Pflugerville West Shopping Center is a 100 percent occupied, 67,231-square-foot, multi-tenant retail center located in the North Austin suburb of Pflugerville, Texas. All leases are triple-net, and 85 percent of the gross leasable area includes rent escalations. Anchored by Ashley Furniture, the tenant base is a complementary mix of internet-resistant, service-oriented businesses and restaurants including Generations Barbershop, Cigar & Tobacco Empire, High Society Relief, Glam Beauty Bar, Fast Signs, Signature Smiles Dentistry and Orthodontics, Enso Nails, Curry Kitchen, Chichos Cuban Pizzeria & Bakery, Cuban Groceries, Maya Grocery Boutique, and Down South Cajjun Eats. Constructed in 2006, the center is situated on a large 5.42-acre parcel with ample paved parking. Large pylon signage on the frontage road provides additional exposure to the center.
The subject property is in a prime location, positioned on the Interstate 35 service road with excellent visibility. Pflugerville West Shopping Center benefits from multiple ingress and egress points and extremely high traffic counts of approximately 156,000 vehicles per day. The center is anchored by a top-performing Ashley Furniture, ranking in the 91st percentile based on annual visitors to Ashley stores in the state of Texas. The subject property is near many national and regional retailers including Cinemark 20 Theatres, Texas Roadhouse, H-E-B grocery store, Domino’s Pizza, Sally Beauty, Goodwill, Burger King, McDonalds, 7-Eleven, Planet Fitness, Starbucks, and many others.
- 67,231-Square-Foot, Multi-Tenant Retail Center
- Fully Stabilized Asset | 100% Occupied with Triple-Net Leases
- Anchored by Ashley Homestore (58% of the Gross Leasable Area) | Remaining Tenants are a Complementary Mix of Internet-Resistant and Service-Oriented Businesses and Restaurants
- Ashley Furniture at this Location is Ranked in the Top 91st Percentile in the United States and the State of Texas, Compared to Other Ashley HomeStore Locations (source: Placer Labs)
- Current Average Rents are Approximately 43% Below Market
- 70% of the Tenants have Scheduled 3-5% Rent Escalations Year-Over-Year
- Property Offers an Attractive Assumable Loan | 4.95% Interest Rate | 5.54% Cash-on-Cash Return
- Desirable Freeway Location off Interstate 35 with Excellent Visibility | Extremely High Traffic Counts of Approximately 156,000 Vehicles per Day
- Easily Accessible from Multiple Ingress and Egress Points | Large Pylon Signage on the Frontage Road Provides Additional Exposure to the Center
- Adjacent Pad Sites Include Cinemark 20 Theatre and Texas Roadhouse
- Surrounding Area has Excellent Demographics | Residential Population is 268,740 People with an Average Household Income of $96,764 within a Five-Mile Radius
- Approximately Four Miles South of Dell Computers International Headquarters | 13,000+ Daily Employees
- Pflugerville is Fast-Growing Suburb of Austin, Located Approximately 14 Miles Northeast of Downtown Austin