Watercrest Road Retail Center

Price: $1,700,000
Sq. Ft.: 14,450
Cap Rate: 2.22%
Pro Forma Cap Rate: 13.17%
Built: 2011
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Watercrest Road Retail Center is a 14,450-square-foot, multi-tenant retail center located in Killeen, Texas. The subject property is currently 38 percent occupied, providing significant upside potential in leasing the remaining vacancies. All current leases are triple-net. Tenants are a complementary mix of internet-resistant and service-oriented businesses, including AK Slays Hair, Four 9 Hookah Lounge, and a convenience store. The building features a metal roof and is situated on 1.35 acres with ample paved parking. A large double-sided monument sign provides additional exposure to the center.

The subject property is located at the intersection of Watercrest Road and Windfield Drive. Traffic counts in front of the property on Watercrest Road are approximately 10,508 vehicles per day. The subject property is surrounded by national and regional retailers including Subway, Dunkin’ , Jersey Mike’s Subs, Walmart Neighborhood Market, Burger King, Dutch Bros Coffee, and others. Also in close proximity is AdventHealth Central Texas, formerly Metroplex Adventist Hospital, one of the largest health care providers in the United States, housing approximately 208 beds. Central Texas College, a public community college, is also nearby with an estimated total enrollment of 10,173 students. The surrounding area is densely populated with more than 135,145 residents within five miles.

  • 14,450-Square-Foot, Value-Add Multi-Tenant Retail Center
  • 38% Occupied |  Current Leases are Triple-Net
  • Significant Upside Potential in Leasing Remaining Vacancies | Pro Forma Cap Rate is 13.17%
  • Tenants are a Mix of Internet-Resistant and Service-Oriented Businesses
  • Current Average Rents are Well Below Market
  • Priced at $118 Per Square Foot | Below Replacement Cost
  • Building has a Metal Roof
  • Located at the Intersection of Watercrest Road and Windfield Drive | Traffic Counts are Approximately 10,508 Vehicles Per Day
  • Less than Four Miles from Fort Cavazos Army Installation | Home to 34,375 Active-Duty Military and 13,153 Civilians and Contractors
  • Close Proximity to AdventHealth Central Texas | One of the Largest Healthcare Providers in the United States
  • Near Central Texas College | Public Community College with an Estimated Enrollment of 10,173 Students
  • Killeen is the Principal City of The Killeen-Temple-Fort Cavazos MSA | Located 55 Miles North of Austin, 125 Miles Southwest of Dallas and 125 Northeast of San Antonio