400 Oak StRoanoke, TX 76262

For Sale
$8,420,000

100% occupied, 7-tenant shopping center

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 16,714-square-foot shopping center in Roanoke, Texas, presents a compelling investment opportunity. Located at 400 S Oak St, 76262, this fully leased, multi-tenant property boasts a 7.00% cap rate and a strong NOI of $589,818. The center is situated on 0.8 acres and features seven tenants, including a diverse mix of restaurants and retailers, all operating under triple-net (NNN) leases, minimizing landlord responsibilities. Built in 2017, the property is part of a thriving mixed-use development, situated on the ground floor of a 311-unit apartment complex, Two99 Monroe, ensuring high foot traffic and visibility. Its prime location in Historic Downtown Roanoke, designated "The Unique Dining Capital of Texas" by the Texas House of Representatives, benefits from a pedestrian-friendly environment and numerous community events. The area enjoys high average household incomes ($153,286 within five miles) and a large population (over 102,037 residents within five miles). Proximity to major retailers, distribution centers, and airports further enhances its appeal. A planned boutique hotel and conference center across the street promises future growth potential. This is a stabilized asset with a strong tenant base and significant upside potential in a rapidly growing area. The asking price is $8,420,000, representing a price per square foot of $503.77.

Highlights

  • 16,714-square-foot, multi-tenant retail center in a mixed-use development in Historic Downtown Roanoke, TX.
  • Historic Downtown Roanoke, designated "The Unique Dining Capital of Texas," offers diverse dining, shopping, and entertainment.
  • Part of a condo association; located above and adjacent to a 311-unit apartment complex (Two99 Monroe).
  • Fully stabilized, 100% leased, triple-net (NNN) leases with limited landlord responsibilities.
  • Tenant mix includes complementary restaurants and retailers.
  • Located on South Oak Street, near Crockett Street and Highway 377.

Property Details for 400 Oak St

Property type
Lifestyle centers, Power centers
Square Feet
16,714 SF
Year Built
2017
Lot Size (sq. ft)
34,848 SF
Units
7

Location Insight

City
Roanoke
County
Denton
State
Texas
Latitude
32.994611138112
Longitude
-97.231114604127
400 Oak St, Roanoke, Texas

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400 Oak St
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