Martindale Shopping Center
STABILIZED, MULTI-TENANT RETAIL CENTER : ANCHORED BY FAMILY DOLLAR AND DOLLAR TREE
Marketing description
Martindale Shopping Center is a well-established neighborhood retail property strategically situated to serve a dense residential area in Amarillo, Texas. The center comprises multi-tenant and single-tenant buildings totaling 75,104 square feet, situated on two parcels totaling approximately 6.9 acres. Landlord reports significant capital improvements totaling more than $373,000 have been completed, including partial roof replacement, parking lot resurfacing, exterior power washing and painting, parking lot lighting, sign repairs and upgrades, and white box vacant spaces. The center is currently 100 percent leased with a complementary mix of credit and local tenants. Anchored by Family Dollar and Dollar Tree, other major tenants consist of USPS, H&R Block, Martin Road Optometry, Fred Loya Insurance, Athenas Furniture Outlet, and others.
Strategically positioned along East Amarillo Boulevard (Historic Route 66) at two signalized hard corners, this infill corridor benefits from strong commuter traffic, proximity to Downtown Amarillo, and direct connectivity to the region’s primary highway network, serving a dense base of workforce households and logistics-driven employment. United Supermarkets is located one block west of the property, and numerous other national retailers are in the area including Aaron's, O'Reilly Auto Parts, Rent-A-Center, Braum's, AutoZone, and others. Martindale Shopping Center is also in close proximity to Palo Duro High School and several hotels, providing additional foot traffic to the area.
Investment highlights
STABILIZED, MULTI-TENANT RETAIL CENTER
Martindale Shopping Center is currently 100 percent leased , with 94 percent of the gross leasable area on triple-net terms. Upside exists in potential pad site carve-outs, and the suite leased to USPS is a condo unit.
ANCHORED BY FAMILY DOLLAR AND DOLLAR TREE
This retail center is anchored by Family Dollar and Dollar Tree, two well-established, publicly traded national retailers (NASDAQ: DLTR).
FAMILY DOLLAR RECENTLY EXERCISED A RENEWAL AT $5.34/SF INCREASE AND CONVERTED TO A NNN LEASE
This strategic lease renewal increased the NOI more than $80,000 and ensures a more predictable income stream.
LANDLORD HAS INVESTED $373,000+ IN RECENT PROPERTY IMPROVEMENTS
Significant upgrades to the property include partial roof replacement, parking lot resurfacing, exterior painting, sign repair, parking lot LED lighting, and white box vacant spaces.
CENTERS OCCUPY TWO SIGNALIZED HARD CORNERS
The property occupies two signalized hard corners along Martin Road at the intersection with Amarillo Boulevard, providing excellent visibility and easy access for consumers. Traffic counts exceed 28,466 vehicles per day.
AMARILLO IS THE LARGEST CITY IN THE TEXAS PANHANDLE -REGIONAL HUB FOR 275,000+ PEOPLE
Amarillo is the county seat of Potter County and acts as a central hub for the surrounding region.
PRICED AT $94 PER SQUARE FOOT - BELOW REPLACEMENT COST
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