The Best Center

Price: $4,631,000
Sq. Ft.: 61,885
Cap Rate: 7.5%
Built: 1973

Marcus & Millichap is pleased to offer the opportunity to acquire a 61,885-square foot, multi-tenant  retail center  in a prime retail corridor of Wichita Falls, Texas.  The Best Center is anchored by Big Lots; other tenants include Harbor Freight Tools and Outback Pool & Spa. Big Lots and Outback Pool & Spa have triple-net leases and Harbor Freight has a base year lease. The center is 94 percent occupied with potential upside in leasing the vacant suite. Originally constructed in 1973, the building is situated on 4.41 acres. In 2019, a new roof was installed.

Wichita Falls is the county seat of Wichita County. The city is located in north Texas, 15 miles south of the Oklahoma border. Wichita Falls is home to Sheppard Air Force Base, the Air Force’s largest technical training wing and the Euro-NATO Joint Jet Training program. The program is the world’s only multi-nationally staffed and managed flying training program charged to produce combat pilots for both USAF and NATO. The population of Wichita Falls exceeds 104,000 residents.

  • 61,885-Square Foot, Multi-Tenant Retail Center
  • According to the Landlord, All Tenants are Currently Paying Full Rent
  • Anchored by Big Lots (57% of the Gross Leasable Area)
  • Big Lots and Outback Pool & Spa Have Triple-Net Leases | Harbor Freight has a Base Year Lease
  • 94% Occupied | Upside Potential in Leasing the Vacant Suite
  • Current Rents are Below Market
  • New Roof Installed in 2019
  • Prime Location on the Signalized Hard Corner of Kell E Boulevard (Highway 277 Access Road) and McNiel Avenue
  • Excellent Freeway Visibility and Multiple Ingress and Egress Points Provide Easy Access to the Center
  • Cumulative Traffic Counts are Approximately 47,960 Vehicles Per Day
  • Dense Retail Trade Area | Subject Property is in Close Proximity to Planet Fitness, Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s Home Improvement, ALDI, Academy Sports and Outdoors, Office Depot, and Numerous Other National Retailers
  • Approximately One Mile Northwest of Sikes Senter Mall | Anchored by JCPenney, Dillard’s, and At Home
  • Wichita Falls is Home to Sheppard Air Force Base, the Largest and Most Diversified Training Center in Air Education and Training Command