Lavaca Bay Shopping Center
Value-Add Community Center | 8.10% Cap Rate | $85.23 PSF
Marketing description
SHOP Investment Sales has been exclusively retained to offer for sale Lavaca Bay Shopping Center, an 81,898 square foot value-add community center in Port Lavaca, Texas (the “Property”). Lavaca Bay is an established community center located along Texas State Highway 35, the main thoroughfare in Port Lavaca, prominently positioned at the major retail intersection in the city across the street from HEB. The Property is 99% occupied and anchored by Dollar Tree & Auto Zone. At $85.23 psf square foot to the building and an in-place 8.10% cap rate, Lavaca Bay offers a deep discount to replacement cost with significant long term upside.
Investment highlights
ESTABLISHED COMMUNITY CENTER IN STRONG TEXAS GULF CITY
Lavaca Bay Shopping Center is an 81,898 square foot retail asset located at the primary retail intersection in the town of Port Lavaca directly across the street from HEB. Positioned almost equidistant from San Antonio, Austin & Houston, Port Lavaca has a strong local economy along the Texas Coast. The city’s coastal access and established port facilities make it well suited for logistics, manufacturing, and energy-related businesses, while its location along Highway 35 provides efficient connectivity to major Texas markets.
STABLE RENT ROLL WITH NATIONAL CREDIT TENANTS AND BELOW MARKET RENTS
Anchored by national retailers Dollar Tree, Auto Zone & Fastenal, the rent roll features a number of tenants who have been at the center for 20+ years. With average rents of $7.81 per square foot and minimal fixed rate renewal options, there is significant long term upside through re-leasing efforts while still achieving a going-in 8.10% unlevered yield.
10 ACRE SITE WITH DEVELOPABLE PADS
Lavaca Bay is spread across nearly 10 acres at the dominant intersection in town. Included in the sale are two separately parceled, developable pads fronting State Highway 35.
PRICED SIGNIFICANTLY BELOW REPLACEMENT COST
At $85.23 per square foot, Lavaca Bay is being offered well below replacement cost.
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