Park Row Shopping Center is a 12,566-square-foot, value-add, multi-tenant retail center located Arlington, Texas. The center is currently 36 percent occupied with a mix of triple-net and gross leases, providing significant upside potential by converting all leases to triple-net and leasing the vacant space. The tenant base consists of internet-resistant, service-oriented businesses including Lucky 1 Food Mart, Shear Delight, and Nails to Impress. The center was constructed in 2017 and is situated on a 0.964-acre parcel.
The subject property is located on West Park Row Drive near the signalized intersection of West Park Row Drive and South Fielder Road. The property benefits from multiple ingress and egress points. Traffic counts in front of the property exceed 19,700 vehicles per day. Park Row Shopping Center is strategically located near many national retailers including Aldi, Dollar Tree, Ace Hardware, CVS Pharmacy, Anytime Fitness, Tom Thumb, Tuesday Morning, Sonic, Petco, Taco Bell, Chipotle, Walgreens, and numerous more. The center is catty corner from The University of Texas at Arlington Campus, the second largest institution in the University of Texas system. The university has an estimated enrollment of more than 43,800 students. The property is also in close proximity to many school campuses providing additional traffic to the area. The surrounding area has strong demographics with approximately 318,025 residents within five miles of the property.
- 12,566-Square-Foot, Multi-Tenant Retail Center
- Value-Add Opportunity with Significant Upside Potential | Currently 36% Occupied with a Mix of NNN and Gross Leases
- Pro Forma Cap Rate is 12.47%
- Current Average Rents are Below Market
- Priced at $92 per Square Foot | Well Below Replacement Cost
- Located on West Park Row Drive | Traffic Counts are Approximately 19,700 Vehicles per Day
- Catty Corner from the University of Texas at Arlington Campus | Second Largest Institution in the UT System | Serves a Population of 43,800 Students
- Near Numerous Other School Campuses, Providing Additional Traffic to the Area
- Extremely Dense Surrounding Residential Population | 318,025 Residents Within a Five-Mile Radius | Average Household Income is $75,473
- The City of Arlington is Home to UT Arlington, Six Flags Over Texas, Cowboy Stadium, the Texas Rangers, and General Motors Operations