Independence Park

Price: $11,490,000
Sq. Ft.: 31,908
Cap Rate: 6.19%
Built: 1994

Marcus & Millichap is pleased to present the opportunity to acquire Independence Park, a 31,908-square-foot shopping center in the desirable North Dallas suburb of Plano, Texas. The multi-tenant center is 100 percent occupied. All current leases are triple-net and consist of a complementary mix of internet-resistant tenants, including Sigel’s Beverages, Salsa Tex Mex restaurant, Pizza Hut, Heena Salon, Millstone Bakery, Leslie’s Pool Supplies, Farmer’s Insurance, State Farm, M3 Salon, Classy Doggie Cuts, #1 Alterations, Nails in Time, American Shaman CBD, GRIT Factory martial arts studio, Honor Yoga, Beyond Nutrition and Green Dental Group. The building was originally constructed in 1994 and sits on 2.67 acres.

The subject property is located at heavily traveled intersection of Legacy Drive and Independence Parkway, with ingress and egress points for both roads. Traffic counts on Legacy Drive are approximately 30,300 vehicles per day and 23,650 vehicles per day on Independence Parkway. Neighboring national and regional retailers include Anytime Fitness, Baskin Robbins, 7-Eleven, Chipotle Mexican Grill, Kwik Kar Lube & Tune, Kroger grocery store, Einstein Bros. Bagels, GameStop, T-Mobile, Once Upon a Child, Subway, and Dunkin’. Independence Park is surrounded by densely populated, upper middle class neighborhoods with strong demographics. The one-mile average household income is $143,103; the three-mile average household income is $135,014; and the five-mile average household income is $123,056  The population within five miles of the property is approximately 330,375 residents.

  • 31,908-Square-Foot, Multi-Tenant Neighborhood Shopping Center
  • 100% Occupied | All Leases are Triple-Net
  • Complementary Mix of Tenants Comprised of Internet-Resistant, Service-Oriented Businesses
  • Majority of the Leases Contain Scheduled Rent Increases
  • Situated on 2.67 Acres with a Concrete Parking Lot
  • Located at the High-Traffic, Signalized Intersection of Legacy Drive and Independence Parkway | Ingress and Egress Points from Both Roads | Approximately 30,300 Vehicles per Day on Legacy Drive | 23,650 Vehicles per Day on Independence Parkway
  • Located in a Densely Populated, Highly Affluent Area of North Plano | Population is more than 330,375 Residents within Five Miles | One-Mile Average Household Income is $143,103 | Three-Mile Average Household Income is $135,014 | Five-Mile Average Household Income is $123,056
  • Plano is Home to Many Regional Corporate Offices, Including Intuit, Ericsson, McAfee, Frito-Lay, Pizza Hut, PepsiCo, DXC (Formerly Hewlett Packard Enterprise), Bank of America Home Loans, FedEx Office & Print Services, and Others
  • New Construction Includes Headquarters for Toyota Motor North America and Regional Headquarters for Liberty Mutual Insurance Co. and JPMorgan Chase