Nolan County Plaza
94% Occupied Retail Center with Upside : 50% NNN Leases : 84% National Tenants
Marketing description
Nolan County Plaza is a 77,925-square-foot, multi-tenant retail center located in Sweetwater, Texas. The center is currently 94 percent occupied with approximately 50 percent of the leases on triple-net terms, providing significant upside potential in leasing remaining vacancies and converting all leases to triple-net. Anchored by Dollar Tree, Bealls, and Dollar General, the tenant base is a complementary mix of national, regional and local businesses. Other tenants include Shoe Sensation, Anytime Fitness, H&R Block, Mustang Donuts, Howdy Vape & Smoke, Spinners, Factory Connection, Sudden Link, and a Kooler Ice Kiosk located in the parking lot. Constructed in 1975, the subject property is situated on approximately 6.71 acres with ample paved parking and a double-sided monument sign. Landlord reports a new roof will be installed by the end of 2024. Other recent property improvements include new exterior LED lights, sealed and striped parking lot, new electrical transformer, and complete renovations for Bealls and Shoe Sensation.
Nolan County Plaza is located at the signalized intersection of East Broadway Avenue and Hailey Street. Broadway Avenue is one of the main east/west thoroughfares in the city. Nearby national and regional retailers include Ace Hardware, Sonic Drive-In, Harbor Freight Tools, Brookshire's, Pizza Hut, O'Reilly Auto Parts, Subway, Family Dollar, and many others. Sweetwater high School, Sweetwater Intermediate School, and Sweetwater Middle School are all in close proximity to the subject property, providing additional traffic to the area. The 10-mile population is approximately 13,864 residents, having an average household income of $60,194.
Investment highlights
77,925-Square-Foot, Multi-Tenant Retail Center | Value-Add Opportunity
94% Occupied | Mix of Triple-Net (50% of the GLA), Fixed, and Gross Leases | Significant Future Upside Potential in Leasing Vacancies and Converting All Leases to Triple-Net
Strong Tenant Lineup Featuring 84% National Retailers | Leases with Publicly Traded Companies Include Dollar Tree (NASDAQ: DLTR); Dollar General (NYSE: DG); and H&R Block (NYSE: HRB)
Dollar Tree Recently Exercised a Five-Year Renewal Option, Exhibiting Commitment to this Location
Property Features Large Double-Sided Monument Sign | Additional Income Derived From Ice Kiosk Located in the Parking Lot
Landlord Reports Property Improvements Including New Roof, LED Upgrades, Sealed and Striped Parking Lot Upgrade, New Transformer, and Complete Renovations for Bealls and Shoe Sensation Suites
Priced at $63 Per Square Foot | Well Below Replacement Cost
Signalized, Hard Corner Location on East Broadway Avenue (Business 20) and Hailey Street | Easily Accessible from Multiple Ingress and Egress Points
Neighboring School Campuses Including Sweetwater High School, Sweetwater Intermediate School, and Sweetwater Middle School Provide Additional Traffic to the Area
Sweetwater is Located 40 Miles West of Abilene and 123 Miles Southeast of Lubbock
Sweetwater and Nolan County are One of the Leaders in Wind Power Generation in the Western Hemisphere, Housing 1,400+ Turbines | Also Located on the Edge of the Permian Basin, the Largest Oil-Producing Shale Play in the Nation | 575 Active Wells in Nolan County
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