Old FM 440 Plaza

Price: $1,135,000
Sq. Ft.: 8,800
Cap Rate: 8.5%
Built: 2008

Marcus & Millichap is pleased to offer the opportunity to acquire a stabilized 8,800-square foot, multi-tenant retail center in Killeen, Texas. The center is currently 100 percent occupied, and tenants consist of Slumberland Night Care, a barber shop, Buddy’s convenience store, Shalom Hair Braiding, and Cen-Tex Dental. All current leases are gross, providing future upside potential in converting the spaces to triple-net leases. Constructed in 2008, the building is situated on 0.68 acres.

The subject property is located on Old FM 440 Road in a dense residential area of the city. The five-mile population exceeds 141,200 residents. Several school campuses are nearby, both public and private. The subject property is approximately three miles west of a dense retail trade area lining East Central Texas Expressway with national and regional retailers including Walmart Supercenter, H-E-B Plus!, Kohl’s, OfficeMax, Lowe’s Home Improvement, Party City, CATO, Walgreens, CVS, Aaron’s, Hobby Lobby, Dollar Tree, Tractor Supply Co., Academy Sports and Outdoors, PetSmart, ALDI, Spec’s, Ashley HomeStore, Hooters, O’Reilly Auto Parts, Panera Bread, The Home Depot, dd’s Discounts, Shoe Carnival, Regal Cinemas, and numerous others. Additionally, Killeen Mall is situated on the north side of East Central Texas Expressway. The regional mall boosts more than 100 stores and is anchored by Dillard’s, JCPenney, Sears, and Burlington Coat Factory.

  • 8,800-Square Foot, Multi-Tenant Shopping Center
  • 100% Occupied with Gross Leases
  • Upside Potential in Converting to Triple-Net Leases | Most Tenants have No Options for Renewal
  • Diversified, Internet-Resistant Tenant Base
  • Building has a Metal Roof
  • Located in a Dense Residential Area | Population Exceeds 141,200 Residents Within Five Miles
  • Less than Three Miles West of a Major Retail Corridor Lining the East Central Texas Expressway (US Highway 190/Interstate 14) | Numerous National and Regional Tenants Including Walmart, H-E-B Grocery, Lowe’s, Hobby Lobby, Kohl’s, The Home Depot, Dollar Tree, PetSmart, and Killeen Mall that has More than 100 Stores and is Anchored by Dillard’s, JCPenney, Sears, and Burlington Coat Factory
  • Nearby Fort Hood is the Largest Active-Duty Armored Post in the United States | Contributes $24.5 Billion to the Texas Economy | Population Includes 55,261 Direct Employees; 48,280 Dependents; and More than 103,300 Military Retirees Using Base Facilities and Resources