Marcus & Millichap is pleased to offer the opportunity to acquire a 90,838-square-foot, multi-tenant center with upside potential in Paris, Texas. Paris Medical Plaza is currently 89 percent occupied, and 53 percent of the gross leasable area is leased to medical tenants. The tenant base is a complementary mix of service-oriented and destination businesses, including Special Health Resources for Texas (SHRT), Steps and Stride Therapy Center, Calvary Chapel, PRMC Cardiac Rehab, US Neuro Specialists, Solis Mammography, Quest Diagnostics, and Lutheran Church. The center was constructed in 1987 and is situated on a large 6.96-acre parcel with concrete parking. Large double-sided pylon signage provides exposure to the center.
Paris Medical Plaza is located on Clarksville Street just east of SE Loop 286. The center benefits from multiple ingress and egress points and has traffic counts of approximately 5,479 vehicles per day. Paris Medical Plaza is a little over one mile southeast of a dense retail trade area on Lamar Avenue. Neighboring national and regional retailers include Brookshire’s, EZ Pawn, Rent-A-Center, Golden Chick, Cricket Wireless, Braum’s, Dollar General, CVS Pharmacy, Kroger, Metro by T-Mobile, Family Dollar, Sherwin Williams, and many others. Paris Junior College is in close proximity to Paris Medical Center with a student population exceeding 4,400 students. Paris Junior High School and Paris High School are also nearby, providing additional traffic to the area.
- 90,838-Square-Foot, Mixed-Use Center
- 89% Occupied with Gross and Modified Gross Leases | Significant Future Upside Potential in Leasing the Vacant Space and Converting all Leases to Triple-Net Terms | Pro Forma Cap Rate is 11.27%
- 53% of the Gross Leasable Area is Leased to Medical Tenants | Tenant Base is Comprised of Service-Oriented, Destination Businesses
- Anchored by Special Health Resources of Texas (SHRT) | SHRT is a Comprehensive Health Care System Serving North East Texas and South West Arkansas with Multiple Locations and Mobile Units
- Solis Mammography Recently Renewed for an Additional Five Years with 3% Annual Rent Escalations and Increased Expense Reimbursements
- Landlord Reports a New Roof was Installed in 2020 with a 10-Year Transferable Warranty | Calvary Church is Responsible for Maintaining the Roof over its Space, and Tenant Also Recently Installed a New Roof
- Situated on a 6.96-Acre Lot with Ample Paved Parking | Double-Sided Pylon Signage at the Entrance Enhances Visibility
- Priced at $86 per Square Foot | Well Below Replacement Cost
- Close Proximity to Paris Junior College | Student Enrollment Exceeds 4,400 Pupils
- City of Paris is an Economic Hub of the Red River Valley | Home to Multiple Fortune 500 Manufacturing Facilities (Including Kimberly-Clark and Campbell’s Soup) and Serves as a Regional Hub for Medical Care
- Located Approximately 75 Miles Northeast of the Dallas-Fort Worth Metroplex and 85 Miles West of Texarkana, Texas
