Creme de la Creme Plaza Retail FOR SALE


Allen, TX
$7,345,000 USD
817-889-1829
, Allen, TX for Sale
$7,345,000 USD
Retail - FOR SALE
1/8
null | 6.5% Cap Rate

Creme de la Creme Plaza
Allen, TX


HIGHLIGHTS

  • High-Income, Growth-Oriented Submarket (3-Mile Radius)
  • Significant Mark-to-Market Rent Upside
  • Adjacent to Kroger-Anchored Retail
  • Located Along W. McDermott Drive (±37,453 VPD)
  • Dense Residential and School-Driven Trade Area

OVERVIEW

Colonial Commercial Real Estate, LLC is pleased to exclusively offer Crème de la Crème Plaza (the “Property”), a 100% leased, 20,671 square foot neighborhood retail center located in Allen, Texas, one of the most affluent and established suburbs in the Dallas/Fort Worth Metroplex. The Property consists of two retail buildings positioned along W. McDermott Drive, an east-west commercial corridor with approximately 37,453 vehicles per day and immediate access to US-75 (North Central Expressway). The Property benefits from a highly service-oriented, necessity-based tenant mix that is largely recession-resistant and insulated from e-commerce disruption. The tenant mix consist of food, medical, childcare, personal care, and daily-needs users, including Spaza Restaurant, Sayfani Yemeni Coffee, Krossover Barber, Peak Rehabilitation (physical therapy), Dino Kidz (daycare), a pharmacy, salon suites, and a liquor store. The opportunity offers embedded rent growth upside as current average rents are 28% below market. Approximately 69% of the gross leasable area (GLA) has no remaining renewal options, while an additional 22% of GLA includes renewal options at market rates. As a result, 91% of the Property’s GLA, approximately 37% of which rolls within the first two (2) years, will provide the ability to mark rents to market, creating a clear and measurable path to NOI growth. The Property is further supported by strong neighborhood demand drivers, including its direct adjacency to a Kroger-anchored shopping center, proximity to multiple Allen ISD schools, and placement within a dense residential trade area characterized by high household incomes and sustained population growth of approximately 4.6% annually.

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.