Grapevine Plaza – Grapevine, TX

Price: $3,000,000
Sq. Ft.: 14
Cap Rate: 7.22%
Built: 1999
Absolute NNN, Gross

Grapevine Plaza is a 14,000-square foot multi-tenant mixed use center in the highly desirable DFW suburb of Grapevine, Texas. The center is 100 percent occupied with the majority of the gross leasable area having triple-net leases. Tenants include Vista Rehab, Real Choices Pregnancy Clinic, Allstate Insurance, and Eclipse Imaging Center. Constructed in 1999, the building is situated on 1.83 acres with paved parking in front and back of the building.
The subject property is located in a dense retail trade area on Ira E. Woods Avenue just west of TX-114. Traffic counts on Ira E. Woods Avenue are approximately 30,000-vehicles per day and 183,000-vehicles per day on TX-114. Hundreds of national and regional retailers are in the area, including Academy Sports and Outdoors, Best Buy, Buffalo Wild Wings, California Pizza Kitchen, Red Robin, Outback Steakhouse, Cinemark, Chili’s, Target, Walmart, Sam’s Club, Tom Thumb grocery store, Lowe’s, The Home Depot, World Market, Kroger, HomeGoods, Toys ‘R Us, Staples, Bed Bath & Beyond, Chipotle, BJ’s Restaurant and Brewhouse, TJ Maxx, Kohl’s, Ulta, Old Navy, and numerous others. The property lies in a highly affluent area with excellent demographics. The five mile average household income exceeds $137,600 with over 122,000 residents.
Grapevine is located in the center of the Dallas/Fort Worth region, 21 miles northwest of downtown Dallas and 19 miles northeast of downtown Fort Worth. The city is home to the Dallas/Fort Worth International Airport, the third busiest airport in the world by aircraft movements and the city’s largest employer with 60,000 employees. Two-thirds of the airport, including all terminal buildings, are located within Grapevine city limits. The cities of Colleyville, Southlake, Euless, Coppell and Lewisville, all rapidly growing communities, are located adjacent to Grapevine.

• 100% Occupied Multi-Tenant Center
• 65% of the GLA has Triple-Net Leases
• 93% of the GLA is occupied by Medical Offices
• Desirable Location on Ira E. Woods Avenue Less than a Mile West of TX-114
• Traffic Counts are 30,000-VPD on Ira E. Woods and 183,000-VPD on TX- 114
• Dense Retail Trade Area Surrounded by Hundreds of National and Regional Tenants
• Close Proximity to DFW International Airport ~ Third Busiest Airport in the World By Aircraft Movements ~    Major Employer of 60,000 People
• Highly Affluent Area ~ Five Mile Average Household Income is Over$137,600