Marcus & Millichap is pleased to present the opportunity to acquire a fully stabilized, multi-tenant retail center in a highly-desirable retail trade area in Lewisville, Texas. The Shoppes at Round Grove is a 13,580-square foot shopping strip that is 100 percent occupied, and all leases are triple-net. Tenants are a mix of local businesses, consisting of Pho Bistro II, Coleman Bright Ideas (Texas Hot Tub Company), Slim4Life Weight Loss Center, Empire Finance, and Coral Reef Coffee. Constructed in 2005, the building is situated on 1.79 acres and has a concrete parking lot.
The subject property is located on the hard corner of East Round Grove Road and Uecker Lane. Traffic counts are approximately 47,000 vehicles per day in front of the property. Surrounded by dense retail, The Shoppes at Round Grove is near Music City Mall, anchored by Dillard’s, Sears, JCPenney, Macy’s, and Cinemark and has over 130 retail shops. Other national and regional retailers in the area include Walmart Supercenter, DSW, Bed Bath & Beyond, Burke’s Outlet, HobbyTown USA, Pier 1 Imports, Haverty’s, BBVA, LA Fitness, Romano’s Macaroni Grill, Costco, Guitar Center, Best Buy, Starbucks, BJ’s Restaurant and Brewhouse, Buffalo Wild Wings, Target, At Home, Academy Sports, Conn’s HomePlus, Olive Garden, Marshalls, Hobby Lobby, Michaels, OfficeMax, Barnes & Noble, Dollar Tree, and numerous others. The area has strong demographics, with a five-mile population of 230,897 residents and an average household income exceeding $107,000.
Lewisville is an urban community of over 100,000 people conveniently located in the Dallas-Fort Worth metroplex, only 10 minutes from Dallas-Fort Worth International Airport and bisected by I-35 East and Highway 121. With more than three million square feet of office/industrial space and more new development in the pipeline, Lewisville provides a variety of location options for businesses. Visitors and residents enjoy a variety of recreation and shopping opportunities including a 2000-plus acre nature preserve, a historic downtown, Lewisville Lake and Music City Mall. Lewisville continues to benefit from one of the lowest combined property tax rates in DFW, making Lewisville an attractive location for business and residents.
- 13,580-Square Foot, Multi-Tenant Retail Center
- 100% Occupied | All Leases are Triple-Net
- Rents are Below Market
- Coleman Bright Ideas (Texas Hot Tubs) Recently Exercised a Five-Year Renewal Option Early
- Property is on 1.79 Acres with a Concrete Parking Lot and Ample Parking
- Hard Corner Location on East Round Grove Road and Uecker Lane | Traffic Counts are Approximately 47,000 Vehicles per Day
- Dense Retail Trade Area | Close Proximity to Walmart Supercenter and Music City Mall | Mall has 130 Stores and is Anchored by Dillard’s, Macy’s, Zion Marketplace, and Cinemark | Numerous other National Credit Tenants in the Surrounding Area
- Strong Demographics | Average Household Income Exceeds $107,000 within Five Miles | Population is 230,897 Residents
