Retail
Relinquished property
Neighbourhood retail strip centre
Round Rock, TX (approximate)
6.75% cap rate
Confirmed today
Overview
Seven-bay centre on a commuter corridor with 28,000 vehicles per day, one 1,900-square-foot bay currently vacant and previously a nail salon. Service-oriented tenancy — dental, veterinary, two restaurants — on triple-net leases with 3% annual increases. Facade and parking lot redone in 2018, pylon sign with tenant panels on the corridor.
This is an example listing published by 1031 MLS to demonstrate the site. The property does not exist and is not for sale.
Property details
The deal
- Property type
- Retail
- Subtype
- Unanchored neighbourhood centre
- Occupancy
- 92%
Income
- Cap rate
- 6.75%
- Net operating income
- $411,750
Building
- Building area
- 24,800 sf
- Lot size
- 2.3 acres
- Year built
- 2004
- Year renovated
- 2018
Lease
- Tenant
- Seven tenants, no single tenant above 22% of NRA
- Lease type
- NNN
- Lease expiration
- August 31, 2030
Exchange notes
The vacant bay is the whole negotiation: priced as-is here, so a buyer underwriting it as leased should expect the seller to want credit for that.
Location
Address protectedRound Rock, TX (approximate)
This listing shows an approximate area only. The seller has chosen to keep the exact street address private.
The precise address is released to you when the seller accepts your inquiry.