Martindale Shopping Center

Price: $5,600,000
Sq. Ft.: 75,104
Cap Rate: 7.0%
Built: 1970

Martindale Shopping Center is a value-add, multi-tenant neighborhood retail center strategically situated to serve a dense residential area in Amarillo, Texas. The center is comprised of multi-tenant and single-tenant buildings totaling 75,104 square feet of leasable area, situated on approximately 6.9 acres.  Martindale Shopping Center is currently 82 percent occupied with a complementary mix of credit and local tenants. Anchored by Family Dollar and Dollar Tree, other major tenants consist of USPS, The Universal Church, Martin Road Eye Care, Boost Mobile, El Pelaton Ice Cream Shop, Fred Loya Insurance, Sun Loan, and others.

Martindale Shopping Center is located on the signalized hard corner of US Route 66 and Martin Road, with tenants located on both the east and west sides of Martin Road. The property is easily accessible from multiple ingress and egress points. Cumulative traffic counts are approximately 21,500 vehicles per day.  The property is well-situated to serve a dense residential community of approximately 108,146 residents within a five-mile radius.  Other neighboring retailers include United Supermarkets, Aaron’s, Little Caesar’s Pizza, Sonic, Braum’s, Rent-A-Center, Advance Auto Parts, AutoZone, O’Reilly Auto Parts, Wienerschnitzel, Cricket Wireless, among others.

Amarillo is located in a unique and history-rich area where the southern plains meet the desert. Amarillo and the surrounding Panhandle area are a unique blend of two American eras; working western ranches and a vibrant twenty-first-century economy, making Amarillo the perfect mix of old and new Texas traditions. The city is the county seat of Potter County, the 14th most populous city in Texas and the largest city in the Texas Panhandle, serving as a hub for surrounding communities. The Amarillo metropolitan area population is projected to surpass 310,000 people in 2020. Amarillo is served by two interstate highways; Interstate 27 and Interstate 40. The city also has air transportation from Rick Husband Amarillo International Airport, and additionally from Tradewind Airport, a public-use general aviation airport.

  • 75,104-Square-Foot, Multi-Tenant Retail Center
  • Value-Add Opportunity | Pro Forma Cap Rate is 9.71%
  • 82% Occupied with a Complementary Mix of National and Local Tenants
  • 66% of the Gross Leasable Area has Triple-Net Leases
  • Anchored by Family Dollar and Dollar Tree | Both are Publicly Traded Companies (NYSE: FDO and NASDAQ: DLTR)
  • Priced at $75 per Square Foot | Well Below Replacement Cost
  • Comprised of Multi-Tenant and Single-Tenant Buildings Situated on Approximately 6.9 Acres
  • The Centers Occupy Two Signalized Hard Corners on the East and West Sides of Martin Road at the Intersection with US Route 66 (Amarillo Highway)
  • Cumulative Traffic Counts are Approximately 21,500 Vehicles per Day
  • Well Positioned to Serve a Densely Populated Area of 108,146 Residents Within a Five-Mile Radius
  • Amarillo is the Largest City in the Texas Panhandle and Serves as the Retail Hub for a Surrounding Population of 310,000 People