Marcus & Millichap is pleased to offer the opportunity to acquire a value-add neighborhood shopping center in the desirable Dallas-Fort Worth suburb of Keller, Texas. Keller Commons is a 29,791-square foot multi-tenant building that is currently 82 percent occupied, providing upside potential in leasing the vacant space. All current leases are triple-net, and tenants consist of a complementary mix of internet-resistant retailers including Lupe’s Tex Mex Grill, Island Time Fitness, Act One Dance Studio, Superior Urgent Care, SIMOS Insourcing, The Cleaners, Acurity Hearing, Freeman’s Martial Arts, Fancy Nails, and #1 Foot Massage. Constructed in 2005, the building is situated on a large 4.48-acre lot with ample concrete parking. Two additional 1.07-acre pad sites adjacent to the property are available for purchase, priced at $9.12 per square foot.
The subject property is located on Rufe Snow Drive just south of North Tarrant Parkway. Traffic counts on Rufe Snow are approximately 22,360 vehicles per day, and over 34,270 vehicles per day on North Tarrant Parkway. Shadowed by a Walmart Neighborhood Market, other national retailers in the neighboring area include Lowe’s Home Improvement, Family Dollar, Family Video, Kroger, CVS Pharmacy, Sherwin-Williams Paint Store, Children’s Learning Adventure, McDonald’s, BBVA Compass Bank, Subway, and more. The surrounding area has excellent demographics; the one-mile average household income is $105,000, and the population is more than 272,700 residents within five miles of the property.
Keller is located in Northern Tarrant County in the heart of the Dallas-Fort Worth metroplex with easy access to major business and activity centers. The city is approximately 15 miles northeast of downtown Fort Worth, 25 miles northwest of downtown Dallas, and nine miles west of DFW International Airport. In 2009, it was ranked 7th in Money Magazine’s list of best cities to live in the United States.
- Value-Add Multi-Tenant Neighborhood Shopping Center
- Shadow-Anchored by Walmart Neighborhood Market
- Currently 82% Occupied | Upside Potential in Leasing Vacant Space | Pro Forma Cap Rate is 10.72%
- All Leases are Triple-Net
- Complementary Mix of Internet-Resistant Tenants
- Situated on a Large 4.48-Acre Lot with a Concrete Parking Lot
- Two Out Parcels Available for Purchase | Each Parcel is 1.07 Acres and Priced at $9.12 per Square Foot | Both have Rufe Snow Frontage
- Property is Located on Rufe Snow Drive Just South of North Tarrant Parkway | Traffic Counts are Approximately 22,360 Vehicles per Day on Rufe Snow and 34,270 Vehicles per Day on North Tarrant Parkway
- Near Lowe’s Home Improvement, Kroger, Family Dollar, CVS Pharmacy, and other National Retailers
- Excellent Surrounding Demographics | Average Household Income of $105,000 within a One-Mile Radius | Population Exceeds 272,700 Residents within Five Miles