Ridge Road Towne Center

Price: $17,803,700
Sq. Ft.: 54,251
Cap Rate: 6.97%
Built: 2005

Ridge Road Towne Center is a stabilized, multi-tenant neighborhood retail center located in the Dallas suburb of Rockwall, Texas. Tenants include a complementary mix of national, regional, and local tenants including Stretch Zone, 30 Brunch House, Lakes Regional Community Center, House of Gyros, Pokey O’s Cookies & Ice Cream, Papa Murphy’s, XGolf Sports, Dr. Paul Field, HotWorx, Cure Nail Spa, Geico Insurance, Smallcakes Cupcakery, Divas & Darlings Boutique, Chiloso Mexican Bistro, Kid to Kid, Awestruck Design Company, Wingstop, Rockwall Wellness Center, Juvanew Medspa, Children’s Health Specialty Center, North Texas Custom Roofing and Construction Management, and My Computer Guy. The center is currently 100 percent occupied with 87 percent of the gross leasable area on triple-net leases, providing future upside potential. Current average rents are well below market. Originally constructed in 2005, the property is comprised of two buildings situated on a large 7.68-acre parcel with ample paved parking.

The subject property is in a prime location, positioned near the intersection of Ridge Road and Interstate 30. Traffic counts in front of the property on Ridge Road are approximately 25,905 vehicles per day. Located in a dense retail trade area, nearby national and regional tenants include Walmart, Target, Academy Sports and Outdoors, Lowe’s Home Improvement, Costco Wholesale, Best Buy, Home Goods, Shoe Carnival, Five Below, Dick’s Sporting Goods, TJ Maxx, Half Price Books, PetSmart, Dollar Tree, Crumbl Cookies, Kohl’s, The Home Depot, Ross Dress for Less, Michaels, Petco, Office Depot and more. Rockwall High School and Rochell Elementary are also in close proximity to the center providing additional traffic to the area. The property benefits from strong demographics in the surrounding area. The average household income within a one-mile radius is $114,125; $130,285 within a three-mile radius; and $135,504 within a five-mile radius.

  • 54,251-Square-Foot, Multi-Tenant Neighborhood Retail Center Located in the Highly Desirable Dallas Suburb of Rockwall, Texas
  • 100% Occupied | 87% of the Gross Leasable Area has Triple-Net Leases
  • Majority of the Leases Included Scheduled Rent Escalations, Providing Year-Over-Year Income Growth
  • Featuring a Strong Tenant Mix of National, Regional, and Local Tenants | 35% of the Gross Leasable Area is Leased to Medical Tenants
  • Current Average Rents are Well Below Market
  • Future Upside Potential in Converting all Leases to Triple-Net Terms, and Improving Below-Market Rents
  • Landlord Reports a New Roof was Installed in 2022
  • Consists of Two Buildings Situated on a Large 7.68-Acre Lot with Concrete Parking
  • Prime Location with 25,905 VPD | Close Proximity and Access to Interstate 30 Highway with 91,281 VPD | Easily Accessible from Multiple Ingress and Egress Points
  • Adjacent Pad Sites Include Culver’s, Popeyes, and Wendy’s
  • Near Numerous National and Regional Retail Traffic Drivers Including¬†Walmart, Target, Academy Sports and Outdoors, Lowe’s, Costco, Best Buy, Home Goods, Five Below,¬† Dick’s Sporting Goods, TJ Maxx, The Home Depot, Michaels and Many More
  • Located in an Affluent Area of Rockwall | Population is Approximately 100,626 Residents within Five Miles | One-Mile Average Household Income is $114,125 | Three-Mile Average Household Income is $130,285 | Five-Mile Average Household Income is $135,504
  • Just East of Lake Ray Hubbard, a 22,000+ Acre Recreational Lake
  • Approximately 4.5 Miles from Sapphire Bay | $1 Billion Development Including Texas’ First State-of-the-Art Man-Made Lagoon, 500-Room Resort Hotel, 1,500+ Residential Units, and 1.7 Million Square Feet of Mixed-Use Commercial Development