3601 N STATE LINE AVE Texarkana TX 75503-3679

Property Description

Asking Price: $850,000
Building Size: 13,073 SF | Land Size: 0.80 Acres
Occupancy: 32.35% | Proforma Cap Rate: 12.53%
Frontage: ±290.5’ on N. Stateline Avenue | Year Built: 1985
Parking: 53 Spaces | Zoning: Commercial

INVESTMENT HIGHLIGHTS

• Prime Visibility on a Major Thoroughfare: Heritage Square enjoys approximately 290 feet of frontage on N. Stateline Avenue — one of Texarkana’s busiest north–south corridors with four lanes of traffic plus a dedicated turn lane. The corridor connects directly to I-30, providing outstanding exposure and accessibility for retail and service-based businesses.

• Strong Value-Add Opportunity: Currently 32% occupied with four tenants in place (two on long-term leases, two month-to-month), the property offers immediate income with substantial upside potential. Stabilizing the center to market rent of $1.24/SF/month projects a 12.53% proforma cap rate and nearly $16,200 in monthly gross revenue.

• Significant Capital Improvements: A brand-new roof was completed in October 2025 at a cost of $193,025.45, along with updated pylon sign lighting — minimizing near-term capital expenditure for a new owner.

• Flexible Suite Layout: Heritage Square includes 12 suites ranging from small shop space to contiguous open layouts. Units 7–11 currently flow together as one large open area and can easily be reconfigured into five separate suites to meet tenant demand. One unit is also built out for a six-station salon, offering versatility for a variety of retail or office users.

• Low Operating Expenses: Landlord pays only water and gas; tenants are responsible for electric.

KEY DETAILS

• Current Income: $5,262.10/month

• Pro Forma Income: $16,198.90/month

• County Assessment: $984,447

• Tenant Mix: Retail (3) and Office (1)

• Historic Note: Former home of Nelson’s Boots & Shoes — a well-known Texarkana staple.

MARKET OVERVIEW – TEXARKANA, TX

Texarkana is a bi-state commercial hub serving both Texas and Arkansas, offering a strategic location at the crossroads of I-30, U.S. 59, and U.S. 71. The city benefits from a diversified economy anchored by healthcare, manufacturing, logistics, and retail. Investors are drawn to Texarkana’s affordable property taxes, business-friendly environment, and steady population growth that supports continued retail demand.

N. Stateline Avenue is recognized as one of Texarkana’s most traveled corridors, connecting major residential neighborhoods to downtown and the Arkansas state line. The area supports a mix of local and regional retailers, service businesses, and offices — making Heritage Square an ideal acquisition for investors seeking a stabilized asset with strong upside in a growing market.