Shops of Eldorado I & II

Price: $9,764,000
Sq. Ft.: 36,485
Cap Rate: 7.50%
Built: 2007

The Shops of Eldorado I & II is multi-tenant neighborhood shopping center comprised of two buildings totaling 36,485-square feet, located in the desirable D/FW suburb of Frisco, Texas. The center is currently 90 percent occupied, providing upside potential in leasing the vacant space. All current leases are triple-net, and 55 percent of the occupied space has personal guaranties. The center is a mix of retail and medical office, with major tenants including PetSense, Dr. Castano-Rendon (orthodontics), Bella Nails, Dr. Davis (pediatric dentistry), Dr. Reddy (children’s clinic), and Love Sushi. The buildings were constructed in 2007 and are situated on 3.73 acres.

The subject property is located in a dense retail trade area in the northeast quadrant of FM 423 and Eldorado Parkway. Traffic counts are approximately 14,500-vehicles per day on FM 423 and 21,460 on Eldorado Parkway. Shadow anchored by Walmart Supercenter, other pad sites neighboring the property include BB&T, Panda Express, GameStop, Wendy’s, and Wells Fargo. Other national and regional tenants in the vicinity include Lowe’s Home Improvement, Chase Bank, Firestone, AutoZone, Hobby Lobby, Hibbett Sports, Dollar Tree, Monarch Dental, Baskin Robbins, Great Clips, 24 Hour Fitness, T-Mobile, McDonald’s, Applebee’s, Walgreens, CVS, Burger King, and Capital One Bank. The highly affluent area has an average household income of $121,700 within three miles of the subject property.