La Marina Plaza

Price: $5,850,000
Sq. Ft.: 23,004
Cap Rate: 7.87%
Built: 1985

La Marina Plaza is a 23,004 square foot multi-tenant retail center in Lake Worth, Texas. The center is 100 percent occupied, and all leases are triple net. Anchored by Texas Health Resources, other tenants consist of Vallico, Lake Worth Pharmacy, Laboratory Corporation of America, and Benchmark Research, with a Chevron gas pad fronting Boat Club Road. All of the tenants have occupied the center for over nine years, with the average length being 14 years. The building was constructed in 1985 and sits on 2.22 acres.

The subject property is located at the signalized hard corner of Boat Club Road and Shadydell Drive near Lake Worth and Eagle Mountain Lake. Cumulative traffic counts are approximately 20,000 vehicles per day. Lake Worth High School is directly across Shadydell Drive. The subject property is located in a dense residential area, with a population of over 143,350 residents within five miles. The property is less than one mile north of Loop 820, lined with national and regional retailers such as Kohl’s, Bed Bath & Beyond, Rack Room Shoes, Marshalls, McAlister’s Deli, Sleep Experts, Kirkland’s, Firehouse Subs, Batteries Plus, The Home Depot, Just Brakes, Rosa’s Cafe, Albertsons, Dollar Tree, Walmart Supercenter, Hobby Lobby, PetSmart, Ross Dress for Less, Famous Footwear, Michaels, Five Below, Target, and many others.

  • 23,004 Square Foot Multi-Tenant Retail Center
  • 100% Occupied with Established Tenants | All Tenants Have Been in the Center for Over Nine Years | Average Lease Commencement 14 Years
  • All Leases are Triple-Net
  • 90% of the Gross Leasable Area has Medical Tenants
  • Anchored by Texas Health Resources | Tenant has Invested $40,000 in Improvements in the Past Two Years
  • Chevron Gas Pad Located on the Property | Clean Phase II Environmental Report from 2016
  • Signalized Hard Corner Location at Boat Club Road and Shadydell Drive, Less Than One Mile From Loop 820
  • Cumulative Traffic Counts are Approximately 20,000-VPD
  • Densely Populated Area with Over 143,350 Residents Within Five Miles