3900 Lamar Ave - Retail FOR SALE


Paris, TX 75462
$4,625,000 USD
817-889-1829
3900 Lamar Ave, Paris, TX for Sale
$4,625,000 USD
Retail - FOR SALE
1/8
null | 7.41% Cap Rate

3900 Lamar Ave
Paris, TX 75462


HIGHLIGHTS

  • Anchor Stability – Petco Renewal (2024)
  • Shadow Anchored by Walmart Supercenter
  • 80% of the GLA is Leased to National Retailers
  • NOI Growth: Four of Six Tenants Lack Fixed Renewal Options
  • Located on Lamar Avenue (21,431 VPD) and immediate access to NE Loop 286 (20,733 VPD)
  • Attractive Pricing

OVERVIEW

Colonial Commercial Real Estate, LLC is pleased to present on an exclusive basis, the opportunity to acquire Petco Plaza (the “Property”), a 22,529 square foot shopping center in Paris, Texas. This Walmart shadow-anchored center is anchored by Petco (NASDAQ: WOOF), which renewed its lease in 2024 and operates one of its main Northeast Texas locations here — with no other store within a 60-mile radius. The property benefits from consistent traffic generated by Petco, Walmart, and other surrounding national retailers, creating a stable and proven retail environment for investors. The tenancy is comprised of approximately 80% national retailers, with an impressive average tenure of 11 years, reflecting long-standing tenant performance and commitment to the location. The center is currently 94.71% occupied, with the only vacancy being a second-generation hair salon suite that provides straightforward lease-up potential. Importantly, four of the six tenants do not have fixed renewal options, offering ownership flexibility and attractive upside for future rent growth. Strategically positioned along Lamar Avenue, the city’s primary retail corridor, the property offers direct frontage and visibility to more than 21,431 vehicles per day (VPD), with immediate access to NE Loop 286 (20,733 VPD). A dedicated turn lane along Lamar Avenue enhances customer convenience and supports the center’s long-term viability. This offering presents a rare opportunity to acquire a stabilized, nationally tenanted shopping center with built-in value creation potential, ideally located in one of Northeast Texas’s most active and highly trafficked retail corridors.

FOR SALE DETAILS

PRICE

$4,625,000 USD

PRICE/SF

$205 USD /SF

CAP RATE

7.41%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

PETCO Plaza

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.5 AC

LAND SF

152,460 SF

ZONING

-

APN/PARCEL ID

21121

ASK ABOUT THIS PROPERTY

Benjamin BerkowitzColonial Commercial Real Estate, LLCMore Info
817-889-1829

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Benjamin BerkowitzColonial Commercial Real Estate, LLCMore Info
817-889-1829

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.