Marcus & Millichap is pleased to offer the opportunity to acquire a 42,847-square-foot, multi-tenant retail center located in Lewisville, Texas. Round Grove Crossing is 91 percent occupied with a mix of triple-net and gross leases. Tenants are predominantly internet-resistant, service-oriented local businesses, including NTB, Hookah Hut Lounge, Vista Ridge Chiropractic, Beijing Foot Spa, The Lewisville Dentist, Indopak Super Market, Amore’s Italian Restaurant, Rio Chilero Grill, Millennium Hair Salon, Jackie’s Ham & Eggs, Daddy Rabbit’s Pub, and Enlighten Academy. Constructed in 1983, the building is situated on a 3.57-acre lot with ample paved parking and highly visible pylon sign that provides exposure to the center. New exterior paint on the building facade will be completed in August 2022.
- 42,847-Square-Foot, Multi-Tenant Retail Center
- 91% Occupied | 79% of the Shopping Center GLA has Triple-Net Leases | Upside Potential in Leasing Vacant Space and Converting Gross Leases to Triple-Net
- Tenant Base is a Complementary Mix of Internet-Resistant, Service-Oriented Businesses with Staggered Lease Expirations
- Current Average Rents are Well Below Market
- Situated on a 3.57-Acre Lot with Ample Paved Parking on all Sides of the Building | Double-Sided Pylon Sign at the Entrance Enhances Visibility
- Seller Reports Recent Property Improvements Including a New Roof Installed in July 2022, and Exterior Painting of Building Facade to be Completed in August 2022
- Located at the Signalized Hard Corner of Round Grove Road and Deer Run, Directly West of Highway 121 | Traffic Counts Exceed 29,471 Vehicles Per Day
- Centrally Located Between Lewisville Lake and Grapevine Lake, Two of the Most Visited Recreational Lakes in North Texas
- Near Numerous National and Regional Retailers Including Walmart Supercenter, Ross Dress for Less, Bed Bath & Beyond, Burke’s Outlet, DSW, ULTA, Total Wine & More, Burlington, Dollar Tree, Hobby Lobby, and Many More
- Less than Two Miles from Music City Mall | Anchored by Dillard’s Clearance Center, Cinemark Theatres, and Zion Market
- Surrounding Area has Desirable Demographics | The Average Household Income is $85,653 within a One-Mile Radius; $105,286 within a Three-Mile Radius; and $116,092 within a Five-Mile Radius | Densely Populated with more than 238,426 Residents Located within a Five-Mile Radius
