Marcus & Millichap is pleased to present the opportunity to acquire a 23,380-square foot, multi-tenant retail center located in a densely populated area of River Oaks (Fort Worth), Texas. The center is currently 100 percent occupied with a complementary mix of tenants, and all leases are triple-net. River Oaks Shopping Center is anchored by Dollar Tree and La Michoacana grocery chain. Other tenants include MetroPCS and Fred Loya Insurance. Dollar Tree and MetroPCS are publicly-traded companies on NASDAQ. The center was constructed in 1968, renovated in 2013, and is situated on a 1.378-acre parcel.
The subject property is located on River Oaks Boulevard near the signalized intersection of River Oaks Boulevard and Long Avenue. Traffic counts exceed 20,200 vehicles per day in front of the property. River Oaks Shopping Center is near many national and regional retailers including Walmart, O’Reilly Auto Parts, CVS Pharmacy, Advance Auto Parts, Little Caesars Pizza, Kentucky Fried Chicken, Domino’s Pizza, Taco Bell, and more. The subject property is directly across from three public services buildings including the River Oaks Police Department, River Oaks City, and River Oaks Library and in close proximity to many schools providing additional traffic to the area. The property is near Lockheed Martin corporate offices and the Naval Air Station Fort Worth Joint Reserve Base (NAS JRB), home to a variety of Navy, Marine Corps, Air Force, Army and Texas National Guard units with more than 10,000 active duty military, Guardsmen, Reservists, and civilian employees. The surrounding area has strong demographics, with a five-mile average household income of approximately $78,153 and the five-mile population exceeding 223,685 residents.
- 23,380-Square Foot, Multi-Tenant Retail Center Anchored by Dollar Tree and La Michoacana Grocery Chain
- La Michoacana is the Largest Chain of Hispanic Supermarkets in the Nation with More Than 140 Locations | Per Landlord, Tenant has Invested over $1MM in Finish Out at This Location
- 100% Occupied | All Leases are Triple-Net
- All Tenants are National or Regional Credit Tenants | Dollar Tree and MetroPCS are Publicly-Traded Companies
- Priced at $118 Per Square Foot | Below Replacement Cost
- 94% of the Gross Leasable Area has Renewal Options
- Average Rents are Below Market
- Located on River Oaks Boulevard with Easy Access and a Highly Visible Pylon Sign
- Numerous National and Regional Tenants in the Surrounding Area including Walmart, O’Reilly Auto Parts, CVS Pharmacy, Advance Auto Parts, Little Caesars Pizza, Kentucky Fried Chicken, Domino’s Pizza, Taco Bell, and More
- Five Miles Northwest of Downtown Fort Worth
- Densely Populated Area with More than 223,685 Residents Within a Five-Mile Radius
- Close Proximity to Lockheed Martin and the Naval Air Station Fort Worth Joint Reserve Base (NAS JRB), Two of Fort Worth’s Major Employers | NAS JRB is Home to 10,000