Shops at Presidio

Price: $15,200,000
Sq. Ft.: 24,031
Cap Rate: 5.81%
Built: 2018

The Shops at Presidio is a 24,031-square-foot, multi-tenant retail center located in a dense residential area of Cedar Park, Texas. Constructed in 2018, the center is situated on a 4.2-acre parcel and is comprised of one multi-tenant building and one single-tenant building. The center is 100 percent leased, and all leases are triple-net. Tenants are a complementary mix of restaurants and service-oriented businesses, including Verizon Wireless, Mandola’s Italian Market, Best in Class Education Center, Swish Dental, The UPS Store, Barre3, Sap’s Fine Thai Cuisine, Lavish Nails & Spa, and Rumble Boxing.

The Shops at Presidio is located on the signalized, hard corner of West Parmer Lane and Ranch Trails. Traffic counts exceed 37,000 vehicles per day in front of the property. The subject property is part of a 25-acre master planned mixed-use development that includes roughly 60,000 square feet of office space currently with an additional 63,000 square feet permitted, and 337 multi-family housing units (Latitude at Presidio apartments). Presidio Phase II is a future mixed-use development just north of the subject property; situated on 250+ acres. Located in a dense residential neighborhood, the population exceeds 65,170 residents within a three-mile radius and 192,673 residents within a five-mile radius. The Shops at Presidio benefits from close proximity to several school campuses: Vista Ridge High School, Henry Middle School, and Reagan Elementary School. National and regional retailers in the nearby area include H-E-B Grocery, The Home Depot, Walmart, Starbucks, Costco, Whole Foods, Nordstrom Rack, Dicks Sporting Goods, Grove Wine Bar & Kitchen, Hopdoddy, Jack Allen’s Kitchen, Moonshine Grill, Bank of America, Whataburger, Academy Sports and Outdoors, Rosa’s Café, Target, Cinemark, Natural Grocers, PetSmart, and more.

  • 24,031-Square-Foot, Multi-Tenant Retail Center Located in a High-Growth Suburb of Austin | 100% Occupied | All Leases are Triple-Net
  • Part of a 25-Acre Master Planned Mixed-Use Development Containing 337 Multi-Family Units; 60,000 Square Feet of Current Office Space; and an Additional 63,000 Square Feet of Permitted Office Space on the Remaining Lot
  • Tenant Base is a Complementary Mix of Internet-Resistant, National and Local Retailers
  • Steady Year-over-Year Income Growth Potential Due to Scheduled Rent Bumps and Percentage Rent Income
  • Comprised of One Multi-Tenant Building and One Single-Tenant Building Situated on 4.2 Acres with Approximately 9.4 Parking Spaces per 1,000 Square Feet and Reciprocal Parking Rights with Adjacent Properties
  • Building is Newer (2018) Construction with Attractive Architecture and Outdoor Amenities Featuring Mature Oak Trees, Two Outdoor Dining Decks, Synthetic Grass Courtyard and Playscape
  • Located at the Signalized, Hard Corner of West Parmer Lane and Ranch Trails | Traffic Counts in Front of the Property Exceed 37,000 Vehicles per Day
  • Adjacent to Presidio Phase II Development | Additional Future Mixed-Use Development on 250+ Acres with a Large Office/Corporate Campus Planned
  • Strong Demographics | Average Household Income is Approximately $148,761 within a One-Mile Radius; $144,910 within Three Miles; and $127,327 within Five Miles | Five-Mile Population is 192,673 Residents
  • Positioned to Serve a Trade Area of 90,000 People│ Workforce of 20,000 Employees within an Eight Minute Drive (Apple, Ebay, Legal Zoom, State Farm, ATT, Healthronics, and Electronic Arts)
  • Close Proximity to Several School Campuses, Providing Additional Traffic to the Area
  • Within Two Miles of Three Major Sporting Complexes: LISD Gumpton Stadium (11,000 Seating Capacity), RRISD Kelly Reaves (11,000 Seating Capacity), and Proposed Perfect Game Scouting Company (80 Acres -16 Playing Fields) | Generates 750K Visitors Annually
  • Near Many National Retailers Including H-E-B Grocery, The Home Depot, Walmart, Costco, Whole Foods, Dicks Sporting Goods, Target, Academy Sports and Outdoors, Cinemark, Natural Grocers, and Many More