Eastgate Plaza

Sq. Ft.: 112,923
Built: 1966

Eastgate Plaza is a 112,923-square-foot, multi-tenant, community center located in the northeast Waco suburb of Bellmead, Texas. Eastgate Plaza is currently 82 percent occupied, and 57 percent of the gross leasable area has triple-net leases.¬†Anchored by Citi Trends, Dollar Tree, and Crazy Hot Deals, tenants are a complementary mix of credit and local retailers including O’Reilly’s Auto Parts, Buddy’s Home Furnishing, Direct Auto Insurance, Fusion Dental, Cricket Wireless, Faith’s Beauty, Smoke Shop, Stoney’s Liquor, Family Dollar, Vapor Maven, Nails 2000, and a Laundromat. Constructed in 1965 then renovated in 2007, the center sits on a large 7.06-acre parcel with ample paved parking. A large double-sided monument site positioned at the property entrance provides additional exposure to the center. Landlord reports recent property upgrades that include parking lot sealing and restriping, repainting of the entire building exterior, roof coating, and new HVAC units for Dollar Tree and Crazy Hot Deals. Additionally, the offering includes a 0.72-acre pad site for future development opportunities.

The subject property is strategically located off Bellmead Drive near the intersection with Interstate 35. The center benefits from multiple ingress and egress points from all surrounding roadways. Eastgate Plaza is shadow-anchored by a high-volume H-E-B grocery store, ranking in the top 70th percentile based on annual visitors to all H-E-B grocery stores in the state of Texas. Eastgate Plaza is also in close proximity to multiple hotels such as WoodSpring Suites Waco, Comfort Suites, Viking Inn, Delta Inn, Best Western Plus, Quality Inn & Suites, among others providing additional traffic to the area.

  • 112,923-Square-Foot, Multi-Tenant Community Center | Shadow-Anchored by H-E-B Grocery Store | High Traffic Location that Ranks in the Top 70th Percentile for Number of Annual Visitors to H-E-B Stores in the State of Texas (per Placer.ai)
  • Value-Add Opportunity | 82% Occupied with a Mix of Triple-Net, Base Year, and Gross Leases
  • Current Average Rents are Significantly Below Market
  • 70% of the Gross Leasable Area is Leased to National and Regional Retailers | 35% are Publicly Traded Companies: Dollar Tree (NASDAQ: DLTR), Family Dollar (NYSE: FDO), Citi Trends (NASDAQ: CTRN), O’Reilly Automotive (NASDAQ: ORLY)
  • Situated on a Large 7.06-Acre Lot with Ample Paved Parking
  • Landlord Reports Recent Property Improvements Including New Roof Installed with a 10-Year Warranty (2024), Parking Lot Sealing and Restriping (Summer 2023), New Exterior Paint, Several New HVAC Units, and Roof Coating (August 2022)
  • Offering Includes an Additional 0.72-Acre Pad Site for Future Upside Potential
  • Double-Sided Monument Sign Positioned at Property Entrance Provides Additional Exposure to the Center
  • Strategic Location off Belmeade Drive Near the Intersection with Interstate 35 | High Traffic Counts of 99,869 Vehicles Per Day on Interstate 35 and 21,510 Vehicles Per Day on Bellmead Drive
  • Property is Easily Accessible from Ingress and Egress Points from all Surrounding Roads
  • Located Less Than Four Miles from Baylor University | Enrollment of 20,700+ Students (Fall 2022) | Local Economic Impact of $84.5 Million