Marcus & Millichap is pleased to offer the opportunity to acquire a fully leased 19,107-square-foot, three-tenant retail center located in Wichita Falls, Texas. The property is anchored by Dollar General, and the tenant has 7.5 years remaining on the term with four, five-year options for renewal. Dollar General pays a fixed amount towards common area maintenance expenses, with scheduled increases every five years. Other tenants consists of Wash ‘N Go and Liquor ‘N Wine; both are on new 10-year leases with triple-net terms. The building is situated on 1.85 acres with ample parking. A double-sided pylon sign is positioned on the corner, providing additional exposure to the center.
Dollar General Retail Center is located at the hard corner of Ninth Street and Denver Street. Cumulative traffic counts in front of the property exceed 8,416 vehicles per day. The property is located near many national and regional retailers including Walgreens, Family Dollar, Uhaul, Sonic, O’Reilly Auto Parts, IHOP, McDonald’s, and more. Dollar General Retail Center is located less than one mile from United Regional Health Care System. The hospital provides comprehensive medical care including inpatient and outpatient services, advanced diagnostics, surgical specialties, and life-saving emergency care to a nine-county service area. United Regional is the area’s only Level II Trauma Center and serves as the Primary Stroke Center for the region. The subject property is less than three miles from Midwestern State University, having an estimated enrollment of 6,000 students. The university is one of four independent public universities in Texas and is the state’s only public institution focused on liberal arts.
- 100% Leased, 19,107-Square-Foot, Multi-Tenant Retail Center
- Anchored by Dollar General (57% of the Gross Leasable Area) | Publicly Traded on the New York Stock Exchange (NYSE: DG) | 7.5 Years Remaining on the Original Term with Four, Five-Year Options to Renew at Scheduled Rent Increases | Tenant Pays a Fixed CAM Amount with Scheduled Reimbursement Increases Every Five Years
- Remaining GLA consists of Two New Tenants on 10-Year Leases with Triple-Net Terms | Currently in Buildout Phase and Anticipated to Open Fourth Quarter 2023
- Current Average Rents are Below Market
- Priced at $165 Per Square Foot
- Hard Corner Location at the Intersection of Ninth Street and Denver Street | Cumulative Traffic Counts are Approximately 8,416 Vehicles Per Day
- Three Miles from Midwestern State University | Estimated Enrollment of 6,000 Students | One of Four Independent Public Universities in Texas | The State’s Only Public Institution Focused on Liberal Arts
- Less than One Mile from United Regional Health Care system | Hospital Provides Comprehensive Medical Care Including Inpatient and Outpatient Services
- Wichita Falls is Home to Sheppard Air Force Base, the Largest and Most Diversified Training Center in Air Education and Training Command | Training Center for more than 60,000 Airmen and Personnel Annually