Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, 13,362-square-foot, multi-tenant retail center located in Whitney, Texas. The property is currently 62 percent occupied, providing upside potential in leasing the remaining vacancy. Anchored by Family Dollar, the tenant has been a part of the center for almost 20 years. The lease includes six, five-year options for renewal with 10 percent rent escalations scheduled at the beginning of each option period. The building is situated on 1.38 acres with ample paved parking.
Family Dollar Retail Center is located on South Bosque Street and is easily accedssible from multiple ingress and egress points. Cumulative traffic counts in front of the property exceeding 6,279 vehicles per day. The property is located near national and regional retailers including Exxon, Ace Hardware, Texaco, Subway, McDonald’s, Dollar General, Chicken Express, and others. Several school campuses are in close proximity, including Whitney Elementary School, Whitney Intermediate School, Whitney Head Start, Whitney Middle School, and Whitney High School, driving additional traffic to the area. The average household income is $70,041 within three miles; $69,738 within five miles; and $75,596 within ten miles.
- 13,362-Square-Foot, Multi-Tenant Retail Center
- Value-Add Opportunity | Currently 62% Occupied
- Anchored by Family Dollar (62% of the Gross Leasable Area) | Publicly Traded Company (NASDAQ: DLTR) | Long-Term Tenant with Six, Five-Year Renewal Options at 10% Rent Increases
- Upside Potential in Leasing the Remaining 5,040-Square-Foot Vacancy
- Priced at $56 Per Square Foot | Well Below Replacement Cost
- 50% LTV Seller Carry Option Available | Contact Broker for Info
- Well Positioned on South Bosque Street with Multiple Ingress and Egress Points | Cumulative Traffic Counts are Approximately 6,279 Vehicles Per Day
- Close Proximity to Multiple School Campuses Including Whitney Elementary School, Whitney Intermediate School, Whitney Head Start, Whitney Middle School, and Whitney High School
- Average Household Income is Approximately $70,041 within Three Miles; $69,738 within Five Miles; and $75,596 within Ten Miles
- Lake Whitney State Park is Located Eight Miles from the Property Providing Recreational Activities Such as Fishing, Swimming, Boating, Skiing, Exploring Trails, Geocaching, and Camping
- Whitney is Located in Hill County, 12 Miles West of Hillsboro and 60 Miles South of the Dallas/Fort Worth Metroplex
