Grand Avenue Center - Pflugerville, TX
100% Leased - Value-Add Shopping Center | Austin MSA | Below Market Rents
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the Grand Avenue Center, a 13,150 SF shopping center located in the northeast quadrant of the Austin MSA. Built in 2003, the property sits on a 1.94-acre parcel with a generous parking ratio of 68 spaces (5/1,000 SF). The center is 100% leased to a diverse mix of nine internet-resistant, service-oriented tenants. With rents well below market, the property provides investors with both stable cash flow and significant upside potential through future rent growth.
The Grand Avenue Center is located in Round Rock, one of Austin’s fastest-growing submarkets and a major technology hub. The property benefits from excellent regional connectivity with convenient access to Austin-Bergstrom International Airport, downtown Austin, I-35 (165,081 VPD), and SH-45 (70,000 VPD).
Strategically positioned at the corner of Grand Avenue Parkway and Royston Lane, the center enjoys strong daily traffic counts of 38,428 VPD and proximity to major employers and demand drivers, including Dell Corporate Headquarters, Dell’s Parmer South Campus, Pflugerville High School, La Frontera Shopping Center, and the planned $200M mixed-use development “The District.” This offering represents a rare opportunity to acquire a stabilized, well-located neighborhood shopping center in a high-growth Austin corridor with built-in upside.
Investment highlights
100% Occupied: Internet-resistant tenant base of restaurants and service-oriented businesses with a generous parking ratio of 4.98 spaces per 1,000 SF.
Value-Add Opportunity: Upside by converting leases to Triple Net (NNN) and raising rents from $21.72 PSF (net) to $29 PSF NNN (per CoStar).
Strong Demographics: Dense population of 105,808 residents and $80,544 average household income within 3 miles.
Prime Location: Located at the corner of Grand Avenue Parkway and Royston Lane, just 1 mile east of I-35, with full access from both roads.
High Traffic Counts: Frontage along Grand Avenue Parkway with 36,819 VPD, ensuring strong visibility and accessibility.
Strategic Growth Market: Pflugerville, in Travis County (Austin MSA), benefits from proximity to the high-tech industry and major shopping destinations: Dell HQ (13,000 employees) – 3 miles north, Tech Ridge (GM, Qualcomm, 3M) – 5 miles south, and La Frontera, a 880,000 SF premier shopping center, 3.5 miles north.
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