Silver Star Village

Price: $2,450,000
Sq. Ft.: 16,000
Cap Rate: 7.86%
Built: 2008

Marcus & Millichap is pleased to present the opportunity to acquire a 16,000-square-foot, multi-tenant retail center in Millsap, Texas.  The offering consists of four multi-tenant buildings situated on approximately six acres; Landlord is currently in the process of re-parceling the land, so exact acreage is to be determined. The center is currently 100 percent occupied, and all leases are triple-net. The tenant base is a complementary mix of internet-resistant tenants including Clearfork Pharmacy, Mr. Jim’s Pizza, Gregory Bratton MD, State Farm Insurance, Universal Dental Group, Cates Realty Group, Comfort Kitchens Restaurant, Hoofstock Genetics, Pronto Solutions, In-Hair-Itance Salon & Barber, Texas Title, and others.  Silver Star Village was constructed in 2008 and features an attractive façade and landscaping, and all buildings have a metal roof.  First Financial Bank is situated on a separate parcel in the middle of the center; the bank is not a part of the offering but does contribute towards the common area expenses.

Silver Star Village is located on FM 1189 approximately one mile south of Interstate 20. Traffic counts in front of the property are approximately 1,300 vehicles per day. The center is in close proximity to many schools providing additional traffic to the area.  The surrounding area has an affluent population; the average household income within a five-mile radius exceeds $108,150. Millsap is located in Parker County. The town is located 40 miles west of downtown Fort Worth and 12 miles southwest of Weatherford. Originally, Millsap was established as a relay station on the stagecoach route that ran from Weatherford to Palo Pinto. The town was named after Fuller Millsap, who moved to Texas in 1849 and Parker County in 1856. Millsap is served by the Millsap Independent School District.

  • 16,000-Square-Foot, Multi-Tenant Retail Center | Offering is Comprised of Four Multi-Tenant Buildings
  • Center is 100 Percent Occupied
  • All Leases are Triple-Net | Landlord has Been Collecting a Flat Amount and Not Reconciling with Actual Expenses | Upside Potential to a New Owner
  • Complementary Mix of Internet-Resistant Tenants
  • Buildings have Metal Roofs | Attractive Façade and Landscaping
  • Landlord is Currently Re-parceling the Lot | Estimated to be Approximately Six Acres | Property Boundary Lines Represented in the Offering Memorandum are Estimated and Subject to Change Pending Final Replat
  • Buyer has the Option to Purchase Adjacent Land (Approximately Three Acres) for Future Development |  Priced at $330,000
  • First Financial Bank (Not a Part) is Situated in the Center of the Subject Property | Contributes Towards the Center’s Common Area Maintenance Expenses
  • Affluent Population | Average Household Income Within a Five-Mile Radius Exceeds $108,150
  • Millsap is Located in Parker County | 40 Miles West of Downtown Fort Worth | 12 Miles Southwest of Weatherford