Marcus & Millichap is pleased to exclusively list for sale Cactus Center, located at 717 South 14th Street and 907 East Johnston Avenue. This property is comprised of two multi-tenant retail buildings totaling 17,400 square feet. Additionally, there is approximately 23,440 square feet of vacant land behind the northernmost building.
Cactus Center is 77 percent occupied with a stabilized tenant base. All tenants are triple-net, protecting an investor from any increase in operating expenses. Cactus Center is offered at a price of $1,995,000 ($115/SF) which represents a day one cap rate of 7.31 percent. If an investor leases the two vacant units, the pro forma cap rate is 10.89 percent.
Strategically positioned along South 14th Street, one of Kingsville’s primary commercial corridors, this neighborhood retail shopping center presents a compelling value-add and income-producing investment opportunity in a stable South Texas market. The property benefits from strong visibility, convenient ingress/egress, and proximity to established residential neighborhoods, schools, and key demand drivers including Texas A&M University–Kingsville.