Listed by Weitzman Dallas
$5,100,000
Pleasant Run Village
Details
Property Type Retail
Sub Type Storefront, Commercial
Square Footage 27,341
Cap Rate 7.70%
NOI $392,591
Occupancy 100%
Tenancy Multi
Lease Type NNN
Year Built 1974
Acreage 2.560
Parking Spaces 152 spaces
Parking Per SqFt 5.56
Retail | 27,341 SF - 100% Occupied : NNN Leases : Below Market Rents
Marketing description
Pleasant Run Village serves as an ideal location for small businesses, including franchises, to establish a presence along the dense and underserved Hampton Road corridor.
Pleasant Run Village is a multi-tenant retail center with approximately 27,000 square feet of space. This center is located at the intersection of Hampton Road and Pleasant Run Road, where it benefits from a strong retail district with traffic draws like Tom Thumb, Aldi and a number of restaurants such as Whataburger, Dunkin’ and Fuzzy Tacos.
Ownership recently invested in a significant refresh of the center. The renovation involved replacing the metal façade panels, painting the entire building, moving all the old barrel tenant signage and replacing it with more appealing backlit signs, replacing the fluorescent under-canopy lighting with brighter, modern LED lighting, adding high-security LED lighting to the parking lot and adding a fresh seal coat and striping to the parking lot.
The tenancy includes Subway and other food options like Krab King, as well as services such as Liberty Tax, Ernie Williams Insurance Agency. We Print, I Repair Phones, The Missing Sock laundromat and Cadillac Cleaners and cleaners, All Star Barber Shop, Beauty Max, Art Nails and newly signed concepts Happy Fragrance and More and Winning Circle Beauty and Barber.
Investment highlights
- DIVERSE TENANT MIX : A balanced portfolio of 15 tenants including retail shops, restaurants, and service providers, mitigating risk, and enhancing income stability.
- PRIME LOCATION : Strategically situated in a high-traffic area with excellent visibility and accessibility, ensuring consistent foot traffic and tenant attraction.
- UPSIDE POTENTIAL : Favorable market conditions, opportunity for rental growth, and value appreciation driven by Desoto’s expanding population and economic development.
- CASHFLOW : Steady in-place cash flow with embedded rental escalations.
Listing Contacts
Listed by Weitzman Dallas
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$392,591.00
$32,715.92/mo
Valuation Metrics
0
DSCR
7.7%
Cap Rate
7.7%
ROI
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