Northwend Shopping Center is a 64,099-square-foot, multi-tenant retail center strategically located in a dense residential area in Austin, Texas. The center is 77 percent occupied, allowing significant upside potential in leasing the vacant suites. Anchored by Rodeo Night Club and Dollar Tree, other tenants include Marisco Grill, Star Bright Cleaners, Resistant Fit Herbalife, La Herencia Western Wear, Stephanie’s Boutique, Benito Wireless, Staff Zone, Kathin Beauty Salon & Spa, Royal Vision, Austin Mutual Agency, Dinh Noodle House, Arbor Dental, Chicoine Chiropractic, Metro PCS, Jackson Hewitt, Soap Bubbles Washateria, and Seoulju Korean Kitchen. Constructed in 1984, the building is situated on a large 8.8-acre parcel and features a prominent multi-tenant pylon sign for added visibility.
The subject property is positioned on the east side of North Lamar Boulevard with a signalized entry point at the intersection with Rutland Drive. North Lamar Boulevard is one of the major north/south thoroughfares in the area and benefits from high traffic counts of 43,000 vehicles per day in front of Northwend Shopping Center. Numerous national and regional retailers neighbor the property, including H-E-B Grocery Store, Jefferson Dental, Burger King, Walgreens, Taco Bell, McDonald’s, Whataburger, Golden Chick, Cici’s Pizza, AutoZone, O’Reilly Auto Parts, NAPA Auto Parts, 7-Eleven, and others. Several school campuses are in close proximity to Northwend Shopping Center, providing additional traffic to the area. Surrounding demographics are strong, featuring a five-mile population of more than 346,280 residents and an average household income exceeding $96,000.
- 64,099-Square-Foot, Multi-Tenant Retail Center
- Value Add Opportunity | 77% Occupied with Staggered Lease Expiration Dates | Current Average Rents are Well Below Market | Pro Forma Cap Rate is 8.00%
- All Current Leases are Triple-Net
- Anchored by Rodeo Night Club and Dollar Tree | Tenants are a Complementary Mix of Mostly Local, Service-Oriented and Internet-Resistant Businesses
- Well Positioned Along North Lamar Boulevard | High Traffic Counts Exceeding 43,000 Vehicles per Day
- Property is Easily Accessible from Multiple Ingress and Egress Points
- Highly Visible Multi-Tenant Pylon Sign Located at the Signalized Entrance at North Lamar Boulevard and Rutland Drive
- Located Directly Across from H-E-B Grocery Store | Numerous National and Regional Retailers in the Neighboring Area
- Close Proximity to Several School Campuses, Providing Additional Traffic to the Area
- Highly Desirable Demographics | Densely Populated with Approximately 346,280 Residents Within a Five-Mile Radius | Five-Mile Average Household Income Exceeds $96,000
- The City of Austin is the State Capital of Texas and Home to The University of Texas at Austin, Serving a Population of More Than 50,000 Students