-Tenant Retail Center
- Shadow-Anchored by Walmart Supercenter | High-Traffic Walmart Store that Ranks in the 88th Percentile for Number of Visitors Annually to Walmart Locations Nationwide (per Placer.ai)
- 73% Occupied | 58% of the Gross Leasable Area has Triple-Net Terms | Upside Potential in Leasing the Vacancy and Converting All Leases to Triple-Net | Pro Forma Cap Rate is 9.43%
- Strong Tenant Base Comprised Largely of National Retailers | 58% of the GLA is Leased to Publicly Traded Companies
- Located on Veterans Boulevard, a Major North-South Thoroughfare | Traffic Counts are 26,800 Vehicles per Day
- Dense Retail Trade Area | Directly Across from The Home Depot and One Block from Plaza Del Sol Mall, Anchored by JCPenney, Marshalls, Cinemark, and Ross Dress for Less
- Close Proximity to Del Rio International Airport | General Aviation Airport and Also Used for Nearby Laughlin Air Force Base Training
- Laughlin Air Force Base is the Largest Pilot Training Base in the US Air Force | Home to Approximately 6,000 Military and Civilian Personnel
- Two Miles from Sul Ross State University Satellite Campus
- Approximately Three Miles from the United States – Mexican Border | The Trade Area Population for Del Rio and Ciudad Acuña Exceeds 235,500
