Richland Plaza is a 19,615-square-foot, multi-tenant retail center comprised of two buildings, located in the northern portion of Dallas, Texas. The center is currently 83 percent occupied with triple-net leases, providing upside potential in leasing the vacant suites. The tenant base is a complementary mix of internet-resistant and service-oriented businesses. Tenants comprising the multi-tenant building include Clinica Hispana del Metroplex, Donut Palace, Neon Nails, Menquale Halal Shop, Hairmaster Beauty Supply, Louisiana Famous Fried Chicken, Emma-Blessed Hair Braiding, and O Laundry. The single-tenant building is leased to Food Mart convenience store. Constructed in 1979, the buildings are situated on a 2.11-acre parcel.
Richland Plaza is located at the signalized, hard corner of Walnut Street and Audelia Road, with multiple ingress and egress points from each road. Cumulative traffic counts are approximately 49,130 vehicles per day. The Dallas College Richland campus is directly across from Richland Plaza, serving the area for nearly 50 years and home to over 20,500 students. The property is strategically located to serve an extremely dense residential population exceeding 394,650 residents within a five-mile radius. Daytime employment is approximately 233,960 people within five miles. Several corporate headquarters are in close proximity, including Texas Instruments, Fossil, and Raytheon Technologies.
- 19,615-Square-Foot, Multi-Tenant Neighborhood Retail Center
- 83% Occupied | All Leases are Triple-Net
- Upside Potential in Leasing the Vacant Suites | Pro Forma Cap Rate is 9.72%
- Current Average Rents are Below Market
- Property Consists of a Single-Tenant Building Leased to a Food Mart Convenience Store and a Multi-Tenant Building Featuring a Complementary Mix of Internet-Resistant, Service-Oriented Businesses
- Signalized, Hard Corner Location at the Intersection of Walnut Street and Audelia Road | Easily Accessible from Multiple Ingress and Egress Points | Combined Traffic Counts Exceed 49,130 Vehicles per Day
- Across from Dallas College Richland Campus | Enrollment of 20,500+ Students
- Adjacent to Tides at Whispering Hills Apartments | 313 Housing Units within Walking Distance
- Close Proximity to Corporate Campuses for Texas Instruments, Fossil, and Raytheon Technologies | Part of a Large Daytime Workforce of 233,960+ Employees within Five Miles of the Subject Property
- Well Positioned to Serve an Extremely Dense Residential Population of more than 394,650 People within a Five-Mile Radius, having an Average Household Income of $88,458
