Parker Square Shopping Center

Price: $14,000,000
Sq. Ft.: 94,532
Cap Rate: 7.63%
Built: 1955/1996

Marcus & Millichap is pleased to offer the opportunity to acquire a 94,532-square-foot, multi-tenant community center in a prime retail corridor of Wichita Falls, Texas. Parker Square Shopping Center is anchored by Crunch Fitness; other tenants include Wells Fargo Advisors, Sewn Clothing, Primp and Blow, Massage Envy, Jason’s Deli, Elite Nail and Spa, The Carlson Law Firm, Dove’s Jewelry, Tangles, NY Barber Shop, Intrepid USA Healthcare, Holders Jewelry, Menchies Yogurt Shop, Taki Ramen, Deatherage Optical, Lendmark Financial, CBD American Shaman, Vexus Fiber, and First United Bank. The center is 97 percent occupied, and all leases are triple-net. The shopping center is comprised of three multi-tenant buildings featuring attractive architecture, situated on a combined 11.91 acres with ample paved parking.

  • 94,532-Square-Foot, Multi-Tenant Community Center | 97% Occupied | All Leases are Triple-Net
  • Anchored by Crunch Fitness (43% of the Gross Leasable Area) | Strong Tenant Base | 68% of the Gross Leasable Area is Leased to National or Regional Tenants
  • Property is Comprised of Three Multi-Tenant Buildings Situated on 11.91 Acres with Ample Paved Parking
  • Landlord Reports Roughly $80,000 in Recent Roof Replacement
  • Adjacent Pad Sites Include Cinemark Theatres, Applebee’s, First Capital Bank of Texas, and Union Square Credit Union (Not a Part)
  • Prime Location on the Signalized Intersection of Kell E Boulevard (Highway 277 Access Road) and Kemp Boulevard | Cumulative Traffic Counts are Approximately 26,829 Vehicles per Day
  • Excellent Freeway Visibility and Multiple Ingress and Egress Points Provide Easy Access to the Center
  • Dense Retail Trade Area Featuring Numerous National Retailers | Less than One Mile from Sikes Center Mall | Anchored by JCPenney, Dillard’s, and Hibbett Sports
  • Close Proximity to Midwestern State University | Student Enrollment of Approximately 5,797 Undergraduate and Graduate Students
  • Wichita Falls is Home to Sheppard Air Force Base, the Largest and Most Diversified Training Center in Air Education and Training Command | 20,000 Permanent Military Members and Support Personnel | Hosts more than 60,000 Airmen and Personnel for Training Annually