Marcus & Millichap is pleased to offer the opportunity to acquire a 4,550-square foot, two-tenant retail center in the highly affluent Dallas-Fort Worth suburb of Flower Mound, Texas. Fully stabilized, the center consists of Domino’s Pizza and Dr. Lauri Barge, DDS. Both tenants have been in the center since the building was constructed in 2005, providing an established tenant base. Both leases are triple-net and include options for renewal. Domino’s has a strong guarantee from one of the top franchisees in the nation based on sales and service. The dental lease is personally guaranteed by Dr. Barge. The building is situated on a 0.97-acre lot and has a concrete parking lot.
The subject property is located on Long Prairie Road approximately one half of a mile south of the intersection with Cross Timbers Road (FM 1171). Long Prairie Road is a six-lane thoroughfare with traffic counts of approximately 34,000 vehicles per day. National and regional retailers in the area include Kroger, Life Time Fitness, Kohl’s, Dollar Tree, Sprouts Farmers Market, Plato’s Closet, Great Clips, Hand & Stone Massage, School of Rock, Jersey Mike’s Subs, FedEx, Verizon, GNC, Einstein Bros. Bagels, Nothing Bundt Cakes, Regions Bank, Dickey’s Barbecue Pit, Domino’s Pizza, Sherwin-Williams, Market Street grocery store, Floyd’s 99 Barbershop, Mooyah Burgers, Texas Roadhouse, La Madeleine French Bakery & Café, Elements Massage, and others. The surrounding area has excellent demographics; the average household income within one mile of the property is $138,700 and $111,955 within five miles. The area also has a dense residential population of more than 178,160 people within five miles.
Centrally located in North Texas, Flower Mound is a family-oriented community that prides itself on maintaining a small-town atmosphere while embracing and fostering a dynamic economic development environment. After experiencing unprecedented residential growth in the 1990’s, the Town now actively promotes a burgeoning commercial development scene centered around the Lakeside Business District, located on the North Shore of Lake Grapevine, and the Denton Creek District, located in the growing I-35 West corridor.
- Fully Stabilized Two-Tenant Retail Center
- Both Tenants have Been in the Center Since Construction in 2005
- Both Leases are Triple-Net and Include Options for Renewal
- Both Tenants Recently Exercised Early Five-Year Extensions
- Dental Lease has a Personal Guarantee | Tenant Contributed $400,000 in Finish-Out Improvements
- Domino’s has a Strong Franchisee Guarantee | Tenant is One of Only 13 Franchisees in the Country to be Named to Domino’s Exclusive Chairman’s Circle | One of the Top Franchisees in the Nation for Sales and Service | 10 Unit Guarantee | Franchisee Operates a Total of 19 Units
- Building is Situated on a 0.97-Acre Parcel with a Concrete Parking Lot | Domino’s Suite has a Drive-Through Window
- Seller Recently Added Parking Spaces to Accommodate Domino’s Heavy Traffic
- Located on Long Prairie Road Near the Intersection with Cross Timbers Road | Traffic Counts are Approximately 34,000 Vehicles per Day in Front of the Property
- Numerous National and Regional Tenants in the Area, Including Kroger, Life Time Fitness, Kohl’s, Dollar Tree, Sprouts, and More
- Highly Affluent Surrounding Area | One-Mile Average Household Income is $138,700 | Three-Mile Average Household Income is $125,766 | Five-Mile Average Household Income is $111,955
- Densely Populated with more than 178,000 Residents Within Five Miles of the Property