1200 Fm 51Decatur, TX 76234

For Sale
$6,826,029

Decatur, TX Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 62,463 square foot shopping center in Decatur, Texas, presents a compelling investment opportunity. Boasting a 100% occupancy rate and a strong 7.00% cap rate, the property generates a substantial net operating income (NOI) of $477,822. Anchored by a high-traffic Tractor Supply Company, currently undergoing renovations, and shadow-anchored by a high-performing Walmart Supercenter, the center benefits from significant customer traffic and a robust trade area. The tenant mix includes well-established national brands like Dollar Tree, O'Reilly Auto Parts, and CiCi's Pizza, with the top three tenants representing 75.98% of the gross leasable area (GLA). These tenants all possess investment-grade credit ratings. The property sits on a 6.7-acre lot and features a permitted F1 Commercial zoning. Built in 1988 and renovated in 2008, the center is currently undergoing a new roof installation with a 20-year warranty. The average household income within a 3-mile radius exceeds $127,000, and $135,000 within a 5-mile radius, indicating a strong and affluent consumer base. The property's APN is 787049. This fully leased retail center offers a stable and attractive investment with significant upside potential. Asking price is $6,826,029.

Highlights

  • $6,826,029 asking price for Plaza Point Shopping Center, a 62,463 SF retail property in Decatur, TX.
  • 100% occupancy with a 7.00% cap rate and $477,822 NOI.
  • Tenants include Dollar Tree, Tractor Supply, O'Reilly Auto Parts, and CiCi's Pizza.
  • Located on 6.7 acres at 1200 S FM 51, Decatur, TX 76234 (APN 787049).
  • Built in 1988, renovated in 2008, with F1 Commercial zoning.
  • New roof installation underway with a 20-year warranty.

Property Details for 1200 Fm 51

Property type
Lifestyle centers, Power centers
Square Feet
62,463 SF
Year Built/Renovated
1988/2008
Lot Size (sq. ft)
291,852 SF

Location Insight

City
Decatur
County
Wise
State
Texas
Latitude
33.226031520324
Longitude
-97.594613656229
1200 Fm 51, Decatur, Texas

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1200 Fm 51
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