Southgate Shopping Center

Price: $1,813,399
Sq. Ft.: 32,215
Cap Rate: 4.03%
Pro Forma Cap Rate: 10.66%
Built: 1988

Marcus & Millichap is pleased to present a value-add opportunity to acquire a 32,215-square-foot, multi-tenant retail center located in Greenville, Texas.  Anchored by Family Dollar, the center is 56 percent occupied with a mix of gross and triple-net leases.  Family Dollar is a long-term tenant, having occupied the center for over 33 years.  Other tenants consist of Drug Free Greenville, Sandra Tax Service, Simply Beautiful Salon, ABC Agency Network, Jackson Hewitt Tax Services, Everyday Angels, and Greenville Pharmacy.  The subject property consists of three land parcels totaling 3.22 acres, including a .54-acre parking lot that is adjacent to the adjoining Medical Center.

  • 32,215-Square-Foot, Multi-Tenant Retail Center
  • Value-Add Opportunity | 56% Occupied | Majority of the Leases are Gross | Pro Forma Cap Rate is 10.66%
  • Anchored by Family Dollar | Long-Term Tenant for 33+ Years
  • Tenant Base is a Complementary Mix of Internet-Resistant, Service-Oriented Businesses
  • Landlord Reports Recent Property Improvements Including New Roof in May 2020, New HVAC Units at Family Dollar and Jackson Hewitt, and Parking Lot Seal Coating and Restriping
  • Double-Sided Pylon Sign Enhances Exposure to the Center
  • A .54-Acre Additional Parking Lot Adjacent to the Medical Center is Included in the Sale
  • Located on Wesley Street at the Intersection with Division Street | Easily Accessible from Multiple Ingress and Egress Points
  • Nearby Retailers Include Walmart Neighborhood Market, Dollar General, Super 1 Foods, CVS, and More