Olde Towne Shoppes

Price: $6,451,000
Sq. Ft.: 26,110
Cap Rate: 7.45%
Built: 2003

Olde Towne Shoppes is a 26,110-square-foot, newly remodeled multi-tenant retail center located in the western portion of the Dallas-Fort Worth Metroplex in Weatherford, one of the fastest-growing cities in Texas. The center is currently 100 percent leased, and all leases are triple-net. Current average rental rates are 21.2 percent below market, lending to future upside potential. Tenants are a complementary mix of internet-resistant, service-oriented businesses and include Great Harvest Bread Co., Bandi Lou’s Steakhouse, Joe’s Pasta-N-Pizza, Glamour Paws, Renegade Ranch Boutique, Bachman Realty Group, CompuDoc Computer Services, Rock Bottom Liquidations, Haynes Physical Therapy, and Legacy Hair Salon. Joe’s Pasta-N-Pizza is an original tenant in the center for over 20 years, and several tenants have recently exercised early lease extensions, demonstrating their commitment to this location.  The Weighted Average Lease Term is 6.0 years.

Constructed in 2003, the building sits on 2.42 acres with ample concrete parking.  The property was significantly remodeled in 2022 and 2023 including expanding the parking lot to include 18 new paved parking spaces, adding a covered patio area and entryway staircase to the Great Harvest Bread Co. end cap suite, constructing a new exterior façade wall, addition of a five-foot sculpture of a boot in the parking lot, multiple areas with significant landscaping upgrades, and installing hanging tenant signs in the walkway. A double-sided monument sign at the property entrance provides additional exposure.

The subject property is strategically positioned on the signalized hard corner of Fort Worth Highway and North Bankhead Road and is easily accessible from multiple ingress and egress points. Cumulative traffic counts exceed 40,822 vehicles per day. The adjacent pad site is currently under contract with a preferred developer for a national credit coffee shop. Once open for business in 2024, this coffee shop will provide a boost to the prominence and foot traffic of Olde Towne Shoppes. Other national and regional retailers in close proximity include Albertsons, Domino’s, Pizza Hut, Subway, Enterprise Rent-A-Car, Weatherford Farmers Market, Fire Oak Grill, and many others.  Olde Towne Shoppes is in close proximity to Weatherford College, with a current enrollment of over 5,068 students, and Medical City Weatherford, a full-service acute care hospital licensed for 103 beds. The surrounding area is experiencing high growth and benefits from strong demographics. The average household income within three miles of the subject property is $80,651; $87,089 within five miles; and $101,585 within ten miles.

  • Fully Stabilized Asset | 100% Occupied | All Leases are Triple-Net
  • Tenants are a Complementary Mix of Internet-Resistant, Service-Oriented Restaurants and Businesses
  • 100% of the Leases have Personal Guarantees
  •  Current Average Rental Rates are 21.2% Below Market
  • Several Tenants Recently Exercised Early Lease Extensions Demonstrating Their Commitment to the Site | Weighted Average Lease Term is 6.0 Years
  • Building has a Metal Roof and Awnings over the Walkway
  • Landlord Reports Property Improvements Completed in 2022 and 2023 Include Expansion of Concrete Parking Lot to Include 18 New Parking Spaces, Patio & Entryway Staircase Additions to End Cap Suite, New Exterior Façade Wall, Sculpture Installation, Significant Landscaping Upgrades in Multiple Areas, and New Hanging Tenant Signs in the Walkway
  • The Adjacent Pad Site is Currently Under Contract with a Preferred Developer for a National Credit Coffee Shop | Future Traffic Driver to Olde Towne Shoppes
  • Located at the Signalized, Hard Corner of Fort Worth Highway and North Bankhead Road | Cumulative Traffic Counts are Approximately 40,822 Vehicles Per Day | Easily Accessible from Multiple Ingress and Egress Points
  • Close Proximity to Downtown Weatherford | Premier Location for Dining, Shopping, and Entertainment Centered Around the Town Square
  • Near Weatherford College (Serving 5,068+ Students) and Medical City Weatherford, and Full-Service Acute Care Hospital Licensed for 103 Beds
  • Strong Demographics | Average Household Income is $101,585 with a Population Exceeding 85,370 within a Ten-Mile Radius
  • Weatherford is Located 25 Miles West of Fort Worth on Interstate 20 | County Seat of Parker County and Regional Hub for Surrounding Counties