The Shops of Eldorado is a multi-tenant retail center comprised of two buildings totaling 36,485 square feet, located in the highly desirable Dallas-Fort Worth suburb of Frisco, Texas. The center is currently 87 percent occupied, providing upside potential in leasing the vacant space. All current leases are triple-net. The center is a mix of retail and medical office, with tenants including Rendon Orthodontics, About Face Oral and Facial Surgery, Beyond Innovation Chiropractic, Little Elm-Frisco Children’s Clinic, The Cash Store, Floors 4 Less, Vapor Pro, Supercuts, Eye Level Learning, Papa Murphy’s, Bella Nails, Love Sushi, Healthy Smiles, V-Smiles Family Dental, ICODE, and Eggsellent Cafe. 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 18,800 vehicles per day on FM 423 and 27,145 on Eldorado Parkway. Shadow-anchored by Walmart Supercenter, other pad sites neighboring the property include BB&T, Panda Express, Pizza Hut, GameStop, Wendy’s, and Wells Fargo. Other national and regional tenants in close vicinity include Lowe’s Home Improvement, O’Reilly Auto Parts, AutoZone, Discount Tire, Hobby Lobby, Hibbett Sports, Dollar Tree, McDonald’s, Baskin Robbins, Great Clips, T-Mobile, Applebee’s, Walgreens, CVS, Starbucks, Burger King, Kroger Marketplace, ALDI, Goody Goody Liquor, and more. The property is well positioned in a densely populated and highly affluent area; the one-mile average household income is $159,330.
Frisco is located in the Dallas-Fort Worth Metroplex, approximately 30 miles north of downtown Dallas. Frisco is constantly ranked as one of the fastest growing cities in the United States and is noted for having an exceptional school district attracting future residents to the area. The city is home to The Star, the Dallas Cowboys World Headquarters, Toyota Stadium, FC Dallas soccer team, and Dr. Pepper Ballpark, the home field for the Frisco Roughriders. North Texas is home to many corporate headquarters including Toyota, JP Morgan Chase, Addus Homecare, Careington International, the National Breast Cancer Foundation and has become the sought after location for many corporations looking to relocate including Keurig Dr. Pepper and PGA of America.
- 36,485-Square Foot, Multi-Tenant Retail Center
- Shadow-Anchored by Walmart Supercenter
- 87% Occupied | All Leases are Triple Net
- Upside Potential | Pro Forma Cap Rate is 7.13%
- Current Average Rents are Well Below Market
- Complementary Mix of Credit and Local Tenants
- 36% of the Gross Leasable Area is Medical Office
- Located in the Northeast Quadrant of the FM 423 and Eldorado Parkway Intersection
- Traffic Counts are Approximately 18,800 Vehicles per Day on FM 423 and 27,145 Vehicles per Day on Eldorado Parkway
- Neighboring National Retailers Include Lowe’s Home Improvement, Hobby Lobby, Hibbett Sports, Dollar Tree, CVS, Walgreens, and Others
- Prime Location in a Densely Populated Area with Excellent Demographics | The Five-Mile Population Exceeds 181,000 Residents
- Highly Affluent Area with an Average Household Income of $159,330 Within a One-Mile Radius; $153,940 Within a Three-Mile Radius | $150,543 Within a Five-Mile Radius
